Features

The Payment Entry and Application conversation provides the following features for added flexibility.

·     An online scratch pad, the Open Item List screen (AR120S2A), can be used to search for the best fit of the payment to the open items.  You may specify the field by which the open item list will be sorted on the Payment Entry and Application Header Screen (AR120S01).  In addition, the open item list may be restricted to only documents with an open amount.

·     If a payment is to be applied to a pre-determined number of open items, the Mass Entry/Payment Applications Screen (AR120S06) can be used.  The screen allows mass entry of payment applications by entering invoice number and dollar amount.

·     When using the Apply To Specific option on the Payment Entry and Application Header Screen, the customer number is not needed.  The customer will be retrieved from the open item specified on the header screen for payment.

·     A multi-customer payment conversation exists where multiple customers can be selected and the payment applied to specific invoices for each customer. 

·     All documents for all customers belonging to the corporate customer will appear on the list screen if the Corporate List field is specified on the header screen.

·     The Deduction Entry Screen (AR120S07) can be used to record miscellaneous deductions taken by a customer.

·     Installments generated for an invoice are treated the same as any other open item, and appear on the Open Item List screen.  You may apply payments, write-offs, or clearing transactions to installments as you would any other open item.

·     When open items are determined to be uncollectable, a write-off payment is entered and applied to the uncollectable open invoice(s), debit memo(s) or finance charge(s).

·     The chargeback feature allows you to chargeback underpayments of an invoice or overpayments of a payment back to the customer.  You may also set-up your system to automatically create debit or credit memos for the chargebacks.

·     Clearing transactions allow you to clear debit memos, credit memos, and finance charges that should be associated with specific invoices into those invoices.  Credit memos can also be applied to open items at the same time a payment is being applied.  This eliminates the need for a separate clearing transaction after the payment is applied.

·     Customer payments can be applied to all open items for the customer regardless of which company/location made the sale.  Or, the payment applications can be limited to open items of a single company/location.

·     Previously entered payments can be reviewed or corrected.  If some or all of a previously entered check was placed on account, that on-account amount can be applied to open items.

·           If the invoice or payment currency is different from the base currency, the exchange rate may be entered or taken from the current exchange rate information.  If the exchange rate is different from the rate in effect when the sale was made, an exchange gain or loss transaction is generated.