Sage Intacct Tips & Tricks: Organizing Your Cash Receipts

Each new year, it's crucial for businesses across various industries to re-evaluate their financial strategies, particularly when it comes to streamlining the accounts receivable process. It’s not uncommon for companies like utility providers, franchises, and multifaceted construction contractors to receive a single payment covering many invoices for multiple customers (often called national accounts). You might even have situations where you receive payment on your customers’ accounts from an unrelated or third-party entity that is not your customer.

With a few simple steps, you can configure Sage Intacct to manage single payments for multiple customers. This valuable feature saves time and money for all kinds of businesses because they no longer need to enter multiple transactions, customer by customer when processing a single cash receipt. Sage Intacct offers the ease of applying one lump sum payment to several invoices across a range of customers, all within a single transaction. This simplifies internal processes, enhances customer satisfaction, and ultimately leads to a healthier cash flow.

3 Simple Steps to Manage Single Payments for Multiple Customers

#1 Create a Document Sequence for Payment

Navigate to Company > Setup > Document sequences > Add. Complete the required document sequence information. In the example below, I have entered the following:

• Sequence Name = Payments
• Sequence status = Active
• Next primary sequence = 2

#2 Apply Document Sequence for Payments to Accounts Receivable

Navigate to Accounts Receivable > Setup > Configuration> Document sequencing. Toggle the “Payments” drop-down and select the document sequence created in the previous step.

#3 Enable Single Payments for Multiple Customers

Navigate to Accounts Receivable > Setup > Configuration > Enable functionality. Check the “Enable single payments for multiple customers” box.

Once the setup is complete, users now have the option to receive a payment for the following:

• One customer’s invoices
• Parent and child customer invoices
• Multiple customers’ invoices

Receive Payment Screen—BEFORE:

Receive Payments Screen—AFTER:

The Apply payment to option you choose determines the invoices you can select for payment. For example, when you select parent and child customer invoices, payment is restricted to the defined customer hierarchy for invoices.

• When you select One customer's invoices, choose the customer as usual.
• When you select Parent and child customer invoices, choose a customer. The payer name auto-populates with the parent customer's name for the selected customer.
• When you select Multiple customers' invoices, enter the payer name for the payment. You can apply the payment to any open invoices.
  
  

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