Method:CRM's Payment App is used to log a payment, which saves a record of the received payment and updates invoices in Method:CRM and QuickBooks.
The app can also process payments made via payment gateways (e.g. credit card payments). The following sections will show you how to do both.
Note: Processing a payment requires you to log it as well.
Log a Payment
When you receive a payment from a customer, three things should happen:
- The payment should be logged as a record in Method:CRM
- The payment should be applied to the customer's balance based on their invoice(s)
- The customer balance should be updated in QuickBooks
The following steps will show you how to accomplish all three of these goals.
1. From your Method:CRM dashboard, click ⊕ New on your Payments App, or click ⊕ New Payment from your Payment List screen.
2. This opens your New/Edit Payment screen. Choose the customer from whom you're receiving the payment.
3. Let's take a look at the first two columns of fields:
- Amount: By default, this is pre-filled with the customer's total outstanding balance but can be changed. Note: You cannot associate a payment with a customer carrying a negative balance.
- Payment Method: Select a method of payment from the dropdown. Further down on the page, you can process the payment as well.
- Date: shows today's date by default, but can be changed. You can set a future date, but make sure you check “Waiting for sync approval” so QuickBooks doesn’t update the customer's invoices.
- Currency: For multi-currency accounts, you can select the currency the payment is in.
- Assigned To: Assign the payment to a Method:CRM User.
- Reference Number: If no reference number is entered, Method:CRM will assign one sequentially (if the last payment was 15, this will be 16).
- Memo: Internal note to you or another Method:CRM user.
- Attachments: Allows you to attach a file to this payment. This file is only accessible from this payment screen.
4. The following fields can be found in the next two columns of the Payments screen:
- Accounts Receivable: The accounts showing in this dropdown are populated by QuickBooks, but does not appear for QuickBooks Online users.
- Deposit To Account: The account where money is initially deposited. The accounts showing in the dropdown are populated by QuickBooks.
- Waiting for sync approval: Postpone the Method:CRM sync. Your payment is accepted, but invoices are not updated in your QuickBooks account until this is unchecked.
- Tags: Assign tags to this invoice.
5. Next up is applying the payments. If Auto Apply Payments, is checked:
- If the payment exactly matches the balance of an existing invoice, Method:CRM applies the payment to that invoice (even if it isn’t the oldest invoice by date.)
- If the payment does not match a specific balance, it is applied to the oldest outstanding invoice for this customer.
- If the payment pays off an invoice with extra left over, the extra is applied to the next-oldest invoice.
- If the payment does not pay off the entire invoice, the payment is deducted from the customer's balance.
6. If you uncheck Auto Apply Payments, you are prompted to choose an invoice (or invoices) to apply this payment to.
7. Click ⊕ Select Invoices to Pay. This will bring you to a new screen.
8. Select one or more outstanding invoices from the list by checking the checkbox.
9. Click Add Selected Invoices.
10. You are returned to the New/Edit Payment screen, and now the invoice list is populated with the invoices you selected.
11. If you select an invoice in the grid, you can Adjust the Payment. This brings you to a new screen so you can alter the amount to pay.
12. If you want to process the payment at the same time it's logged, check Process with Payment Gateway when saving. This will bring up a pop-up to let you enter in a credit card, if you have a payment gateway set up. If they have their credit card saved via the Payment Gateway, you can use the information to charge their card again.
Please see our article Connect Payment Gateways for more information.
Note: Leaving this option unchecked means Method:CRM assumes the payment has already been received.
15. Click Save to save the payment.
Your payment is now visible in the Payments List. Any payment processed is subtracted from the customer’s outstanding balance in QuickBooks during the next sync, and their balance in Method:CRM is also updated.