MotilityAnywhere’s Accounting module includes multiple features for accounts receivable including AR Write-offs, Auto Pay and Receiving Payment(s) on Account. This will ensure that your Accounting department can keep track of all receivables into the system so that, in tandem with accounts payable, you can reconcile your bank statement monthly to keep accurate finances.
Receive a Payment on an Outstanding Balance
- Open the accounting module.
- Choose the New Receive Pay on Accounts option from the menu on the left side of the window. This screen is very similar to the Print Checks (Write Checks/Drafts) screen, except instead of seeing payables your dealership owes you are seeing a customer's amount owed to your dealership in the form of a receivable.
- Click the Add Entity button on the right. This will open an entity search screen. Make sure the Search By field is set to use the correct criteria; otherwise the entity you are searching for may not be displayed in the search results. Once you’ve selected an entity their information will be displayed in the entity section.
- Fill out the Reference Number, Journal, Pay Type, and GL Account information at the top. The Pay Type should correspond with the medium of payment, the amount to the total amount paid on this transaction and the GL account is where payment is being applied.
- You can click the “Pay” button on the row to pay the amount in full. If a partial payment is being made, type that amount in the Pay Amount field.
Once the Pay Amount is filled in or the Pay button is clicked, the transactions lines will be created below as a balancing transaction, debiting the AR account selected and crediting the payment to the GL account where it is owed.
Note that the functionality of the ellipsis, “v”, “J” and “$” buttons remains the same as in the Print Checks (Write Check/Drafts) article listed previously.
- When you are finished, press the Save button and Print, then move onto the next entity if you wish to receive additional payments.
Receive Multiple Payments
If you are receiving multiple payments from different entities, it may be easier to use the “Multiple Entries” feature rather than creating each receivable payment individually.
- Open the accounting module.
- Choose the New Receive Pay on Accounts option from the menu on the left side of the window.
- Select the “Multiple Entries” button at the bottom of the window. This will open the multiple payments window.
- Enter a reference # to identify the transaction, a transaction date, posting month, and a GL clearing account for the payments to be received into.
Add all of the entities whose payments are being received.
- Select the corresponding balances owed in the Entity Reference field.
- Fill in the payment amount.
- Add the GL account (the AR account that will be credited for these payments).
- Enter a comment if necessary.
- The total amount of the payments made will be displayed on the bottom of the window in a blue field. When you are finished, hit “Process & Save” to finalize the payment entry.