Receipt: A written acknowledgement or proof of payment from your customer is a Receipt. It can be a receipt for rent paid by the tenant, deposit paid by the tenant.
Invoice: A document issued by you to your customer to collect payments is called an Invoice.It can be an invoice for the tenant to pay the rent or maintenance charges.
Here are the steps on how to create a Receipt and tag it to an Invoice:
You can approach this problem in two ways:
Registering the receipt from the invoice created
Tagging the invoice to the receipt newly created
In order to tag a receipt to an invoice, there must be an invoice created for the same.
Click here to learn how to create an invoice.
Registering the receipt from the invoice created
Go to Core > Accounts > Invoice
Select the invoice which you want to tag to a receipt
Select “Register Receipt”
In order to register the invoice to the receipt, you should fill in the mandatory fields with the required details:
Payment Method
Chart of Account
Paid Date
Transaction No.
Once you select “Submit”, your invoice will be tagged to a receipt and the payment will be recorded
To verify if your invoice is tagged to a receipt and the payment is recorded, go to Core > Accounts > Invoice and check if the status has changed next to the invoice selected
Tagging the invoice to the receipt newly created
Go to Core > Accounts > Receipt
In this method, you have to create a receipt and tag it with an existing invoice. To create a new receipt, select “Create” and choose “Receipt”
You need to enter the details of the User who the receipt is being created for.
Name
Property
Amount paid
Paid Date
Payment method
Payment Gateway (if there are any)
Receipt No.
Chart of Account
Payment Transaction No.
Scroll down to find “Allocate Amount”. You can choose the invoice the payment has been made for.
Multiple invoices can also be paid by the tenant at the same time. You can choose more than one invoice to be tagged to the receipt
After allocating the amount, you can either “Save” or “Save and Send”. To save and email an invoice, use the "Save and Send" option.
Once you are done with the previous step, the details of the payment made reflects on the receipt
You can verify the status of the invoice which is updated automatically
By following these steps, you can easily create and tag receipts to invoices, ensuring smooth and accurate record-keeping.
For any further assistance please feel free to reach out to us at support@monktechlabs.com
Related Articles:
How to create Bills & Expenses?
How to register a Partial receipt?
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