Payment Receipt Batch

Overview

Payment receipt batch is used to receive multiple payments into undeposited funds account (a special system defined GL account) and then when the payment clears your bank, you would deposit the payments into your bank GL account. If you do not wish to use undeposited funds account, then there is no need to use the payment receipt batch. You can record the payment straight into your bank GL account via Invoices menu, Receive Payment.

Create a new Payment Receipt Batch

A new batch can be created from Invoice menu, Receipt Batches, List batches.

It can also be created from receive payment page or Post and Pay area in invoice and order page. Make sure you choose the option UNDEPOSITED FUNDS under Receive To Account. There is a new link next to the text Receipt Batch. This allows you to create a new batch in a popup window.

Recording Payments Into the Batch

To record payments into a batch, when creating a new payment, make sure you choose the option UNDEPOSITED FUNDS under Receive To Account and selected the correct batch from the list under Receipt Batch. This will post the new payment against this batch.

To see all the payments you have posted, you can go to Invoice menu, List Batch and find the right batch to view.

Or you can go to Invoice menu, Undeposited Funds to see a report of all transactions posted to Undeposited Funds. 

When viewing a unposted batch, there is an option to assign a payment to another batch (if a payment was included in the wrong batch). To deposit the payments in a batch into a bank GL account, use the deposit area at the bottom of the batch page to enter a date and the bank GL account to complete the deposit.

Video Walkthrough