Recording a Receipt

Accounting can record a receipts in BindHQ by accessing the Record Receipts page

Applies to:

  • Accounting
  • Administrators
Last Updated: September 2020

This article explains how Accounting can record a receipt in BindHQ by accessing the Record Receipts page.

There are two sections to this article


Recording a Receipt

To record a receipt, Accounting must access the Record Receipt page. There are four ways to open the Record Receipt page in BindHQ:

  1. From the Quick Add Menu
  2. From a Policy's Accounting Tab
  3. From an Agency's Accounting Tab
  4. From the Accounting Tab

From the Quick Add menu

Administrators can record receipts from the Quick Add menu.

  • Use the Quick Add drop-down along the top of any page in BindHQ to select Record a new receipt.


    The Record Receipt page opens.

From a Policy’s Accounting tab

Note: This option is recommended for something like a one-off check to pay a specific policy.

  1. Navigate to a policy and select the Accounting tab.
  2. On an open receivable line item, check the Status checkbox.
  3. In the bottom right corner, click Record Receipt.

     

    The Record Receipt page opens and autofills the Customer and Amount fields. The transaction line item is also automatically selected from the list.


From an Agency’s Accounting tab

  1. Navigate to an Agency and select the Accounting tab.
  2. On the right, check the Action/Status checkbox for one or more transactions you want to record a receipt on.
  3. In the bottom right corner, click Record Receipt.

The Record Receipt page opens and autofills the Customer and Amount fields. The transaction line item is also automatically selected from the list.


From the Accounting tab

Administrators can record receipts from the Accounting tab.

  1. Select Accounting from the sidebar navigation menu.
  2. Ensure the General tab is selected along the top, then select the Accounts Receivable section.
  3. Click Record a Receipt.

    The Record Receipt page opens.

 


Filling in Receipt Details

Complete all the steps below when recording a receipt from the Quick Add menu or the Accounting tab.

When recording a receipt directly from a Policy’s or Agency’s Accounting tab, the Receipt Details tab opens automatically and the transaction is automatically selected, so Users only need to complete steps 5 and 7 below.

  1. (Required) In the Select the customer section, use the drop-down to search for and select an agency or insured.
  2. (Optional) In the Set Default Filters section, use the Select a policy drop-down to select the policy, then use the Select an insured drop-down to select the insured.
  3. (Optional) In the Date Range section, click Pick and use the calendar to select the From and To transaction dates.
  4. Click Start New Receipt.
    The Receipt Details page opens and displays any transactions that match the criteria set in steps 2-4. The Customer field is no longer editable.
  5. Fill in the receipt details:
    1. Source Account (Required): Use the drop-down to select the crediting account (where payment is coming from).
    2. Bank Account (Required): Use the drop-down to select the account payment is going to.
    3. Memo: Enter any internal notes related to the transaction (for example, the check’s memo or the invoice number).
    4. Payment Method: Use the drop-down to select ACH if payment is through a wire transfer or Web if payment is through an online payment system. This field is for internal reference and does not affect how the transaction is processed in BindHQ.
    5. Finance Co: Use the drop-down to select a finance company.
    6. Posted At: Ensure the posting date is correct, or click Pick and use the calendar to select the correct date.
    7. Amount (Required): Enter the payment amount.
    8. Reference: Enter the check number.

  6. From the transaction list at the bottom of the page, select the transaction(s) to record a receipt on by checking the checkbox to the left of the transaction(s).
    The Amount To Pay field auto-populates based on the Amount field.
  7. Click Record Receipt.

    The receipt is processed and the View Receipt page opens, showing the transaction details and summary. By default, the Applies details display along the bottom of the page. Users can select Payments, GL Impact, or Audit to view those details.