Why record a cash payment?
When a customer pays you by cheque, credit card, cash or direct transfer to your bank, you need to record the receipt of payment in Wiise. You can use the cash receipt journal before you’ve created the sales invoice to record a cash payment from a customer. It also allows you to record payments for multiple customers in one go, and you can send payments to different bank accounts too. Handy!
How to process a cash receipt journal
In Wiise, you use the Cash Receipt Journal to record payments you receive before you've created an invoice. The cash receipt journal lets you record payments in the main accounting record (the general ledger) in Wiise.
1. Log into Wiise.
2. Search for Cash Receipt Journals and select Cash Receipt — Tasks. This will display the Cash Receipt Journal page.
3. Now you can enter the detail of the payment/s received.
4. First, enter the Posting Date. It will default to today’s date, but you can change it, to back date an invoice for example.
Note: When you enter dates in Wiise, you don’t need to use / or . between the numbers. For 1st June 2020, you can enter 010620 and it will convert the value to 01/06/2020 for you.
5. In the Document Type field, select Payment. This makes it easier to see the transaction types entered for that customer.
6. Leave the Document No. field as is.
7. In the Account Type field, select Customer.
8. In the Account No. field, you can find the customer in a few ways:
- Type the customer’s name, or
- Select the down arrow to the right of the field to see a short list, or
- Select Select from Full List and select from this list.
9. Once you’ve selected the Account No., the Description field will be filled in with the customer’s name.
10. In the Amount field, enter the payment amount. This should be a negative value, which will reduce the amount owing on the customer’s account.
11. In the Bal. Account Type, select Bank Account.
12. In the Bal. Account No., select the bank account that will receive the payment.
13. In the Applies-to Doc. Type field, select Invoice to apply the payment to a sales invoice.
14. In the Applies-to Doc. No. field, click the ellipsis — this will display the Apply Customer Entries page with the list of this customer’s outstanding invoices. The red font means the invoice is past its due date.
15. Select the invoice the customer has paid and select OK. The Invoice No. will be filled in on the Applies-to Doc. No. field.
16. Repeat steps 4 — 15 until you’ve entered all the payments you’re processing, adding a new line for each payment.
a. If you need to delete a line, click the ellipsis and select Delete Line:
b. Wiise will ask if you want to Go ahead and delete? Select yes or no.
17. If you want preview the changes to the payment journal, select Post/Print and then Preview Posting.
- Wiise will show you a preview of entries that will be created when you complete the payment.
- It will also alert you to any errors found during the process. You can fix these before you complete the payment to the bank account and general ledger in Wiise.
18. If you want to print a report to show the payments for review, select Actions then Posting then Test Report. This will display the General Journal – Test option page. Select Preview to view the detail of the report.
19. When you’re happy with all the entries and are ready to complete the payment/s, select Post/Print and select Post.
20. Wiise will ask you to confirm that you’re ready to post the journal lines. Select Yes to post.
21. A message will tell you that the journal lines were posted successfully and the cash receipt journal lines will be deleted.
Note: The lines you create in the cash receipt journal are draft transactions – they haven’t been sent to the general ledger yet. When you post journal lines, the related transactions – sales, purchases, GST etc – are created as entries in the relevant general ledger account/s.
You can view this transaction history within the specific general ledger account or by searching for General Ledger Entries – Archive.