Use this method when you have a Client or Vendor profile that has an open invoice and an open voucher on the same profile.
- Enter the Amount of the payment.
- If the invoice and the voucher have the same value, the amount will be $0
- If the value of the invoice and the value of the voucher are not the same, and this is a client profile, you have a couple of options:
- If the value of the invoice is greater than the value of the voucher
- Enter a payment for the amount of the variance and close the invoice and the voucher
- If the value of the voucher is greater than the value of the invoice
- Enter a $0 payment and close the invoice and the voucher, create an new voucher for the variance
- On a client profile, you also have the option to enter a $0 payment and close the invoice and enter a Partial Payment on the voucher. The applied amount will be entered as a negative value (Example –150.00) as you are reducing the amount of the voucher
- If the value of the invoice is greater than the value of the voucher
- Select the payment type (either Received or Made)
- Enter the payment date
- Enter the Remarks
- Select the correct bank account (if the amount is $0, use the default bank account)
- Payment method will be either Other, cash or check
- If a check is involved with his payment, enter the check number.
- Select the Profile type
- Enter profile name.
- Query for open invoices
- Toggle the appropriate invoices and vouchers closed
- If the amount is $0, you will be seeing a prompt that reads “Payment Amount Is Zero - - Continue?” Click OK
- If the amount is $0 and you are prompted for a journal entry, say no, or cancel the journal entry
- Check the balance at the bottom of the payment and verify the accuracy and then click OK to save the payment