In Crelate, we allow users to record payments made on invoices. It is important to know, that we do not process payments and are not an accounting system, so any payments you recognize will in addition to the inputs that you will make in that accounting system.
In order to utilize the aging and reconciliation reports, you must enter payment information into Crelate.
You can enter payments 2 different ways in Crelate. The first way is to enter from the payments grid, and the second way, is to enter the payment from the invoice itself.
To enter payments from the grid, select the 'Recognize Payments' button in the menu bar.
From here, you will get a dialog that will allow you to search invoices to record payments for. You can search by invoice number, company, status, start date and end date.
Once you find the invoice(s) that you want to pay, you can apply payment to them. To automate this process, we added a Pay in Full to apply the entire outstanding balance, or you can choose Apply Payments which will allow you to enter a custom amount. Make sure you select the invoice first (step 1) to then unlock the ability to recognize a payment.
You must choose a payment method, Received on date, and payment amount for each payment. The External Payment Id is optional, but can be used for check numbers or ACH numbers if you have them.
Once your payments look accurate, select review, and then save. Those payments have now been recorded and will update your aging and ledger reporting!
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