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Apply Customer Payments
Accounts Receivable >> Customer Payments >> Payments
>> Apply Payments
This process will initially display the Batch Information form. The bank account general ledger number default is the account selected in the company profile as the A/R bank account. If you need to change it you can either type in the account number or double-click in the field to bring up the G/L account selector screen. The J/E Date will be the date the journal entry (normally a debit to the bank and a credit to accounts receivable) is made into the general ledger system.
You may select Bad Debt and the appropriate general ledger number to write off bad debts.
Once all the information is correct, you can select [OK] to proceed to the Customer Payment Entry form.
After selecting the customer, the Customer Payment Amount form is displayed.
The Customer Payment Information form is used to enter the amount of the payment and to select the form of payment; either check, cash, or credit card. If check is selected, a field is displayed for entry of the check number.
If credit card is selected, an additional box is displayed to enter the credit card type, credit card number and expiration date. If Other credit card is selected, a field will appear to enter the bank name of that credit card.
After entering the appropriate payment information, you may select how you wish to apply the payment.
Selecting [Auto] will apply the total payment, starting with the oldest invoice and each subsequent invoice until the full amount of the payment has been applied. If there are open credit memos on the account, they will also be taken automatically and applied to the outstanding invoices.
Note: You cannot use [Auto] if there are discounts on any of the invoices because you must choose whether or not you want to apply the discount.
If you select [Auto] you will be prompted to verify the payment before it is applied.
If the payment amount is greater than the sum of all the open invoices, the system will create a credit to the customer account so that the entire payment amount is applied. The creation of the credit memo to the customer account will also generate the proper general ledger entries
If [Manual] payment application is selected, you may enter the amount of the payment you wish to apply to each invoice, double-click on the To Apply field to apply an amount equal to the total outstanding on a particular invoice or type in the amount if you want to make a partial payment. Credit memos may also be selected and then applied to outstanding invoices. As in the [Auto] selection, if the payment amount is greater than the total of the open invoices, the system will automatically create a credit to the customer's account.
When you [Exit] from the A/R Customer Payment form, a pop up form is shown from which you may choose [View] to display a batch list of all payments applied. If you print this report you can use it as a deposit slip.
The batch total should be balanced to the deposit slip or a control tape. Choose [OK] to return to the Customer Payment form. If you are not in balance, you may then make any corrections that are necessary. Apply any payments that may be missing. If a payment was applied to the wrong customer, apply a negative payment to the incorrect customer and then reapply the amount to the correct customer. If you are in balance, choose [Close Current Window] again and then [OK] to exit back to the Module.
For step-by-step instructions, see the Common A/R Transactions section.