Tasks > Receive Owner Net Payments

To receive customer payments from owners who are netted, choose Receive Owner Net Payments from the Tasks menu. The Receive Payments screen will allow you to choose which outstanding invoices to apply owner payments toward.

Click the New button in the toolbar to prepare the screen to receive a new payment. Then type in the Owner's ID. Once you tab out of the owner ID field, the grid below will populate. If the owner's total suspense balance is in deficit, then it will populate the grid with the deficit amounts for each well the owner has an interest in. If the owner's overall balance is positive, this screen will not show any deficits in the grid below.

When you enter the amount received, it will automatically apply the money to the invoices or suspense balances below. If you wish to divide up the payment differently than what the system calculated, you can overtype the amount to be paid for each item.

Owner ID
The owner ID of the owner from which you're receiving the payment. The owner ID can be chosen from a list by typing it in, pressing the F2 key or by clicking on the owner ID button. Once the owner ID has been entered, all outstanding invoices for this owner will be brought into the list box at the bottom of the screen. If you chose to receive owner net payments, any outstanding suspense balances will be displayed.

Date
The date the payment is received. To default to the current date, press enter.

Amount
Enter the amount of the payment.

Check No.
Enter the check number of the check that you are receiving.

Balance
This contains the total of the customer's outstanding balance.

Applied
This displays the amount of the payment that has been applied to invoices or suspense balances.

Unapplied
This displays the amount of the payment that has not been applied to the customer's outstanding invoices or suspense balances.

Invoice#
The invoice number of the outstanding invoice.

Invoice Date
The date of the outstanding invoice.

Invoice Balance
The current balance of the outstanding invoice.

Discount Available
If there is a discount available for this invoice, the amount will display here.

Discount Taken
If there is a discount available, enter the amount of the discount you are applying.

Amount to Apply
Enter the amount of the payment that applies to this invoice. After entering, the amount will be applied to the invoice and the Applied and Unapplied amounts above will change accordingly.
When the full amount of the payment has been applied, press the Save button in the toolbar.

Credit Memos

When an amount is entered in the receive owner payments screen that is larger than the total outstanding invoices for the owner, the system will ask if you want to create a credit memo for the difference. You must first apply all that can be applied to the outstanding invoices.

A credit memo can then be applied to a new invoice in the receive owner payments screen by applying the credit as a (-) negative amount to itself and then by applying the amount of the credit to the outstanding invoice.

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