Module 5 · Core · 9 min read

Receipts and payments

You will be able to: Record a customer receipt and a supplier payment; Explain the entries and how bills are matched to money; Handle money left over as on account or advance; Correct or reverse a posted voucher.

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A receipt voucher records money coming in from a customer. A payment voucher records money going out to a supplier. Both live under Accounting (Receipts and Payments). They match the money to open invoices or bills, settle them, and keep any extra on account. The sales and purchase documents record what is owed; these vouchers record that it was paid.

Record a customer receipt and settle an invoice · 0:44 · no sound yet, captions are on
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1. Open Accounting, then Receipts 2. Press + New 3. Pick the customer in Received From 4. Open Items lists what they still owe, oldest first 5. Type the Amount received 6. Press Submit: the invoice shows less outstanding

A new Receipt Voucher with a customer in Received From and the open invoices listed to allocate, the payment mode and amount.

Accounting, Receipts: pick the customer and Open Items loads, oldest first.

Accounting, Receipts: pick the customer and Open Items loads, oldest first.

Receipt voucher

  1. Open Accounting, Receipts and press + New.
  2. Pick the customer in Received From. Check the Date, which must fall in an open fiscal year.
  3. Choose the Mode (Cash, Bank Transfer, Card, Cheque and so on, or PDC Cheque) and type the Amount.
  4. In Open Items leave the Allocate boxes empty to settle the oldest invoices first, or type amounts against the invoices you choose.
  5. Press Submit. The Outstanding column of the Sales Invoices list shows the invoices now cleared.

Submit debits the account behind the Mode for the full amount, credits Trade Receivables for the customer against each invoice settled, and credits Customer Advances for any money left over. For a PDC Cheque the debit goes to PDC Receivable instead, and the cheque waits in PDC Management.

A bank transfer from a customerA customer has two open invoices: INV-201 for AED 1,050 and INV-202 for AED 2,100. They transfer AED 2,000. With Allocate empty, INV-201 is cleared (1,050) and INV-202 receives 950, leaving 1,150. Entry: debit Bank 2,000, credit Trade Receivables 2,000. If the customer had sent 5,000 instead, 3,150 would clear both invoices and 1,850 would be credited to Customer Advances and stay on account.

Payment voucher

The payment voucher mirrors the receipt: Paid To picks the supplier, Open Items lists what you owe, and Submit credits the account behind the Mode for the full Amount, debits Trade Payables for each bill settled, and debits Supplier Advances for any extra. A PDC Cheque credits PDC Payable until the bank pays it.

A new Payment Voucher with a supplier in Paid To, open bills listed, the mode and the amount.

Accounting, Payments looks like the receipt, for money going out.

Accounting, Payments looks like the receipt, for money going out.
  • Reference: shown for card and bank transfer modes. It is required when the mode is set to require one in Settings, Payment Modes.
  • Cheque No and Cheque Date: shown for PDC Cheque, and for cheque modes. Required for PDC Cheque.
  • Bank Account: optional tag for reconciliation, as described in the previous lesson.
  • Currency and Rate: another currency settles only bills raised in that currency. Any gap between the rate of the payment and the rate of the bill goes to Realized FX Gain or Loss.
Watch outAfter Submit, the Allocation table lists only the bills you picked yourself. If you left the boxes empty, Zeyto still settles the oldest, but the table can look empty and On account can show the whole Amount. Check the Outstanding column of the invoice list instead.

Amend and cancel

A posted voucher is never edited in place. Amend reverses it and posts the corrected version, with /A1 added to the number. Cancel reverses it and undoes its allocation, so the bills are open again. A draft changes nothing in your accounts and cannot be deleted; it is safe to leave. Once the cheque of a PDC voucher has been Deposited, Cleared or Bounced, the voucher can no longer be amended or cancelled.

TipZeyto settles bills in the voucher currency only. If a customer pays a foreign-currency invoice in dirhams, raise the voucher in the invoice's currency, or leave the amount on account and allocate later.

Try it in the demo

  1. Open demo.zeyto.app/demo-app/ and sign in with the public demo user (admin, password demoAdmin123).
  2. Open Accounting, Receipts and press + New.
  3. Pick a customer in Received From and watch Open Items load, oldest first.
  4. Change Mode to PDC Cheque and note the extra fields (Cheque No, Cheque Date, Cheque Bank).
  5. Open Accounting, Payments and compare the form with the receipt form.
Open the live demo

Public demo company, sign in as admin / demoAdmin123. Data refreshes nightly.

Key takeaways
  • A receipt debits cash or bank and credits Trade Receivables; a payment is the mirror.
  • Empty Allocate boxes settle the oldest items first.
  • Money left over stays on account as an advance.
  • Amend and Cancel reverse; drafts post nothing.

Check yourself

1 question on this lesson. Not timed, not the exam, and you can try again. Score 60% or more, and read the lesson, to complete it.

1. A customer receipt for AED 2,000 by bank transfer posts which entry?

Previous: Cash, bank accounts and payment modesNext: Bank entries and transfers between accounts

Practice questions for this module · Printable study sheet