Journals
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      Set up and Post a Cash Receipts Journal  

      Overview:  

      • Create a cash receipts journal and apply amounts to open invoices  
      • Post cash receipts journal  

      Why set up and post a cash receipts journal? 

      Use the cash receipts journal to record incoming payments from your customers. This allows you to maintain accurate records of cash inflows and customer accounts.  

      How to set up and post a cash receipts journal? 

      Here are the steps to set up a cash receipts journal, apply entries, and post the journal in Wiise given you have received remittance advice from a customer and have funds deposited in your bank account. 

      1. Search for Cash Receipts Journal on the top right-hand corner of the page. Select the related link. The batch page displays.  70
        Note: If your role profile is a Business Manager, you can select Cash Management on your Wiise landing page. Then, select Cash Receipt Journals.  
      2. Select a journal batch Name to use. 
         
        Note: If no batch exists, select +New to create a new journal batch. 
      3. Fill in the journal lines.  
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        1. Posting Date: This is when the transaction is posted.  
        2. Document Type: Select Payment from the drop-down menu.  
        3. Account Type: Select Customer or a related type. 
        4. Account No: Select the customer or account number 
        5. Description: Enter a brief description of the transaction 
        6. Amount: Enter the amount received as a negative amount 
        7. Bal. Account Type: Select Bank Account or another type as applicable.  
        8. Bal. Account No.,: Select the bank account number that is applicable.  
      4. Select Home. Then, select Apply Entries. The Apply Customer Entries window is displayed for the customer.  
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      5. Select the open entries row that you want to apply the payment against.  
      6. Then, select Set Applies-to ID to mark the entries you want to apply.  
      7. Select OK to confirm your selection.  
      8. The Applies-to ID field in the journal line is filled, indicating the entry has been applied. 
      9. Review for accuracy and then post the journal lines. Select Post/Print from the menu and then select Post or Post and Print when you need a printed confirmation. 
      10. A message displays to confirm the posting action. 
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        1. Select Yes to continue or select No to stay on the page.  
        2. A message confirms that the journal lines were successfully posted.  
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        3. Select OK to continue. 
      11. You’ve set up and posted a cash receipts journal. 

       

      Note: You can verify the posted entries in the Customer Ledger Entries.  

      Note: You can verify the entries posted to the bank account to ensure they match the cash receipts journal in the Bank Account Ledger Entries.  

      Note: When you have regular cash receipts, you can set up recurring journals.  

      Note: You’ll need to set up approval workflows, when you require managerial approval before posting your cash receipts.   

       

      What’s next?  

      Find out how to send customer statements.  

        

      Need more help?     

      No problem, that's what we're here for. Reach out to support@wiise.com anytime you can't find what you're looking for.