Customer payments can be entered in the accounting system (MYOB AccountRight Live, Xero, QuickBooks Online, MoneyWorks) or Ostendo. For MYOB Classic and Reckon Accounts customer payments are only entered in Ostendo.
Customer Payments Entered in Accounting System
These are the general ledger transactions for Customer Payments entered in MYOB AccountRight Live, Xero, QuickBooks Online or MoneyWorks.
- The sales invoice in Ostendo is updated with the paid amount applied to the invoice in the accounting system.
- Customer deposits are entered in Ostendo and post to the accounting programme.
Transaction | Debit | Credit |
Customer Deposit | ||
Customer Deposit Paid | Bank (Asset) | Customer Deposits Unapplied (Liability) |
Sales Invoice | ||
Invoice Income | Debtors (Asset) | Sales (Income) |
Customer Deposit Applied | Customer Deposits Unapplied (Liability) | Debtors (Asset) |
Customer Payment | ||
Customer Payment | Bank (Asset) | Debtors (Asset) |
Overpayments
Overpayments for payments entered in MYOB AccountRight Live, Xero, QuickBooks Online or MoneyWorks cannot be processed the way these systems normally handle overpayments as this does not update Ostendo correctly. Debtors in Ostendo and the accounting system will not align. The overpayment amount can be applied to a future invoice or can be paid back. Contact us for a process for handling overpayments.
Credit Notes
Credit notes must be applied to invoices in Ostendo as well as in MYOB AccountRight Live, Xero, QuickBooks Online or MoneyWorks, as these do not post from one system to the other.
Customer Payments Entered in Ostendo
These are the general ledger transactions posted by Ostendo for Customer Payments entered in Ostendo.
- Any customer payment entered in Ostendo is posted as soon as it is saved, even if it is not applied to any invoice.
- Customer deposits are entered in Ostendo and post to the accounting programme.
Transaction | Debit | Credit |
Customer Deposit | ||
Customer Deposit Paid | Bank (Asset) | Customer Deposits Unapplied (Liability) |
Sales Invoice | ||
Invoice Income | Debtors (Asset) | Sales (Income) |
Customer Deposit Applied | Customer Deposits Unapplied (Liability) | Debtors (Asset) |
Customer Payment (Direct) | ||
Customer Payment Saved | Bank (Asset) | Unapplied Payments (Asset) |
Applied to Invoices | Unapplied Payments (Asset) | Debtors (Asset) |
Customer Payment (Bank Deposit) | ||
Customer Payment Saved | Undeposited Funds (Asset) | Unapplied Payments (Asset) |
Applied to Invoices | Unapplied Payments (Asset) | Debtors (Asset) |
Bank Deposit | Bank (Asset) | Undeposited Funds (Asset) |
Payment Charges | ||
Payment Charge | Unapplied Payments (Asset) | Payment Rounding (Income) |
Payment Charge | Payment Rounding (Income) | Payment Charges (Expenses) |
Payment Rounding | ||
Round Payment Down | Payment Rounding (Income) | Unapplied Payments (Asset) |
Round Payment Up | Unapplied Payments (Asset) | Payment Rounding (Income) |
Do not use Early Payment Discount in Ostendo
The Early Payment Discount function in Ostendo customer payments cannot be used when posting to MYOB AccountRight Live, Xero, QuickBooks Online or MoneyWorks as these systems do not handle this the same way that Ostendo can. Debtors in the accounting system will not update correctly and Debtors in Ostendo and the accounting system will not align. Contact us for a process for applying a rebate or discount to a customer payments.
Overpayments
Overpayments can be processed in Ostendo as a payment that is partially applied. The overpayment amount can be applied to a future invoice or can be paid back. Contact us for a process for handling overpayments.
Credit Notes
Credit notes must be applied to invoices in Ostendo as well as in MYOB AccountRight Live, Xero, QuickBooks Online or MoneyWorks, as these do not post from one system to the other.
Payment Charges
Payment charges are charges such as credit card fees that are charged in addition to the invoice amount.
Payment Rounding
Payment rounding is for when the amount paid does not equal the invoice amount and is intended for minor differences. Please note that Payment Rounding does not change the GST Collected value.
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