Payments can be applied to WorkGuru invoices. This allows you to track payment status and batch transactions to clearing accounts in Xero to assist with reconciliation for certain business workflows. Payment types can also be used to account for sales and purchase deposits.
Access the payments dashboard at Accounting -> Payment Types
Click the Create New link to create the required payment type, or Edit to update an existing payment.
Enter or edit the following fields:
- Payment Type Name - Payment a name to identify it when applying payments on an invoice or purchase order.
- Clearing Account - Map it to the corresponding clearing account. If this dropdown is blank you will need to create an account and sync it with WorkGuru by clicking Get Chart of Accountsfrom your accounting integration dashboard.
- Current Asset - for sales clearing accounts and purchase deposits
- Liability - for sales deposits
Click Save Payment Type to apply the settings. The payment type is now available to be applied on invoices and purchase orders.