Recording collections and payments for sales and purchase invoices

When you have recorded sales or purchase invoices that you submitted to your customers or received from your suppliers, you can easily record the collections or payments for these invoices.

The process for collections and payments is very similar and only differs in the name of the screen elements. Both are described in the steps below.

To record collections or payments for sales or purchase invoices:

1. Access the invoices list:

   Sales > Sales invoices

   Purchase invoices

2. Edit the posted invoice that you want to record a collection or payment for (  ).
3. Open the Record collection or Record payment screen ( Record collection or Record payment).
4. Modify or choose the Collection or Payment date, Bank or cash account and the Amount to record.
5. If the third party’s Payment terms state that collection or payment can take place in multiple instalments, you need to select one or more Open items that the collection or payment settles.
   By default the oldest open item will be selected.

   When the Amount to record is greater than that of a single open item, additional open items will automatically be selected until the Amount to record is reached.

   When you manually select multiple open items , the Amount to record will automatically update to propose the total of the amounts for these open items.
6. You can add a Journal entry description to easily identify the journal entry for this collection or payment.
7. Confirm.

The process automatically creates the necessary journal entry and performs the matching.

When the customer pays their invoice in multiple instalments, you need to repeat the collection procedure until the invoice is fully collected.

Once the invoice is fully collected, this is indicated by a message in the header of the invoice and you can no longer record payments.