III Customers & Receivables

Session III covers your core business -- managing your customers. Performance goals include:

• recording payments received for goods or services rendered 
• matching payments received to existing invoices
• creating invoices
• issuing a credit or refund to a customer
• generating periodic statements
• passing expenses on to customers

Most client management functions can be found in your Customer Center (Customers > Customer Center, ctrl-J, or click the Customer button)

Getting to Customer Options

Customer Options

• Receiving payments for goods or services: the quick and dirty method -- used for quick sales that aren't invoiced with a payment date sometime in the future
• From the Customers Menu > Enter Sales Receipts
• From the Customer Center > New Transactions Menu > Enter Sales Receipts
• For businesses where sales consist of many, relatively small transactions, you can batch a day's (or shift's) transactions into one, leaving out customer names
• Entering time worked and allocating to a customer: use to track time you or an employee work on a particular client
• From the Employees/Customers menus > Enter Time
• From the Employee Center > Enter time > 
• Choice of a single entry or weekly timesheet
• Invoicing:  compiles customer charges into billing form, with a specific date due
• Ctrl-I
•  from the Customers menu  > Create Invoices
• from the Customer Center > New Transaction > Create Invoices
• Credit Memos/Refunds:  
• Customers > Create Credit Memos/Refunds
• Statement charges & Statements:  for items tallied & billed via periodic statement rather than invoicing. Up side - the program compiles all charges into a statement. Down side: can't pass through expenses via statement charges.


• Customers > Enter Statement Charges
• Customers > Create Statements
• You cannot save a statement the way you can an invoice, so you'll print or email it. 
• Match payments to invoice or statement:  Customers > Receive Payments
• Batching sales -- transferring a period's (shift, day, etc) information all at once:  depending on how you set things up, you can use journal entries, deposits, or a receipt and deposits. We'll look at a few options during the session.

Looking at the performance of your business:

Profit/Loss

reporting by class shows how different elements of your business are performing

Balance Sheet

the status of your business at a particular point in time