Payment Screen When Viewing an Electronic Payment

Electronic payments that have been submitted to pay customer invoices can be reversed from the Payment screen using the Void or Refund options^a  available from the Actions menu. These options are only available for electronic payments.

Void and refund actions are differentiated from one another as follows.

• Void – This option stops the existing transaction.  It is only available if have the Void Electronic Payments permission. The option is only available on the menu until 3 pm on the day of the original transaction. If the original transaction was after 3 pm, the option is available until 11:59 pm. The payment processing company does not charge a fee to void a payment.
• Refund – This option credits the customer account for a payment that has already been processed by the payment processing company. It is only available if you have the Refund Electronic Payments permission. This option is available for payment for six months after the original payment was submitted.  After that, the option will no longer be available on the menu.   The payment processing company charges a fee to refund a payment.

Making a Payment

The Payment screen can be used to record a payment. The payment may be applied in full or in part to invoices associated with the selected company or contact, or to the invoice specified.

We will demonstrate this by an example.  We can initiate the creation of the payment by choosing the New Payment option^a in the Aspire Tool Bar. In the Select Payment Account window, we choose Grants Farm as the company^b, and click the Save icon^c to display the Payment screen^d.

You click the checkbox in front of the invoice to which you want to apply the payment^e.  When you click the invoice checkbox, Aspire will fill the dollar amount ($39,000.00)^f into the payment amount field assuming that you plan to pay the full amount of the selected invoice.  You can accept this amount, or if the payment is for a different amount, you can adjust it accordingly. If the payment amount submitted by the customer is more than the invoice, you can apply the excess to other invoices by entering the appropriate dollar amount for each invoice line. If the payment is greater than the sum of all invoices or you choose not to apply the total amount to existing invoices, the Credit(s) field^g will reflect a positive value, and when you save, the account will be left with an unapplied credit that can later be applied to an invoice when there is one. 

You can fill in the reference number which, for check payments, is commonly the check number.  

Click the Save icon^h to save the payment.

Applying a Credit to an Invoice

The Payment screen can be used to apply for a credit on account to a specific invoice. Once the credit has been applied, both the credit and the amount paid will be removed from aging balances.

We will demonstrate this by an example.  To provide context, the following Receivables Search List screen shows that property St. Louis Science Center has a $1,000 credit on account. We wish to apply this credit to an invoice that has an outstanding balance of $80,000^b.

We can initiate this by choosing the New Payment option^a in the Aspire Tool Bar. In the Select Payment Account window, we choose the St. Louis Science Center as the company^b, and click the Save icon^c. 

You click the checkbox in front of the credit^d, and then the checkbox in front of the invoice to which you want to apply the credit^e.   When you click the invoice checkbox, Aspire will fill the dollar amount ($40,000)^f into the payment amount field assuming that you plan to make a payment.  Since we are not applying for a payment – only a credit – change the value of $40,000 back to $0. Set the payment amount on the credit line^g to $1,000 to show that you want to apply the whole amount^[24], and set the payment amount on the invoice line^h to $1,000 to show that is where the dollars should be applied. Click the Save iconⁱ.

If you go to the Receivables Search List screen, you will see that the Credit on Account value of $1,000 is gone^a, and the balance in the 1-30 day aging bucket has been reduced from $80,000 to $79,000^b.

[24] Aspire allows partial allocation.