Debtor - Receipt
Menu Selection: Document - Debtor - Receipt
Purpose
This document provides the facility for receiving money and cheques from debtors. It also provides the ability to process zero valued receipts, which allow for the distribution of matching tax invoices and tax credits.
Prerequisites
A debtor must exist in the Lilac3 database, and that debtor must have been invoiced.
Context
After filling in the Main and the Ref field, clicking the Suggest button (with the left mouse button) will fill in the appropriate fields. From here you can go through the value field and type in how much the debtor paid you. The Total to Pay field will automatically be updated with the sum of the amount entered into the Value field. Also the Then Due field will also be automatically updated. It will then be equal to gross amount owed minus the amount entered into the Value field. Use negative values in the Values field to post a credit to the Invoice.
After the correct details have been entered, click the Distribution button (with the left mouse button), and amounts will automatically be adjusted based on the values that have been entered.
To correct an error, simply clear the amount entered for the value of the receipt and click the Suggest button. Re-enter the correct value and click the Suggest button to continue with Distribution.
About This Screen
| Head of the Document | ||
| Field | Enterable? | Instructions |
| Main | Yes | Type in the debtor’s key (or click the right mouse button) and select the key from the list. At this stage, the database is searched and details relating to the debtor are extracted from the Debtor’s Master File. These are automatically entered into the appropriate boxes upon pressing the Enter key. |
| Period | No | Accounting Period |
| Ref | Yes | Type in the debtors’ cheque number. (or equivalent) |
| Bank Account | Yes | Type in the bank account that this amount should be debited. (eg: Cash at Bank) |
| Category | No | The debtor’s category is automatically entered here upon entering the debtor’s key. |
| Retention | No | This field is the total of the values of entered into the Retention fields below. |
| Direct To Bank | Yes | Tick this box (with the left mouse button) if the debtor is paying straight into your bank account (eg: direct deposit). This can not be used in conjunction with EFTPOS field. |
| Settlement | Yes | Settlement Discount |
| Notes And Coins | Yes | Tick this box if the debtor is paying with cash. |
| Stop Credit | Yes | Use this field to take a debtor off stop credit once a receipt has been processed. |
| EFTPOS | Yes | Indicates that the receipt is from an Point of Sale machine. If this field is ticked, the posting will go to the Deposits EFT account. This can not be used in conjunction with Direct to Bank field. |
| Date | Yes | Type in the date that the cheque was received. This is set to the the working date. |
| Drawer | Yes | Type in the drawer of the cheque. This field is automatically filled in with the name of the debtor as recorded in the Debtors Master Record. |
| Bank | Yes | Type in the bank of the debtor. This field is automatically filled in with the Bank of the debtor as recorded in the Debtors Master Record. |
| BSB | Yes | This field is automatically filled in with the BSB of the debtor as recorded in the Debtors Master Record. |
| Value | Yes | Type in the value of the receipt. |
| Posted | No | The amount in the field will be updated when you click the Suggest button. The amount will be posted to the Deposits account in the Balance ledger, for the amount shown in the Value field. If you type in the incorrect Value, and Suggest, you will need to blank out the Value field and the click the Suggest button again. This will zero out the receipt, allowing you to start from the beginning. |
| Un Distributed | No | The amount shown in this field is the value of receipt not yet distributed against a document or transaction. This is calculated by taking the Posted amount and subtracting the total of the Paid column. |
| Total To Pay | No | The total amount of money to be paid is on this receipt. This is the total of the Value column. |
| Residual | No | The difference between the Total to Pay field and the Value field. |
Lines of the Document |
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| Field | Enterable? | Instructions |
| Date | No | This column shows the original date the document was created. |
| Target Ref | No | This column shows the reference number of the document. |
| Age | No | This column displays the age of the original document in days. |
| Gross | No | The original value of the document. |
| Paid | No | The amount already paid for this invoice. |
| Total Deductions | No | The sum of discount, and retention posted. |
| Value | Yes | The amount being paid on this receipt for this document. If there is a discount which needs to be applied, you will need to enter in the discount before changing the value in this field. |
| Taxable | Yes | If the original document was taxable, this field will be ticked. |
| Discount | Yes | Type in a discount if applicable. If there is a discount, the discount should be entered before changing the Value field. |
| Retention | Yes | This is the amount that is withheld from payment for the corresponding invoice. This feature is generally used when a invoicing company fails to quote their ABN number. |
| Then Due | No | The balance still owing for the document after suggested distribution. |
| Balance | Yes | Progressive Balance |
Transaction Processing
| Button | Description |
| Suggest | Clicking the Suggest button will post the Value of the receipt to the Deposits or the Deposits EFT Account. |
| Distribution | Clicking the Distribution button will update the Paid and Total Deductions column, and the Un Distributed field. |
From Here
After successfully completing this form, you can issue a Debtors - Statement, or run Debtor's reports such as Reports - Debtors - Aged Trial Balance.
When you are ready to do the banking, you should do a Debtors - Finalize Deposits, which will transfer the value from the Deposits account to the Bank Account specified.