21st Century Accounting Tutorials - Bank Accounts

How do I Enter and Deposit a Payment on Account from a Customer?

To record payments on their Receivables accounts that you receive from customers, you use the Deposits command. When you post a Deposits batch containing customer receipts, the payments are posted to the designated customer accounts and to the associated Receivables control accounts.

The total deposit is recorded as a single credit to the bank account you designate as the account to which the deposit will be made. (The system uses the deposits clearing account as an interim holding account to consolidate multiple receipts into a single deposit.)

Netcon's customer, Hampton Insurance, received their statement and sent a check for the amount they owe. To enter their regular customer receipt, fill in the following required fields. (View the Help for information about optional fields.)

Follow these steps:

  1. Double-click the zebra icon on your desktop to start up 21st Century Accounting and use the Guest password to log in.
  2. Run System/Company/Select and double-click Netcon (the sample company) in the Select Company window.
  3. Run Bank Accounts/Deposits.

  4. Batch options window. All data entry sessions that create batches open with the Batch Options window.

    Enter 01 for the ID of the bank account where the receipts will be deposited. Leave deposit number blank so the system can default the next available number.

    Click OK.

    The cursor moves into the Receipt type field in the new deposit window.

  5. Receipt type. Select Customer and press the Tab key.
  6. Enter 937.50 for the amount of the receipt.
  7. Trans date. Press Tab.

  8. Customer. Select Hampton and press Tab.
  9. Invoice Number. Select Hampton's invoice 001034 from the drop-down list at Invoice Number.

    For open item customers, at Invoice Number, you use the drop-down list to see the customer's outstanding invoices. You can select "all" or individual invoices for application of the payment, as appropriate.

    Finance charges that are due appear as separate invoices for open item customers and can be selected for inclusion in the payment.

    For balance forward customers, you apply payments to "all." At Applied amount, you enter the amount of the receipt to apply to the invoice(s). Press Tab to approve the default applied amount.

  10. OK. Click the OK button or press Enter to save the entry. Your Deposits window should look like this:

  11. At this point, you can enter more receipts or post this one. If you enter multiple receipts, save the batch periodically.

  12. When you are done, click the Post batch button.

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