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As noted in the previous section, cash receipts is simple when the customer does everything correctly. Normally an order is entered before a prepayment is received or can be entered before a cash receipt is processed. Now we will review how to handle a prepayment by a customer, before there is a job in the system, or an over-payment of an existing invoice that you want to hold on the customer's account for a future job or refund. To put it simply, these steps show how to move money paid on one job to another job.
| • | First you will need to create a job for that customer. You can create one with no line items or you might want to put in a line item using a description that says hold account balance with a zero price. |
| • | Next record the cash receipt. Go into Accounting > Receivables > Cash Receipts. Fill in the date and checking account. Click the new check button. On the distribute check screen fill in Customer Code, Check Number and Check Amount, then click the New button. On the Pay Invoice screen click in the job number field and put in the job number that you want to make the prepayment to. In This Payment put in the amount of the check and click OK. Then click Finished on the next two screens and this completes the transaction. |
| • | When the future job is created, make an adjustment. Go into Accounting > Receivables > Cash Receipts. Enter a $0 check for the customer, with a description of Adjustment in the Check Number field. Make a negative payment to the holding job and a positive payment to the new job(s). This should be done before invoicing so that the invoice will let the customer know that a full or partial payment has been received. |
If you are applying a prepayment to an existing job, you would follow these steps:
| • | Go > Accounting > Receivables > Cash Receipts. |
| • | Fill in the date and checking account, and click the New Check button. |
| • | On the distribute check screen, fill in Customer Code, Check Number and Check Amount, then click the New button. |
| • | On the Pay Invoice screen, enter the job number in the Job Number field and <TAB>. In the This Payment field, enter the amount of the check and click OK. |
| • | Then click Finished on the next two screens and this completes the transaction. |
NOTE: When the invoice is printed, it will print out for the full amount with a note to deduct the prepayment.
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