Overview:

Past Receive Payments in N3 AI Accounting are used to record collections from customers prior to the cut-off date. When the Document Date is before the cut-off, the system classifies the transaction as a Past Receive Payment, helping ensure AR balances in the customer ledger and GL Opening Balance reflect the intended accounting period.

This feature is intended for accounting staff managing collections.

Scenario:

Your company needs to record payments received from customers as of the cut-off date. By entering each payment with a Document Date before the cut-off, the system automatically classifies it as a Past Receive Payment. Matching the payment to invoices ensures AR balances are accurately reduced, reflecting closed or partially paid invoices, and maintaining correct GL opening balances.

Prerequisites:

• Customer master data must exist.

• Accounting period for the cut-off date must be defined.

Procedure:

1. Navigate to Account Receivable > Receive Payment.

2. Enter the Document Date first.

3. Complete the remaining fields in order: OR No., Customer details, Reference No., Description, Amount Balance, VAT Code.

4. Go to the Knock Tab and select the invoices or debit notes that this payment applies to.

   • This will update the AR balance, either closing the matched documents’ balance or reducing their current balance.

5. Click Save to record the transaction.

6. Verify the payment and updated AR balances appear in the AR ledger or relevant transaction report.

Note: Lumpsum payments per customer can be recorded, but allocating per-invoice in the Knock Tab is recommended for better tracking, reporting, and reconciliation.

Application (Use Cases)

Past Receive Payments are used to:

• Record payments received as of the cut-off date.

• Reduce AR balances in the customer ledger.

• Ensure AR balance reflects matched invoices or debit notes.

• Maintain correct GL Opening Balance.

• Support detailed tracking and reconciliation at the invoice level.

• Facilitate audit trails by maintaining per-invoice entries. 

System Scope: QNE AI Cloud Accounting / N3 AI Accounting