Where balances come from
A receivable is money a customer owes you. Today it comes from sales made on account at the till to a named customer, and from online orders sent before they are paid. Each such sale adds to the customer's balance on Accounts receivable.
Finance → Receivables shows the total Balance, then one row per customer with Phone, Not yet due, 1-30 days, Over 30 days and Balance. Charges are aged from the sale date.
An on-account sale at the till needs a named customer on the sale, so the amount can be kept against that person. The same balances, split into more age bands, are under Finance → Reports → Aged receivables.
Record a receipt
- Click Record receipt at the top, or on the customer's row.
- Choose the Customer by name or phone.
- Set the Date and Received into (the cash or bank account the money went into).
- Enter the Amount, and a Reference such as a cheque or transfer number.
- Click Record receipt. The customer's balance goes down, oldest charges first.
Send a statement
Click Statement on a customer's row to see their Opening balance, each Charge and Receipt with its entry and source, the running Balance and the Closing balance. Use it to answer a customer who asks what they owe.
Void a receipt
The Receipts list under the table shows every receipt. If one was entered by mistake or a cheque bounced, click Void and confirm. The receipt's journal entry is reversed and the customer's balance goes back up.
Customer invoices written outside the till are not part of Receivables yet.
More in this area
- Finance: how your books fill themselves
- What posts to the books, and when
- Unposted events: fix, retry or backfill
- Chart of accounts and opening balances
- The journal: manual entries and reversals
- Periods and month-end close
- Financial reports: P&L, balance sheet, cash flow, trial balance, ledger and VAT
- Supplier invoices and payments
- Bank reconciliation