Add a Receivable

Receivables are income items that you expect to receive from an income source for a service or job completed. Receivables can also include income received on a regular basis, such as interest income. A receivable is the transaction you record when you anticipate receiving money.

In the Receivables window, you can add a batch of one or more receivables.

  1. On the Transactions tab, click Income > Receivables.
  2. At the top, click Add Batch.
  3. Enter information in the fields.
    • Batch Date—By default, the date is set to the current fiscal month. You can change the batch date to any month that hasn't been closed.
    • Recv. Amount—If you use accrual basis accounting, select the receivables account that this batch of receivables is entered for. This field doesn't display if you use cash basis accounting.
    • Reference—This number is filled in automatically using the current batch number followed by the number of this receivable within the batch.
    • Date—When the receivable was created. By default, this is the date closest to the current date that's within the batch month.
    • Source—Enter the income source name. Click the ellipses button to view the Income Sources window.
    • Amount—Enter the amount you expect to receive from the income source. If this is a recurring receivable, enter the recurring amount.
    • Add Documents—Upload additional documents that support the receivable. For more information, see Add Documents.
  4. In the grid, enter how to distribute this receivable. If the income source or any account numbers have an automatic distribution set up, you can use the distribution.
    Note: The receivable cannot be saved until the amount remaining is $0.00.
  5. Click Save to enter the current receivable, or click Add Receivable to save the current one and begin adding another.