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CASH RECEIPTS Configuration and Handling

CASH RECEIPTS Configuration and Handling. MIDWEST USER GROUP Mar 19, 2001. Agenda. Cash Receipts Applied Payments Unapplied Payments Non-AR Payments Underpayments/Overpayments Returned Checks Zero Payments Customer Account Reports Questions. Applied. Invoice/ Memo. Receive

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CASH RECEIPTS Configuration and Handling

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  1. CASH RECEIPTSConfiguration and Handling MIDWEST USER GROUP Mar 19, 2001

  2. Agenda • Cash Receipts • Applied Payments • Unapplied Payments • Non-AR Payments • Underpayments/Overpayments • Returned Checks • Zero Payments • Customer Account Reports • Questions

  3. Applied Invoice/ Memo Receive Payment Unapplied Customer Balance Invoice/ Memo Non-AR Update Accounts Payment Application Register Payment Register

  4. Cash Receipts • 27.6.4 Payment Maintenance • Record Incoming Cash • Apply cash to an open Accounts Receivable Item • Auto Apply • Three types of payments • Applied • Unapplied • Non-AR Receipt • 27.6.6 Payment Register

  5. Applied Invoice/ Memo Receive Payment Unapplied Customer Balance Invoice/ Memo Non-AR Update Accounts Payment Application Register Payment Register

  6. Applied Payments • Types of Applied payments • Invoice • Memo • Automatic Payment Selection

  7. Applied Invoice/ Memo Receive Payment Unapplied Customer Balance Invoice/ Memo Non-AR Update Accounts Payment Application Register Payment Register

  8. Unapplied Payments • Unapplied payments • Type = “U” • Decrease Customer Balance • Open until applied • N/U Reference Numbers • 27.6.9 Unapplied Payment Application • Open Invoice or Memo • 27.6.10 Payment Application Register

  9. Applied Invoice/ Memo Receive Payment Unapplied Customer Balance Invoice/ Memo Non-AR Update Accounts Payment Application Register Payment Register

  10. Non-AR Payments • Non-AR Payments • Type = “N” • Miscellaneous Payments • Creates General Ledger Entry

  11. Underpayments/Overpayments • Underpayments • Change Discount Account • Credit Memo • Overpayments • Unapplied Payment

  12. Returned Checks • Two Methods • 27.1 DR/CR Memo Maintenance • 7.13.1 Pending Invoice Maintenance

  13. Zero Payments

  14. Zero Payments 1. Post Invoice $2000 2. Post Credit Invoice for Returned Goods –$2000 3. Process Zero Payment Apply to Both Invoices Ref Amt To Apply 10001 +2000 10002 –2000 Reference Type Amount Open Check 10001 I 2,000 0 6012 10002 I –2,000 0 6012 6012 P 0 0

  15. Customer Account Reports • 27.13 Customer Account Inquiry • 27.14 Customer Account Statement Print

  16. Aging Reports • Used to monitor Account Activity and to track Past Due Amounts • Detail vs. Summary • Aging Reports Available • AR aging by due date report (27.16) • AR aging by invoice date report (27.17) • AR aging as of effective date (27.18)

  17. Cash Receipts Questions…?

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