Sage Timeslips Accounts Receivable invoice software allows for easy entry of bill payments and other transactions such as write-offs, credits, refunds, and funds transfers. Choose from many of the available A/R reports included with the invoicing software and link with popular accounting packages, including Sage 50. Define your own aging periods, allocate payments to timekeepers, set up discount rules for early payments, and more.
- Payment receipts: When a payment to an outstanding invoice is applied, you now have the option of either emailing a payment receipt to your client or printing the receipt.
- For Sage Timeslips Software Support 800.766.6770
- The options include payments, credits, write-offs, refund, invoice, reverse payment, transfer, transfer to funds, discount, special credit, increase invoice details, and decreased invoice details for details see below
Entering payment transactions
When you receive money from a client to pay existing charges, you enter a payment transaction. This type of transaction reduces a client’s accounts receivable balance.
Entering credit transactions
If you want to reduce the client’s balance even though a client has not submitted payment, you can issue a credit transaction. This type of transaction adjusts billed balances.
Entering write-off transactions
If you want to reduce some or all charges associated with an invoice, you can enter a write-off transaction. This type of transaction adjusts billed balances. You must apply a write-off to an invoice.
Entering refund transactions
If you need to give back money to a client (for example, if the client overpaid a balance), you can enter a refund transaction. This type of transaction will increase the client’s balance due.
Entering invoice transactions
If you need to establish a starting balance for a client or account for an amount not billed through Timeslips, you can enter an invoice transaction. This type of transaction will increase the client’s balance due. Timeslips generates invoice transactions automatically when you approve bills.
Entering reverse payment transactions
If you need to send payment back to a client (for example, if the client’s check bounced), you can enter a reverse payment transaction. This type of transaction will increase the client’s balance due. You must apply a reverse payment to an existing payment. You can also associate a service charge with this transaction.
Entering discount transactions
If you need to reduce the client’s balance (for example, if you offer discounts for early payment), you can enter a discount transaction. This type of transaction will decrease the client’s balance due by a specific amount or by a percentage of the balance.
Entering transfer transactions
If you need to transfer money from payment or credit to another project, you can enter a transfer transaction. This type of transaction moves money from one project and applies it to invoices associated with another project.
Transferring Money to Other Projects
Entering transfer to funds transactions
If you need to transfer money from payment or credit to a client funds account, you can enter a transfer to funds transaction. This type of transaction moves money from one project and applies it to a funds account for the current project or a funds account associated with another project.
Entering special credit transactions
If you need to take money that you have already applied to an invoice and apply it to a different invoice, you can enter a special credit transaction. This type of transaction is used to credit an existing invoice and redirect that money to pay another invoice for that client.
Entering increased invoice details transactions
If you need to increase the amount billed on an invoice, you can enter an increase invoice details transaction. This type of transaction can increase the number of fees, costs, tax, or interest associated with a specific invoice.
Entering decreased invoice details transactions
If you need to decrease the amount billed on an invoice, you can enter a decrease invoice details transaction. This type of transaction can decrease the number of fees, costs, tax, or interest associated with a specific invoice.