Sales receipts (Sales Ledger)

Use this to record your customer receipts.

You can allocate the receipt to outstanding invoices here, or you can record the receipt and choose to allocate it at a later date, using the Allocation option.

To enter a receipt from customer who pays through an online payment service provider such as Sage Pay, use the Online Card Receipt option.

Foreign currency receipts

When you enter a foreign currency receipt, you must also:

• Enter an exchange rate.

  Note: Exchange rate variations are handled using Foreign Account Revaluation.

• Enter an exchange loss or gain on the transaction, only if you are not using Foreign Account Revaluation.

  The loss or gain on the transaction is entered in the Bank charges area of the window, selecting the Currency Adjustments nominal account.

• Enter bank charges, if applicable. (Bank charges are in the same currency as the bank account.)

Note: If you are using a nominal bank account to record your bank transactions then you can only record transactions in the currency set on the customer's account.

• The customer's account balance is updated (decreased) by the value of the receipt or receipts posted (including discount if appropriate).
• The bank account (for the balance sheet) in the Nominal Ledger and in the Cash Book, if used, is debited with the value of the receipt.
• The bank account (for profit and loss) is updated with the value of any charges, if applicable.
• The settlement discount allowed account (for the profit and loss) in the Nominal Ledger is debited with the value of the settlement discount, if included.
• The sales control account (for the balance sheet) in the Nominal Ledger is credited with the value of the receipt plus any discount.
• Any currency adjustments are posted, if applicable.
• Transactions are allocated if allocation has been selected.