Tracking invoices to full payment is a critical task. Prompt receipt and recording of payments results in the most up-to-date information, driving cash flow and other management decisions as well as affecting billing decisions. Through the Payment screen, you can record a variety of payments manually or automatically. Real-time access to secure online payment services is also available.
The Payment screen enables you to record a payment against an invoice or a billing statement, and apply discounts and credits. This screen allows direct input of payment information as well as a review of previously recorded payments. When recording payments, you can distribute the payment among multiple invoices on either a client or project basis. A payment might cover one or more invoices, or it might not completely cover an invoice. You can apply a payment manually to each invoice or let Web Suite apply it automatically.
Web Suite allows you to record various types of payments– checks, cash, debit, credit memos, retainer receipts, electronic funds transfer and so on – and apply them to unpaid invoices. You can apply payments to regular invoices, electronic invoices as well as late fee invoices. You can also record retainer payments from this screen and create credit memos for a ‘Credit’ type of payment recorded against an invoice. That is used to inform clients that you have reduced their outstanding balance.
The Payment screen enables you to view previous payments and also the associated retainer information. You can choose to show or hide void payments. Web Suite also allows you to add a payment memo and client note to the transaction.