Set up payment registration
The Payment Registration window is designed to support you in tasks involved in balancing internal accounts by using actual cash figures to make sure that payments are collected efficiently from customers. This payment processing tool enables you to quickly verify and post individual or lump payments, process discounted payments, and find specific unpaid documents for which payment is made.
Because you can post different payment types to different balancing accounts, you must select a balancing account in the Payment Registration Setup page before you start processing customer payments. If you always post to the same balancing account, you can set that account as the default and avoid this step every time that you open the Payment Registration window.
To set up payment registration, follow these steps:
Select the Search for Page icon in the top-right corner of the page, enter payment registration setup, and select the related link.
Alternatively, in the Payment Registration window, select the Setup action.
In the Journal Template Name and the Journal Batch Name fields, enter the name of the journal template and journal batch that the Payment Registration window is based on.
In the Balancing Account Type field, you can specify if the balancing entries should be posted to a bank account or a G/L account. The field is defaulted by the selected journal batch, but you can always select another option.
In the Balancing Account field, select the bank account or G/L account that is used as the balancing account for payments.
The Use this Account as Default field specifies if the account in the **Bal. Account No.**field is used for all payments. This means that you use more than one account when registering payments.
The Automatically Fill Date Received field specifies if the Date Received and the Amount Received fields are automatically filled when you select the Payment Made option.