Introduction
Businesses need to maintain accurate records of payments received against invoices, along with the relevant customer, invoice, payment, and transaction details. The Invoice Receipt feature in Acculyt AI allows organizations to record and manage invoice-related receipts in a structured and organized manner.
Overview
The Invoice Receipt feature in Acculyt AI allows organizations to record payments received against invoices by maintaining customer, invoice, receipt, payment, and account information. This helps businesses track invoice settlements, monitor outstanding amounts, and maintain organized payment records.
How It Works
The Invoice Receipt process allows users to identify the relevant customer and invoice and record the amount received against the outstanding invoice. Users can enter the applicable payment details and allocate the received amount to the selected invoice.
Once the receipt is recorded, the payment is reflected against the relevant invoice, helping users track the remaining outstanding balance and maintain up-to-date customer receivable records.
Managing Invoice Receipts In Acculyt AI
To add a new invoice receipt, review the applicable Invoice #, Total Amount, Partial Received, and Receivable amounts. Enter the amount received in Received Now based on the outstanding receivable.
Enter the Main Narration to provide an overall description of the receipt. If supporting documents are required, add them under Attachments. The system allows PDF, image, Word, and Excel files, with a maximum size of 5 MB for each file.
Enter the applicable Adjustment, Income Tax Withheld, and Sales Tax Withheld amounts. Before saving the invoice receipt, verify the Total amount to ensure that the receipt details are correctly recorded.
Enter the correct Receipt Date and Invoice details.
Ensure all mandatory fields are completed before saving the invoice receipt.
Verify the receipt details to ensure the payment is correctly adjusted against the selected invoice.