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Entering A Payment
Straight Payment - when you have a singe payment for a single invoice we suggest using the QuickEntry/Income/Accounts Receivalbe to enter the payment.
Payment for multiple invoices in one deposit, payments with deductions, credits & discounts and payments from factoring companies as we as factoring hold back accounts please see the topic in Split Entry/Income From Receivables.
AVOIDING A COMMON MISTAKE -
In the past we've seen some users try to show the income for Receivables by changing the original RECEIVABLE (INVOICE) entry from RECEIVABLE to INCOME and then changing the amount of the receivable from a negative to a positive. This will create reporting errors and will remove the income from your Profit & Loss statement. You need to have an invoice (RECEIVABLE) and you need to have a second entry for the payment when it's received, so use the process shown in the topics referred to above to enter your payments when they are received. In order to prevent this mistake we have blocked editing receivables in the Income & Expense section. To edit a receivable return to the Billing page, edit the amounts there and then export(print) the invoice again. It will see the previous invoice for that Pro Number and will replace it with the new invoice.
