CenterPoint^® Fund Accounting - Enter a Receipt

Related Help

This topic provides step-by-step instructions on how to enter a transaction for receipts (for example, check) .

Note: If you need to enter a receipt that should be applied to a customers balance, please refer to the Enter a Receipt Applied to Customer Open Invoices topic instead.

CenterPoint offers multiple ways to customize the transaction entry screens. This customization will enable you to enter transactions more efficiently. Click here to view a document that describes the customization you can perform. Click here for an overview of transaction entry.

Entering a Receipt:

Select Processes > Sales > Receipts.

For this type of a transaction we will be using only a few of the fields that are available in the receipts screen. Begin by selecting the Bank Account where the funds are being deposited.

Note: To save time & keystrokes, use the Options button at the bottom of the screen to turn off those fields that you are not using in the receipts screen. If using bank deposits, a Bank Deposit can also be selected.

In the Received From field, enter the appropriate name, , click the Lookup icon to lookup the name or clickthe New or New One Time Use button to create a new name, right-click and select New to create a new name, or right-click and select Invoice Search to enter an invoice number to find the customer. .
Select the Recurring icon . The Recurring button will display with a yellow background if a name has an applicable recurring transaction. The button also allows you to determine the action that will be taken when this name is used on the Receipts screen and to view recurring transactions assigned to this name. This icon can be included in the tab stop order by clicking the Options button, selecting Set Tab Stops, and selecting Received From Recurring Button. You can also right-click on the Received From box and select Transaction Actions to set the transaction actions.

The actions that can be set for the selected name are:

Leave Transaction Empty – Basically, when this is set on a name and the name is selected in a transaction, no special action will take place. The user simply enters in the details of the transaction.
Recall the Last Transaction for this Name – When this option is set and the name is selected in a transaction, the details of the last previously entered transaction for this name will be filled into the screen. This allows you to use the same setup for this new transaction without having to re-enter all of the details.
Load the Default Recurring Transaction for this Name – When a transaction is entered for a name, it can be saved as a recurring transaction. This means that there might be future transactions to the same name that are likely to have the same details filled in each time. Multiple recurring transactions can be setup for one name, but only one can be loaded by default and that is the one marked as the default recurring transaction. If there is only one recurring transaction for a name, it is the default.

If you enter a name into the Received From box and it does not exist, the Lookup screen automatically displays, from this screen you can either Create a New Name or Create a One-Time Use Name:

Create a New Name - If you enter a name into the Received From box and it does not exist, the Lookup screen automatically displays. Click New . The Names Setup screen displays with the name that you entered automatically displaying in the Company/Fund box. Complete the additional details to create the name and then click Save. When creating a new name through the Name Setup screen, you can identify a name as a customer, vendor, employee, or salesperson. Doing so determines which data entry screen that name will be visible on. If a name is not marked as a vendor, it will not appear on the Payments screen. Likewise, if a name is not marked as a customer, it will not appear on the Receipts screen.
Create a One-Time Use Name - If you enter a name into the Received From box and it does not exist, the Lookup screen automatically displays. Click New One Time Use. The New One Time Use screen displays with the name that you entered automatically displaying in the Name box. Complete the additional details to create the one time use name and then click Save (the one time use name will be automatically marked as a vendor and customer). When creating a new name through the New One Time Use screen, the name is automatically saved as an inactive name in all companies/funds so it does not appear in Name lookups (unless you chose to lookup inactive names).

If your File > Preferences > General > Defaults > Lookup Field Settings are set to Use Auto-Complete, and you change a name after detail is entered on the lines of a transaction, the transaction is cleared and any transaction action (leave the transaction empty, recall the last transaction, or load the default recurring transaction) for the new name will occur.

If your File > Preferences > General > Defaults > Lookup Field Settings are set to Allow To Query for Items On Multiple Fields, and If you change a name after detail is entered on the lines of a transaction, you will be asked if you would like to clear the information for the current transaction. If you select Yes, the transaction will be cleared and any transaction action (leave the transaction empty, recall the last transaction, or load the default recurring transaction) for the new name will occur. If you select No, the detail lines from the transaction will remain and if the new name was assigned a transaction action (leave the transaction empty, recall the last transaction, or load the default recurring transaction), the transaction action will not occur.

To review transactions in a Transaction Search screen for the selected name, entry screen, and current year, right-click in the Received From box, and select Review Transactions.

If this transaction is a recurring transaction, see the Set a Transaction as Recurring or the Use a Recurring Transaction procedures for more information. If you want tor recall a previous transaction for this name, see the Recall a Transaction procedure.

To select a different address for this name, click the Lookup icon in the Received From Address box, select the address, and then click OKTo create a new address, right-click in the Received From Address box, select New, enter the address details, and then click Save. To edit an existing address, right-click in the Received From Address box, select Edit,enter your changes, and then click Save .
In the Check/Ref # box, enter a number that identifies the payment type, for example check or credit card number (up to 20 characters). If you want to repeat the previous line's Invoice/Ref# entry, right-click in the Invoice/Ref # column and select Repeat Previous Value. Messages will display when duplicate sequence numbers are found based on the Duplicates and the Check When fields in Setup > General > Numbering Sequence. The messages inform you if a duplicate sequence number was found and how the duplicate sequence number should be replaced with a new sequence number, automatically or manually.
In the Date field, enter the date of the receipt. Enter the Amount of the receipt.
In the Payment Type box, select the type of receipt that is being made, check, cash, credit card, etc.
If the payment type you selected was assigned a payment type of Other, the account assigned to the payment type will display in the Account box, and the Bank Account and Bank Deposit lookups are disabled. Instead of the bank account, the “Payment Type Account” is used as the offset to all journal entries on the Receipts screen.
In the lower grid portion of the receipt, enter the first Account (normally a revenue/sales account, but depending on the situation, may also be an expense account) that is affected by this receipt.

Note: The fields that are displayed in the grid can be customized. In the example displayed above, we've chosen to only display the Account and Amount fields. To customize your grid, right click anywhere in the grid area and choose Add/Remove Columns.

If you click the Detail button in the data entry grid, you can enter additional details about the transaction, for example for some of the fields you chose not to display on the data entry grid such as associated account, notation, and department. You can also display an Account Balances screen by clicking in the Account box on the Detail screen. This screen will display the latest period balances for the account entered on the grid. If the account is not a balance sheet account, a balance will not display.

Enter the Amount that should be applied to this account.

Note: if a revenue/sales account was used in the Account field the amount should be entered as a positive. If an expense account was used (to lower the expense balance) the amount should be entered as a negative.

If you set the File > Preferences > Accounts > Personal Accounts preference and marked accounts as personal accounts and have a company marked with company type = Personal, you can add a Company column to the data entry grid that will allow you to identify personal vs farm transactions by selecting a company for each line on the data entry grid. This will allow to easily repare consolidated or separate financial reports for your personal/farm companies.
If funds should be posted to additional accounts, simply tab down to the next line in the grid and repeat the prior two steps until the Total field equals the Amount field at the top of the screen.
The Email or Print Options selected on the Email/Print tab in Setup > Names > Names and Setup > Customers will determine the default setting for the Print (an image of a printer displays on the button) and E-mail (an image of an envelope displays on the button ) buttons (the selection can be changed on this screen). If the Print or E-mail buttons display with a red X, it means the receipt will not be printed or e-mailed when the receipt is saved. If the Print or E-mail buttons display with a green check mark, it means the receipt will be printed or e-mailed when the receipt is saved. To override the Print button default setting, click the Print button to display the Print Setting screen where you can override the Print Receipt setting for this receipt only, select the printer to print the receipt to, the number of copies of the receipt to print, and the form the receipt should be printed on. To override the E-mail button setting for this receipt only, click the E-mail button to display the Email Settings screen where you can override the E-mail Receipt setting and the default To, CC, BCC, From, Subject, Message, and form the receipt should be e-mailed on.

Note: If you want to attach a document to this transaction, see the Attach Documents to Transactions topic for detailed information.

Click Save to complete the transaction.

Document: 3034

CenterPoint® Fund Accounting - Enter a Receipt

Entering a Receipt:

CenterPoint^® Fund Accounting - Enter a Receipt