How to settle last year payment of vendor/customer?
Customer Payment
If you need to receive money from a customer for a previous payment without generating an invoice, you can follow these steps:
1) Navigate to the Accounting Module: Click on the 'Accounting' module.
2) Click on Payments under the Customer section.
3) Click on the Create button to create a new payment.
Fill in Payment Details:
Payment Type: This section likely allows you to choose between "Receive Money."
Partner Type: This section is likely where you would specify if the payment is for a "customer."
Customer/Vendor: This field lets you select the specific customer you're making the payment to.
Destination Account: This shows the account the money will be coming from or going to. In the screenshot, it shows "100010 Trade Receivable Account."
Internal Transfer checkbox: In Metro ERP indicates if a payment is moving funds within your organization, not involving external parties. If you're paying a customer without an invoice, you typically wouldn't use this checkbox. It's for internal transactions, not payments to external parties.
Payment Method: This section might allow you to specify the payment method, such as "Bank Transfer" or "Check."
Date: Ensure you select the date for the payment accurately. This will reflect on your financial records.
Total Amount: This section displays the total amount of the payment. The screenshot shows "Zero Dollars."
Save Payment: Once you've entered all the necessary details, save the payment entry.
Verify and Confirm: Review the payment entry to ensure all information is correct. Once you're satisfied, confirm the payment.
Reconciliation: After confirming the payment, you may need to reconcile it with your bank statement if it involves a bank transaction.
This process will record the payment in your accounting system without the need to generate an invoice. Make sure to keep proper records and documentation for the transaction.
4) Journal Entries
Click on Journal Entries under the Accounting Menu from the Accounting Module.