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<< Click to Display Table of Contents >> Payment Details |
  
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<< Click to Display Table of Contents >> Payment Details |
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To enter relevant information in the Payment Details page of the Apply Payment function, perform the following steps:
1.In the Payment Information area, review and accept or enter values in the following fields:
oReceipt Date
Enter in this field the date when this transaction will be recorded as received. The default date in this field is the current system date. You may enter another receipt date in this field as long as it is not restricted for posting. You may click the Fiscal Period Table Lookup button to display the Posting Period Restrictions function screen which shows the periods that have been restricted for posting. |
oPay Code
Enter in this field the pay code that represents the method of payment for the amount that you are going to apply to the invoice(s). You may click the List box button to display a list of available pay codes pre-defined in the system. The List box only shows pay codes with Debit/Credit Card, Cash, Check, Other, and ACH pay types. Click the applicable pay code from the list to select. You cannot continue to process the transaction unless you enter a valid pay code in this field. |
oBank #
Enter in this field the bank into which the payments received will be deposited. The default value in this field is the bank account number used in the last receipt transaction entered in this function. You may click the List box button to select the appropriate bank account number. |
oPaid Amount
Enter in this field the amount you received from the customer as payment for the outstanding invoice(s). You must enter in this field the full amount received from the customer.
If the payment is made using credit card, enter in the field the net amount received (equivalent to the invoice amount less the finance/service charge usually deducted by credit card companies.) To illustrate, if the customer pays $400 using his American Express card to settle his outstanding invoice and the credit card company withholds 2% of the total amount, the actual amount received is only $392. You must enter in this field a value of $392 and record the remaining amount of $8 as a discount or to another appropriate account. If you want to record this amount as an adjustment, click the Adjustment field in the grid and indicate the amount. |
oPay Currency Exchange Rate
This field is enabled only if the customer is using a foreign currency code. The field displays the exchange rate that you have assigned to the currency code of the foreign customer entered in the Customer # field. You may update the value in this field; however, this new exchange rate will only apply to the current receipt transaction. The change that you make in this field will not affect the exchange rate in the Currency Exchange Maintenance function. |
oBank Amount
Enter in this field the amount that will be credited to the bank wherein the payment received will be deposited. If the payment transactions are in a foreign currency amount, the converted amount is shown in this field. |
oBank Currency Exchange Rate
This field is enabled if the bank entered in the Bank # field is a foreign bank which has a currency code different from the customer's. The field displays the exchange rate that you have assigned to the currency code of the foreign bank you entered in the Bank # field. You may update the value in this field; however, this new exchange rate will only apply to the current receipt transaction. The change that you make in this field will not affect the exchange rate in the Currency Exchange Maintenance function. |
oCheck #/Credit Card #
This field is enabled only if the pay code entered in the Pay Code field has a check or credit card pay type. Enter in this field the check number if the payment is by check, or the credit card number if it is paid by credit card. If the customer pays his account by credit card, you may click the List box button to display the customer's credit card information saved in the system. To select, click the credit card number that you want to use for this receipt transaction. The customer’s credit card records are set up in the Customer Maintenance function. |
oReference
Enter in this field reference information such as the payer's name (if it is different from the customer); the bank account on which the check was written; the company that issued the credit card, cashier’s check or travelers check for this receipt transaction. |
2.To apply open credits to the outstanding invoices, click the Apply Credit button next to the Total Open Credit field. Clicking this button will display the Open Credit Details page.
3.Click the Apply Offset button if you want to apply customer's balance from Accounts Payable transactions. Clicking this button will automatically display the AP Balance Details page.
4.Click the Auto Apply buttons next to the Unapplied Amount and the Unapplied Open Credit fields to automatically apply payment amounts under the Apply Payment column. When you click this button, the system automatically fills in the Apply Payment fields beginning with the first invoice in the grid until the unapply amount displays a zero value. When the system automatically applies the customer’s payment, it takes into account any prompt payment discounts that the customer has taken from the invoices that are being paid in full.
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5.In the AR Invoices grid, perform the following:
5.1. Select the invoice(s) to which you will apply the paid amount. You can select from the following methods to apply the paid amount. |
•You may manually apply the paid amount to the individual invoice balances by entering a value in the Apply Payment field. If you want to apply an amount that is equal to the invoice balance, you may click on the Apply Selected button in the grid toolbar. Click the Unapply Selected button in the grid toolbar to clear the value in the Apply Payment field. The apply amount must not be greater than the value in the Paid Amount field; otherwise, you cannot save the transaction.
•You may choose to automatically apply the amounts by clicking the Apply All button in the grid toolbar. When you click the Apply All button, the system automatically fills in the Apply Payment fields, beginning with the first invoice in the grid, then the second, and so on until the Unapplied Amount field displays a zero (0) value. When the system automatically applies the customer’s payment, it takes into account any prompt payment discounts that the customer has taken from the invoices that are being paid in full. You may also click the Unapply All button in the grid toolbar to clear the values in the Apply Payment fields for all invoices.
5.2. If you want to record discounts, adjustments or write-off amounts to your invoices, enter the corresponding amount int he Apply Discount, Apply Adjustment, and Write-off fields in the grid, respectively. |
5.3. Click the Show/Hide ( |
6.In the Advance Billing grid, perform the following:
6.1. Select the advance bill(s) to which you will apply advance payment. You can select from the following methods to apply the paid amount. |
•You may manually apply the paid amount to the individual advance bill by entering a value in the Apply Payment field. If you want to apply an amount that is equal to the invoice balance, you may click on the Apply Selected button in the grid toolbar. To clear the value in the Apply Payment field, click the Unapply Selected button in the grid toolbar. The apply amount must not be greater than the value in the Paid Amount field in the Payment Information area; otherwise, you cannot save the transaction.
•You may choose to apply the amounts automatically by clicking the Apply All button in the Advance Billing grid toolbar. When you click the Apply All button, the system automatically fills in the Apply Payment fields, beginning with the first invoice in the grid, then the second, and so on until the Unapplied Amount field displays a zero (0) value. You may also click the Unapply All button in the grid toolbar to clear the values in the Apply Payment fields for all invoices.
6.2. If you want to apply payment to the advance bill using the customer's open credit, enter the payment amount in the Apply Open Credit field in the grid. Refer to the Open Credit Details topic for more information. |
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