In this how-to we will explore the payment means function and take a look at the detail on each of the tabs for both incoming and outgoing payments.  Incoming payments are received in from your customers as payment for supplies or services rendered.  Outgoing payments are to send out to vendors for supplies or services that were provided to you, or other payments.

A/R Incoming Payments, Deposits and Credit Card Management

Incoming Payment

Go To > Banking > Incoming Payments
Enter required Information and Click on Payment Means.

Check Tab
Enter required Information.  When recording the Incoming Payment on Check tab the Journal Entry Debits Checking Account Clearing and Credits AR Trade account.   You must then record a Deposit.

Bank Transfer Tab
Enter required Information.  When recording the Incoming Payment on Bank Transfer tab the Journal Entry Debits Cash Account and Credits AR Trade account.  This goes directly to Bank Reconciliation.

 
Credit Card Tab
Enter required Information.  When recording the Incoming Payment on Credit Card tab the Journal Entry Debits Credit Card Clearing Account and Credits AR Trade account.   You must then go to Credit Card Management to move it to Cash Account.
 
 
 
Deposits for Checks
 
Go To > Banking > Deposits > Deposits.  Enter Required Information and Click Add. When recording the Deposit the Journal Entry Debits Cash and Credits Checking Account Clearing.  

 
Credit Card Management
 
Go To > Banking > Incoming Payments > Credit Card Management

Enter Selection Criteria and Click OK.  (Optionally you can Check the Box Display Undeposited Vouchers Only)



Select Credit Card Payment and Click Endorsement



Journal Entry Window opens, Enter offsetting GL Accounts. Example Cash and Credit Card Fees. Click Add.


 
 
 

A/P Outgoing Payments and Checks for Payment

 
The main difference between incoming and outgoing payments is the need to define an account for the different payment means. For example if you create an outgoing payment with cash, you must select the outgoing cash account for the transaction. In this case, it can be your house bank account or a petty cash account.
 

Outgoing Payments

 
Go To > Banking > Outgoing Payments > Outgoing Payments
Enter required Information and Click on Payment Means.


 

Check Tab
Enter required Information.  When recording the Outgoing Payment on Check tab, the Journal Entry Debits AP Trade account and Credits Cash.
  
Bank Transfer Tab
Enter required Information.  When recording the Outgoing Payment on Bank Transfer tab the Journal Entry Debits AP Trade account and Credits Cash.  This goes directly to Bank Reconciliation.


 
Credit Card Tab
Enter required Information.  When recording the Outgoing Payment on Credit Card tab the Journal Entry Debits AP Trade account and Credits Credit Card Clearing.   When the AP Invoice comes in from the Credit Card company, you will record the AP invoice and on the expense lines, reference the Credit card clearing.

 
 
For more articles, check the main Aether Help Docs page.