Documentation >
MAC-PAC Reference Library >
Financials >
Accounts Receivable >
Key Concepts and Procedures >
Payment Entry and Application
Payment Entry and Application
The Payment Entry and Application Conversation is used to enter and apply checks, drafts, write-offs/chargebacks, and clearing transactions. Only one person at a time can process payment applications for a particular customer.
Checks are received from customers in payment for credit purchases and are used to pay specific open invoices, debit memos, and finance charges. Checks can be applied directly to a specific open item, to the oldest open items, or placed on account. If sequential fiscal numbering is used, a fiscal number is assigned to the document only if VAT is calculated as a result of the transaction.
Related