As part of applying a payment, you can enter a negative dollar amount in the adjustment column in order to account for shorting a payment on an invoice. This automatically creates a credit memo which will be applied to the invoice. You can also overpay an invoice. If you overpay an invoice the system will ask if you want to create a debit memo or a positive dollar entry in the adjustment column. The amounts to be adjusted are defined in Receivables Options and can be limited to a percentage of the cash application or a fixed dollar amount per application.
A zero dollar payment is entered to apply open credit invoices and/or credit memos to the corresponding open invoice and/or debit memo. The check amount is entered as zero because the net of what is being applied is zero ( +100 invoice offset by the -100 credit invoice).
1. When you first enter into the Cash Applications option, a Select A Checking Account window appears. Select the appropriate account to which you want to apply the cash application to and press Enter to confirm your selection. If you select EXIT, the system will leave this option.
2. At the Customer field, enter the six character ID code for the customer that you want to apply the check or cash to.
If you are uncertain of the customer code, see Navigating Net Yield - Selecting a Customer ID Code.
3. A Select A Check window will appear, allowing you to either ADD a new cash application, or select a previously recorded check to view and/or delete.
Note: Credit or debit memos for minor adjustments to a customer's account can also be generated while in Cash Applications by setting the defaults in Receivables Options. When using the cash application option, you can choose between three methods of applying the cash. Each of these methods may be selected when making a cash application and the default method is set in Receivables Options.
When using the cash application option, you can choose between three methods of applying the cash. Each of these methods may be selected when making a cash application and the default method may also be set in Receivables Options.
Use the Available Actions links below for more information.
| Available Actions | Adding | Changing | Printing | Voiding |
Security Required : Receivables - Cash Receipts
| See Also |