About electronic receipts

If you have a merchant account with Sage Payment Solutions, you can use the 3‑3‑2 Electronic Receipts window to enter credit card and ACH payments electronically for your clients.

Note: Before you can process electronic receipts, you must enter your Sage Payment Solutions merchant ID and merchant key, as well as the general ledger account associated with your merchant account, on the Electronic Receipts Setup tab in the 7-2 Company Information window. (For more information, see About Sage Payment Solutions

Processing electronic receipts is very similar to processing cash receipts using the 3-3-1 Cash Receipts window, with a few notable differences:

• You process an electronic receipt for one client at a time. Therefore:

  • You need to enter only the Client number in the transaction header.
  • You display invoices for the selected client in the grid.

• If you use the company option to store client information in the Sage Exchange Vault:

  • You can select Save payment information to save payment information that you enter for a transaction and client securely in the Sage Exchange Vault.

  • If you processed a payment for the client previously, you can choose to use the same payment method as before.

    If you also saved the client's payment information in the vault:

    • If the last payment method was a credit card, the option Use last credit card is displayed instead of Use last payment method. If you select this option, when you click Process and Post, the credit card details stored in the vault for this customer appear on the Sage Exchange integration screen. You can change the credit card information on the Sage Exchange screen.
    • If the last payment method was ACH, the option Use last bank account appears instead. If you select this option, when you click Process and Post, the banking information stored in the vault for this customer appear on the Sage Exchange integration screen. You can change the banking information on the Sage Exchange screen.

    Caution! If you do not want to use the same payment method used previously for the customer, you must clear the Use last credit card or Use last bank account option before you submit the payment to Sage Payment Solutions. If one of these options is selected when you click Process and Post, you will not be able to change the payment method in Sage Exchange.

• Rather than clicking Save to store receipt transactions, you use the following icons or Options menu items:
  • You click Process and Post to process a receipt electronically through Sage Payment Solutions, where it will be deposited to your bank account, and post the transaction to your Sage 100 Contractor General Ledger.

  • You click Post to post a transaction to your Sage 100 Contractor general ledger that you entered directly through the Sage Virtual Terminal or using another payment processing service.

Applying receipts

To process receipts, you display client invoices the 3‑3‑2 Electronic Receipts window, select the invoice being paid, and then enter the amount of the payment and any applicable discount or overpayment. If the payment includes a credit invoice, you enter a negative amount for that invoice.

If a client pays more than the net amount of an invoice but less than the invoice balance, Sage 100 Contractor applies the payment to the retention. For example, suppose you created an invoice for $1000 minus 10% retention, resulting in a net total of $900. The client, however, sends a $950 payment. After entering the payment in cash receipts, the total balance due is $50 and the Retention column shows a balance of $50. It is important to note that this is not a substitute for releasing retention.

Entering overpayments

When a client pays more than the total balance of an invoice, you can enter the additional money as an overpayment. The total amount of the Paid and Discount cells must equal the amount in the Balance cell before Sage 100 Contractor allows you to enter the overpayment. When you save the cash receipts, Sage 100 Contractor reduces the job balance by the amount of the overpayment. In addition, the invoice now carries a negative balance and acts as a credit invoice.

Suppose a client informs you that he is going on vacation for a few weeks. The client wants to make sure you have enough money to continue building while he is gone, so instead of paying the $5,000 he was billed, he pays $10,000. For the invoice, enter $5,000 in the Paid cell and $5,000 in the Overpayment cell. After saving transactions, the invoice now carries a –$5,000 balance. The next time you invoice the client, you can apply the credit.

Applying discounts

Sometimes clients receive a discount for early payment. Sage 100 Contractor automatically determines whether a discount is available based on the due date you indicated on the invoice. When a discount is available, it is shown in the Discount Available text box. If a discount is not available, you can still apply a discount to an invoice.