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Receive money

Receiving invoice payments

If you’re receiving a payment from a customer for an invoice entered from the Invoices page, enter the payment from the Invoices page. For more information see Customer payments.

You use the Receive money page to record any money you receive that is not a payment for an invoice you’ve issued to a customer. You might use a receive money transaction to record things like interest received from your bank, sale of surplus tools and equipment, tax refunds, donations received, government grants, etc.

You can apply a receive money amount to a single account, or you can split the amount between two or more accounts. You can also track any tax or GST associated with the money received.

OK, let's step you through it.

To enter a receive money transaction

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  1. From the Banking menu, choose Receive money. The Create receive money transaction page appears.

  2. In the Bank account field, select the account the money is being deposited into. This must be an account with the type Banking or Credit CardLearn about your accounts list.

  3. If you want, select the Contact (payer) you're receiving the payment from. If you'd like to add a new contact, click the dropdown arrow for the Contact field and choose Create contact. Find out more about Adding, editing and deleting customers and suppliers.

  4. Enter a Description of transaction. This should describe the overall nature of the transaction—for example, one deposit may be for a number of items (e.g. a monthly deposit for bank interest).

  5. Make sure the Reference number is correct. If not, enter a new number.

  6. Check that the correct date is selected in the Date field. If not, enter a new date or click the icon next to it to display the calendar and choose a date.

  7. Choose whether the transaction amounts are Tax inclusive or Tax exclusive.

  8. Enter the details of the transaction:

    1. In the Account column, select the account to which the deposit amount will be allocated. The tax code for the chosen account will appear in the Tax code column (but you can change this if needed). If you'd like to add a new account, click the dropdown arrow for the Account field and choose Create account. Find out more about Adding, editing and deleting accounts.

    2. In the Amount column, enter the amount you want to allocate to this account.

      There's a built-in calculator in the Amount and Quantity fields. Just enter a calculation in the field and tab out of it:

    3. (Optional) If you need to record a quantity associated with this receipt, enter it in the Quantity column.

    4. In the Description column, add a short description about the item for which you’re receiving a deposit.

    5. (Optional) Choose a Job if the line item relates to a specific job. Tell me more about jobs.

    6. If required, change the Tax code.

    7. If you’re receiving a deposit for more than one item in this transaction, repeat step 8 for each item. To delete a line, click the delete icon  for that line.

  9. Check that the total amount you’re depositing is equal to the total amount displayed at the bottom of the page, including tax or GST. If it’s not, check that you’ve entered the correct amounts.

  10. If you want, you can save this transaction as a recurring receive money. This is ideal for repeat payments, like interest payments.

    1. Click Save as recurring.

    2. Enter the recurring transaction Schedule name.

    3. Choose the Frequency, such as DailyWeekly or Monthly.

    4. Choose the date the recurring transaction will start.

    5. Select how many times you want the transaction to recur.

    6. Click Save.
      For more information on recurring transactions, see Recurring transactions.

  11. When you're done, click Record, or if you need to create another receive money transaction, choose an option under Record and new

    Record and new options in Receive Money

    • Click Record and create new to record the transaction and create a new one

    • Click Record and duplicate to record the transaction and create a new one with the same details (which you can then edit).

To edit a receive money transaction

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  1. From the Banking menu, choose Find transactions.

  2. Filter the transaction list as required.

    1. For the Source Journal, choose Cash Receipts.

    2. Enter a Date from and Date to date to find transactions within a date range.

    3. Enter all or part of the transaction's Description.
      Matching transactions will be displayed. Receive money transactions have a reference number starting with "CR".

  3. Click the transaction's Reference number to display its details.

  4. Make the required changes to the transaction. If the transaction:

    • has not been reconciled or matched, you can change any details you require.

    • has been reconciled or matched, you can change everything except: the account into which the deposit was received, the date, the reference number and the total amount of the transaction. You can change the amounts of individual line items, as long as the Total Amount shown at the bottom of the page remains the same.

    • If you need to change any other details, you’ll need to unreconcile or unmatch the transaction before editing it. See Undoing a bank reconciliation and Matching bank transactions for more information.

  5. Click Save.

To delete a receive money transaction

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  1. From the Banking menu, choose Find transactions.

  2. Filter the transaction list as required.

    1. For the Source Journal, choose Cash Receipts.

    2. Enter a From and To date to find transactions within a date range.

    3. Enter all or part of the transaction's Description.
      Matching transactions will be displayed. Receive money transactions have a reference number starting with "CR".

  3. Click the transaction's Reference number to display its details.

  4. Click Delete at the bottom of the page. A confirmation message appears. If the transaction has been reconciled, deleting it will affect your next bank reconciliation.

  5. Click Delete to the confirmation message.

If the deleted receive money transaction was created from a bank feed transaction, you'll need to allocate the transaction again.