[Angie Boyle]

Each month we have customers who remit funds to us based on contracts in place or other fees for which we don’t issue invoices. However we do issue invoices for certain services we provide. What is the best way to track funds received without an invoice being issued first and also tracking payments received for invoices that are issued? Is it recommended to use sales transaction entry and/or transaction entry?
Thank you.

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Angie Boyle
Valley Regional Fire Authority
Auburn WA
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[Charles Allen]

?For the cash receipts unrelated to invoices, if no invoice will ever be received,  you could enter a transaction via Receivables Transaction Entry. You can enter the cash receipt on the transaction so you wind up with a debit to cash and a credit to whatever.

If the cash receipt will eventually be applied to an invoice, you would enter it as a cash receipt and leave it unapplied.

Lastly, if you are receiving cash receipts for invoices, then that process would either be done via cash receipts or when the invoice is entered, depending on the timing.

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Charles Allen
Senior Managing Consultant
BKD Technologies
Houston, TX
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[Habib Salim]

I would use transaction entry as invoice with payment for the no-invoice transactions.
(i would not use bank transaction entry)

It sounds like you are creating the invoices outside GP.  if so,  I would record the invoice in GP using Receivable transaction entry. otherwise use Sales transactions to create the invoice.

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Habib Salim
HSalim & Co. Inc.
Bronxville NY
https://pivotviews.com
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