Invoice Payments: Payment Recording

In MYOB Advanced, you can create the following types of payment documents: Payment, Prepayment, and Customer Refund. The information in this topic applies to documents of all these types.

Note: In this topic, the term payment is used for payment documents of the three mentioned types if a type is not stated explicitly.

In this topic, you will read about the forms you can use to create a payment, the structure of a payment document, and other details.

Payment Creation Sources

In MYOB Advanced, a user can manually enter an Accounts Receivable payment from the following forms:

Also, a payment of the Payment type can be generated by the system (and available for working with on the Payments and Applications form) when you initiate the creation of payment documents for customers whose default payment methods are credit cards by using the Generate Payments (AR511000) form. For details, see Processing Credit Card Payments.

Document Structure

Regardless of how a payment document is created, it has the same groups of settings, which are described in this section:

  • Summary: Settings that are located in the Summary area of the form define the general information required for issuing the payment. When you create a new document, the system inserts the current business date as the date of application and the corresponding post period. When you select the identifier of the customer account, the system uses the customer as a source to automatically fill in most settings needed for processing the payment. All settings filled in by the system can be manually overridden.
  • Financial details: This group of settings, located on the Financial tab, defines the General Ledger accounts where the payment transactions are recorded after a user releases the payment. The system fills in the values for these settings automatically when you select a customer account, but they can be manually overridden. When you create a new document, the system also inserts the current business date as the payment date and the corresponding post period.
  • Application details: Each outstanding document that you want to pay with the payment is specified in a separate line of the table on the Documents to Apply tab. The payment document can be applied to multiple outstanding documents. For each line, you specify the amount to be paid in the Amount Paid column. For details, see Invoice Payments: Manual Payment Application.
  • Balance details: Read-only elements in the Summary area of the form display how the amount of the payment document has been distributed and currently available balance (the amount that is not applied). The system updates the values of these elements when you modify application details.

When you save the document for the first time, the system generates a unique reference number for the payment document in accordance with the numbering sequence assigned to corresponding payment document on the General tab of the Accounts Receivable Preferences (AR101000) form.

Registration of Bank Charges

If bank charges for customer payments are configured in your system, you can specify the amounts of these charges on each payment document that is processed by the bank on the Charges tab. The amount of finance charges is displayed in the Summary area in the following boxes:

  • Finance Charges: The total of finance charges included in the payment amount. That is, the entry type used to record the charge has the Deduct from Payment check box cleared on the Entry Types (CA203000) form.
  • Deducted Charges: The total of finance charges deducted from the payment amount. That is, the entry type used to record the charge has the Deduct from Payment check box selected on the Entry Types form.

For details, see Registration of Finance Charges.

Attachment of the Original Document

For user reference, you can attach to each entered payment a scanned image of the original customer document or an electronic version of the customer document. For details, see To Attach a File to a Record.