Receipts

When receiving a payment (in cash, check, credit card or bank transfer), a receipt must be issued as soon as the payment is received.

In the Marketing & Purchase Documents> Receipts menu, you can select one of the following receipt documents:

Receipt: for payment in local currency.

Foreign Currency Receipt: for payment in foreign currency.

Payment can be made by any form of payment: cash, check, credit card or direct bank transfer. The numbering of this document is unchangeable.

 

The Top Part Of The Receipt

Receipt Date: The receipt date (the receipt’s issue date) is the same as the system date (computer date). Original receipts must not be issued for earlier dates.

Use the above screen to record new receipts and page through previous receipts. To record a new receipt, select the New icon. To page through previous receipts, select the Paging Through button.

Note: According to book management directives, a printed receipt must be issued as soon as payment is received (that is, before any other document is issued). Therefore, receipts containing payment details should not be stored in the temporary file.
A receipt may be saved in the temporary file if it only includes the account details, and does not yet include payment details. These directives apply to all forms of payment: cash, checks and credit cards.

Customer ID: The Account Key of the customer (or of another Account Card) from which the payment was received.

Customer Name / Address: In these records, WizCount displays customer details (name, address, phone).

This data can be corrected.

In a Foreign Currency Receipt, the receipt currency and exchange rate must be selected.

 

The Center Part Of The Receipt

This section is used to record the received payments. Payments in cash, checks, credit cards and direct bank transfers can all be combined in the same receipt.

Cash

Checks

Credit Card

Direct Bank Transfer

Closing

Withholding Tax

Cash 

To receive a cash payment, go to the Cash tab.

Total Cash: The amount the customer pays in cash.

Cash received: The amount of money actually received from the customer. WizCount calculates the change to be returned.

Change: The difference between the first field and the second field.

ID/Passport Number: According to Israeli law, when cash is paid in excess of a certain amount, the payer’s ID number must be recorded. If the amount in cash reaches or exceeds the amount listed in the Company Settings, the software not issue the documents until an ID or Passport number is provided. When entering an ID number, WizCount checks that the Check Digit is valid. The software does not run this check for passport numbers.

Cash count: When you receive multiple bills and coins, it is recommended that you select the Money Count button. WizCount will open the Count window. This window is used to record the amount received in each bill (or coin), and the software calculates the total amount. At the end of the count, the software checks to see if there is a match between the counted amount and the amount recorded in the Cash received field.

Revaluation: When issuing a receipt in NIS and selecting this button, the software revaluates the amount received in cash to F.C (the currency chosen by the user). The currency and the revaluated amount are recorded in the journal entry (in addition to the amount in NIS).

In a Foreign Currency Receipt, the total cash amount paid by the customer in local currency (NIS) must be recorded in the Cash Value field, because according to book management directives, the entry in the books of accounts must be recorded in local currency (NIS)

Checks 

To enter a payment made by checks, go to the Checks tab.

Check Number: Usually, it is sufficient to enter the last 5 digits of the check number.

Bank: Bank number.

Branch: Branch number.

Account: Bank account number.

Note: If the Account Card contains the bank, branch and account data, this data will be displayed by default. In each new record, the bank, branch and account number will be copied from the previous record, and the check number will be increased by an increment of 1.

Date: Check Payment Date.

Amount: The amount of the check in local currency (NIS).

The number of checks on the receipt is unlimited.

Revaluation: When issuing a receipt in NIS and selecting this button in the check record (row), WizCount revaluates the check amount to F.C (the currency chosen by the user). The currency and the revaluated amount are recorded in the journal entry (in addition to the amount in NIS). To save time and effort, you can select the Revaluation button at the top row to revaluate all records.

In a Foreign currency receipt, the amount must be revaluated in NIS (because according to book management directives, the entry in the books of accounts must be recorded in local currency).

ID / Details: This data may be helpful if the check returns.

Selected records actions: You can select several check records (rows) and then delete them, or select the Copy bank information to account section: WizCount will copy the bank account details from the check into the account card, so the next time checks are received the receipt details can be retrieved without filling them in.

Add Multi Payment Transaction: When receiving a group of checks with consecutive numbers, the total amount of checks and the number of checks received can be recorded and the software will automatically record the checks with consecutive numbering and add one month to the date in each check. If the amount of the first check is different from the amount in the other checks, the first check should be recorded and the software will automatically record the rest of the checks.

Credit Card   

To enter a payment made by checks, go to the Credit Card tab.

In order to meet the PCI standard, the payment is recorded through a clearing company such as Credit Guard.

Revaluation: When this button is selected, the software revaluates the amount received by credit card to F.C (the currency chosen by the user). The currency and the revaluated amount are recorded in the journal entry (in addition to the amount in NIS).

In a Foreign Currency Receipt, the amount must be revaluated in NIS.

Direct Bank Transfer   

To enter a payment transferred directly to the business’s bank account, go to the Direct Transfer tab.

Bank Account: The Account Key of the bank account.

Date: The date the payment went into the bank account.

Revaluation: WizCount will open a new Rate and Revaluated Amount field, indicating the revaluated amount in addition to the record in NIS.

In a Foreign Currency Receipt, the total transfer amount must be revaluated to NIS and recorded in the NIS Cash Value field, because according to book management directives, each journal entry must include an amount in NIS.

Commission: This section is displayed in a Foreign Currency Receipt. The bank charges a commission and deducts it from the amount. This section is used to record the commission. The accounting journal entry will include two transactions: one transaction for the amount of foreign currency received in the account and a second transaction for the commission. The commission will be recorded against a Bank Commission Account (as defined in the Cash Box Settings screen). The customer will be credited with the full amount (before deducting the commission), so the credit amount matches the billing amount (in F.C).

Closing  

When issuing a receipt, you can mark the closing of the customer’s open invoices. The closing can be for the entire invoice (full close) or a part of the invoice (for a partial payment of the invoice). When a partial invoice payment is recorded, WizCount will monitor the following payments, and when the entire invoice is paid off, it will mark the match between the receipts and the invoice.

Select the Closing button (at the bottom section of page).

WizCount displays the open transactions. You can select a Full Close or record the amount to close if a partial payment (payment on invoice) was selected.

The transactions can be sorted or filtered, the same way other table records (Journal Entries, Invoices etc.) are sorted and filtered on WizCount pages.

The various columns in the table are described below:

Accounting Transaction: The transaction number in accounting.

Date: Reference Date (invoice issue date).

Due: Due Date (the date on which the invoice was due).

Reference: First Reference (Invoice Number)

Transaction Total: The transaction amount (invoice amount).

Total Closed: The closed amount in the transaction, as previously stated, an invoice may be partially closed.

Temporary Total: An amount closed by receipt, that was saved in the temporary file without being issued (and therefore, it can still be deleted).

Select: click in this column to close the transaction.

To Close: This column shows the amount to close. The default is the total amount of the transaction. However, the amount can be corrected when you wish to record a partial close.

The bottom section of the page shows the summaries of closed debt as well as the difference (the open amount). It also lists the total closed amount, as well as the amount closed by temporary file receipts.

Weighted Date Of All Selected Debt Transactions / Weighted Date Of All Selected Transactions: The weighted date is a weighted average of the dates and amounts (the higher the amount, the higher the weight of the date). If the customer pays when payment is due, the weighted date of his debt should be the same as the weighted date of receipts.

The difference between these sections is created when not only debt transactions but also credit transactions are selected. The first section refers to debt transactions only, while the second section includes the credit transactions in the calculation.

In a Foreign Currency Receipt, you can close the amount paid in the receipt against open debt, where all amounts (the amount paid and the open debt amount) are in the same currency, and only if the customer’s Account Card specifies that the account is managed in F.C.

Additional Details

In this tab you can record additional receipt data such as Notes, Contra Reference, Costing Code, Contact Person etc.

The Bottom Part Of The Receipt

Withholding Tax

This section is used to record the Withholding Tax amount that the customer deducted from the payment. The software will calculate the percentage of the withheld amount from the total amount. It is recommended to verify that this percentage matches company’s approved %Withholding Tax.

Issuing The Receipt

To issue a receipt, select the Issue button.

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