99 lines
3.6 KiB
Markdown
99 lines
3.6 KiB
Markdown
Payments made against Sales Invoices or Purchase Invoices can be made by
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clicking on “Make Payment Entry” button on “Submitted” invoices.
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1. Update the “Bank Account” (you can also set the default account in the Company master).
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2. Update posting date.
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3. Enter the cheque number, cheque date.
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4. Save and Submit.
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<img class="screenshot" alt="Manking Payment" src="{{docs_base_url}}/assets/img/accounts/make-payment.png">
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Payments can also be made independent of invoices by creating a new Journal
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Voucher and selecting the type of payment.
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#### Incoming Payment
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For payments from Customers,
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* Debit: Bank or Cash Account
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* Credit: Customer
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> Note: Remember to add “Against Sales Invoice” or “Is Advance” as applicable.
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#### Outgoing Payment
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For payments to Suppliers,
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* Debit: Supplier
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* Credit: Bank or Cash Account
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### Example Payment Journal Entry
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<img class="screenshot" alt="Manking Payment" src="{{docs_base_url}}/assets/img/accounts/new-bank-entry.png">
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* * *
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### Reconciling Cheque Payments
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If you are receiving payments or making payments via cheques, the bank
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statements will not accurately match the dates of your entry, this is because
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the bank usually takes time to “clear” these payments. Also you may have
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mailed a cheque to your Supplier and it may be a few days before it is
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received and deposited by the Supplier. In ERPNext you can synchronize your
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bank statements and your Journal Entrys using the “Bank Reconciliation”
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tool.
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To use this, go to:
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> Accounts > Tools > Bank Reconciliation
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Select your “Bank” Account and enter the dates of your statement. Here you
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will get all the “Bank Voucher” type entries. In each of the entry on the
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right most column, update the “Clearance Date” and click on “Update”.
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By doing this you will be able to sync your bank statements and entries into
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the system.
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* * *
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## Managing Outstanding Payments
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In most cases, apart from retail sales, billing and payments are separate
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activities. There are several combinations in which these payments are done.
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These cases apply to both sales and purchases.
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* They can be upfront (100% in advance).
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* Post shipment. Either on delivery or within a few days of delivery.
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* Part in advance and part on or post delivery.
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* Payments can be made together for a bunch of invoices.
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* Advances can be given together for a bunch of invoices (and can be split across invoices).
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ERPNext allows you to manage all these scenarios. All accounting entries (GL
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Entry) can be made against a Sales Invoice, Purchase Invoice or Journal
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Vouchers (in special cases, an invoice can be made via a Sales Invoice too).
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The total outstanding amount against an invoice is the sum of all the
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accounting entries that are made “against” (or are linked to) that invoice.
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This way you can combine or split payments in Journal Entrys to manage the
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scenarios.
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### Matching Payments to Invoices
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In complex scenarios, especially in the capital goods industry, sometimes
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there is no direct link between payments and invoices. You send invoices to
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your Customers and your Customer sends you block payments or payments based on
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some schedule that is not linked to your invoices.
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In such cases, you can use the Payment to Invoice Matching Tool.
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> Accounts > Tools > Payment Reconciliation
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In this tool, you can select an account (your Customer’s account) and click on
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“Pull Payment Entries” and it will select all un-linked Journal Entrys and
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Sales Invoices from that Customer.
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To cancel off some payments and invoices, select the Invoices and Journal
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Vouchers and click on “Reconcile”.
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{next}
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