Creating Bank Receipt
When receiving payment, user can create Bank Receipts to track the transaction. Go to Banking > Bank Receipt, click New.
Select the date (which should match the bank statement date), select the Bank (in this case, a RMB Bank with System Default Currency as HKD in this case) and enter the received Total Amount. If the payment is from a customer, select the customer from the Card field.
AutoMi has one of the most flexible banking function in the market, you can apply receipt to invoices, deductions, incomes and expenses in one screen.
After selected the Customer, click the Apply Invoice button to apply the Receipt to invoices
A pop up window will be shown displaying all the outstanding invoices from the customer, select the lines to be applied to this Receipt. In this case select a HKD invoice and a USD invoice to apply.
- Notice invoices of different Currencis are displayed for select, you can select any invoices of any currency, independent of the currency of the receiving Bank
If there is adjustment of apply amount needed for the invoice, for example, customer round-off the amount and not paying the round-off amount, user can enter the adjustment amount. In this case, the customer is not paying the $30 of the $1,030 but user need to offset that amount as paid.
- The Applied Amount Original Currency (actually received) is set as $1,000, as customer did not pay the last $30
- Adjustment Type selected Bad Debt, user can select any other adjustment type of Expense, Other Expense or Cost, the Deduction Amount set as $30
- The Total Offset is automatically updated as the full amount $ 1,030, the invoice status will be updated as Paid afterward
- User can add Description to remark the adjustment or other information
Similarly to apply any outstanding Deductions, click the Apply Deduction
Select the deductions to apply, click OK.
The invoices and deduction, disregard of their currency, will be exchanged to the Bank Currency using the transaction's Exchange Rate. User can review the breakdown of amount of the Receipt
If there are other Income or Expense, user can add as Income Lines or Expense Lines. For example, the customer pay extra bonus of $50 RMB to us. Click Income Lines and add a new line as follow:
- Select Discount Rebate Taken as Adjustment Type, or other type as needed
There is also a bank charges of $25 deducted by the bank that is paid by us. Click Expense Lines and add the line as follow:
Review the breakdown of the Receipt (in RMB bank currency)
As there is still a Difference with your bank statement amount, the difference will be the exchange rate gain or loss as we are exchanging the various currencies amount to RMB. User can add that by using an income or expense line, this our case:
The Difference is now balanced, click Save.
Breakdown of a Receipt
To conclude we could breakdown the Receipt Amount into:
- Invoices: increase the Receipt Amount
- Deductions: decrease the Receipt Amount
- Income Lines: increase the Receipt Amount
- Expense Lines: decrease the Receipt Amount
2 customer invoices were paid in full, the system will colour-coded them as GREEN in the Sales Invoice ListView
Similarly the Deduction was settled in full and colour-coded as GREEN
Go to Banking > Bank Register Line, a new deposite line was added