Recording of Receipts

Receipt means the amount we receive against the sale we made to our customer. This is used when we received amount of credit sales. The receipts window allows you to enter all checks, cash, and credit card slips you receive and deposit them in your checking account. There are two ways you can account for receipts in Peachtree:

·         If you sent an invoice to a customer, you apply the receipt to the invoice. Invoices entered in the Sales/Invoicing window appear as distribution lines when you enter the customer ID. You can check the Pay column beside each invoice being paid in full by this receipt.

·         If you made a direct sale that didn't require an invoice, you use Receipts and enter it on the Apply to Revenues tab. This requires you to specify a check number and sales account.

To record the receipts in the Peachtree go to the task drop down menu and select the option receipts. As shown in figure:

When you will click the receipts option the new window will open at your screen.

Now in the above mentioned window select the customer’s ID from which you are going to receive your receipts against the sale you made. Now the recording of receipts can be made by two ways either against the sales invoice you have already issued to the customer or by the direct sale. First we will see the method of direct receipts. Select the customer from which you have to receive the cash if you have not made the invoice against that customer the tab of “apply to revenues” will not shift to the tab “apply to invoices”. Enter the reference number, receipt number and the date on which you are recording the data. Fill out the requirements like quantity, item, description and unit price. The total amount will be calculated automatically. The receipt number is mandatory to enter. Click the save button in order to save your work.

Now if you are receiving the cash against your sales invoice made already. Select the customer ID the tab will shift from “apply to revenues” to apply to invoice”. The invoice number, date due for the receipt and the amount will be filled automatically. You just have to write the amount received. When you will press enter after writing the amount the next box “pay” will be tick marked automatically. Now save your transaction by clicking the button “save”.