Receiving money [video]

Transcript

Part of the billing process obviously is receiving the funds, which is always fun. So in Workamajig, You need to be able to document what funds have come in and how to apply them. It's really easy. All we need to do is select that we're going to be receiving money when we receive money. The first thing we have to do is tell the system who sent it to us. And of course, how much money did they send after that, It's pretty Did they send it via ACH? Did they send a check? How did they pay us? And typically, anything that they pay us with is gonna have a reference number that we can refer to because we're probably gonna have to reconcile this with our bank accounts later. We can also then tell the system if we'd like to auto-apply the funds or manually choose which invoices or even define more specifically how much might be applied to any of those invoices. When we're done, that will go right into our system and it will show up on a printable deposit slip. We're gonna be able to see the details of that receipt. So if you ever need to pull it up later, you can see where any monies were applied and how they were broken out. These will also show up on a deposit that we can print out if needed to take to the bank. If you're depositing checks and, of course, when it's time to do our bank reconciliations, we need to make sure that we're going to reflect these funds in those banking needs.