Payments

The Payments tab is used to record any money paid from the business's bank and cash accounts. This feature helps in tracking all outgoing funds, ensuring accurate and up-to-date financial records.

Recording a New Payment

To record a new payment:

1. Navigate to the Payments tab.
2. Click the New Payment button.

For detailed instructions on how to fill out the payment form, see Payment Edit.

Alternative Method: Importing Bank Statements

You are not required to create new payments manually by clicking the New Payment button. Importing bank statements is the most efficient method because it creates new payments and receipts in bulk. This saves time and reduces the potential for data entry errors. For more information, see Import Bank Statement.

Payments Tab Columns

The Payments tab features multiple columns that provide detailed information about each payment:

• Date (GetDate): The date on which the payment was made.
• Cleared (GetCleared): The date the payment cleared (appeared on the bank statement). If the payment hasn't cleared yet, this column will remain empty.
• Reference (GetReference): The payment reference number.
• Paid From (GetPaidFrom): The name of the bank or cash account from which this payment was made.
• Description (GetDescription): An explanation of the payment.
• Payee (GetPayee): The name of the customer, supplier, or other recipient of the payment.
• Accounts (GetAccounts): The name of the account or accounts assigned to categorize this payment.
• Project (GetProject): The name(s) of the project(s) associated with this payment.
• Amount (GetAmount): Displays the total payment amount.

Customizing the Payments Tab View

You can customize which columns are displayed in the Payments tab to suit your preferences:

1. Click on the Edit Columns button.
2. Select or deselect columns as needed.

For more details on customizing your view, see Edit Columns.

Understanding Payments and Payments Lines

The Payments screen shows a summary list of payments. However, the categorization of payments may be spread across multiple lines within each payment entry. If you need to view detailed information specified at the payment line level, the Payments Lines screen provides a comprehensive list of all lines from all payments.

This view is particularly helpful when:

• Reviewing specific account allocations.
• Checking the details of transactions that involve multiple accounts or projects.
• Performing audits of payment entries.

For more information on how to use the Payments Lines screen, see Payments Lines.

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By effectively using the Payments tab and its features, you can maintain accurate financial records and gain better insights into your business's cash outflows.