Money in: the whole path

What this does

Accounting → Money In is everything between a customer owing you money and that money being in the bank. Four events, in order: an invoice is issued (receivable created), a payment is recorded (receivable cleared, money held), a deposit is posted (money reaches the bank), the bank shows the credit (reconciled). The screens under Money In each own one step.

The screens

Invoices — the accounting view of every invoice, with balances and status; the same invoices the counter creates. Recurring Invoices — templates that generate draft invoices on a schedule. Customer Payments — record one payment across several invoices, for a check that covers three jobs. Deposits — group held payments into the deposit the bank will show, and post it; Bulk Apply Deposits does the same from the bank's side. Statements — periodic statements to customers on account, with a review gate before sending. Credit Memos — money you owe a customer back, applied to invoices or refunded. Discount Codes — promotional codes applied at the counter. Aging Report — what's owed, by how long.

What posts where

Issue: Dr Accounts Receivable / Cr revenue / Cr Sales Tax Payable. Payment: Dr Undeposited Funds / Cr AR (or Dr bank if the holding switch is off). Deposit: Dr bank / Cr Undeposited Funds, with any processor fee to 6600. Credit memo: Dr contra-revenue and Dr Sales Tax Payable / Cr AR. Refund of a credit: Dr AR / Cr bank or cash.

Each posts once. Every screen refuses on or before the lock date, and every nightly check watches the result; see Nightly checks.

Common problems

Where's the money? Receivable until paid; Undeposited Funds until deposited; bank after. Aging Report, the Deposits candidate list, and the bank register answer the three states in that order.

A customer paid online and nothing here changed. Online card payments post the payment step automatically and appear as deposit candidates when the payout arrives. They are never recorded by hand.