Cash Receipts Processing
1. ACCOUNTS RECEIVABLE > 4. TRANSACTION PROCESSING >5. CASH RECEIPTS PROCESSING >1. CASH RECEIPTS INPUT
The receipt of monies from a customer in order to pay their account may be accomplished either at the till/counter through sales desk > invoicing/transfers or through cash receipts processing in accounts receivable.
Enter in the customer number for the payment you have received, the contact from the customer record will be displayed. The date will always default to today’s date. If you enter another date, be aware that each record after this one will duplicate that date, unless you specifically change it. Enter in a reference number (usually the customer’s cheque number) and the amount of the payment being made.
If you use separate gl accounts for the different types of payments received in sales desk > Invoicing/transfers, you can use those same codes here to indicate the type of payment that was received. The choices are [c] cheque [$] CASH [D] DEBIT [V] VISA [M] MASTERCARD. Other payment methods are available if you have set them up in 4. Sales desk > 7. ADMINISTRATION > 1. DATA maintenance > 2. credit card. If you only have one GL account for your bank, then you may choose to simply accept the default [c] for cheque.
You will notice that the left to allocate figure is set to the same amount as the amount received.
If the Cash rec autopay (FIELD 43) flags in the 9. SYSTEM UTILITIES > 3. SYSTEM SETUP > 1. ACCOUNTS RECEIVABLE > 1. SYSTEM ParameterS screen is set to [N], then you can choose whether or not to apply the payment to the oldest invoices first. If you choose to not automatically apply the payment, then you will need to pick and choose the invoices to be paid, entering in the gross amount (usually accepting the value there, unless this is a partial payment) and any discount that may apply to the invoice.
If the customer is an Open Item customer, then the screen will display the first 12 outstanding invoices on file. When the amount to allocate is 0.00, pressing F1 may complete the entry.
If you have turned on the flags for Cash Rec autopay in the Parameter file, then the oldest invoices will be shown as automatically paid, with any partial payments being applied to the more recent invoice.
If the customer is a Balance Forward customer, and the Cash rec autopay flag is set to [N], then you will have to decide whether or not to pay the oldest balance first in the same manner as an Open Item customer. If the Cash rec autopay flag is on, then the oldest balance will be paid automatically. You are always given the option of changing what the system has done before the record is accepted.
If a payment is received and it is unknown at the time of entry which invoices are being paid, enter the amount to the UNAPPLIED line. Application of the payment to the appropriate invoices may be done at a later date.
1. ACCOUNTS RECEIVABLE > 4. TRANSACTION PROCESSING >5. CASH RECEIPTS PROCESSING >2. CASH RECEIPTS EDIT LIST
This (optional) program will create and print a Cash Receipts Edit list of all transactions entered so that you can verify your entries before updating. A GL Summary Edit list will also print, which totals the amounts that will be posted to the General Ledger during the cash receipts Update process.
When you press [Return] to begin, the date and times that the process completes each step will be displayed.
1. ACCOUNTS RECEIVABLE > 4. TRANSACTION PROCESSING >5. CASH RECEIPTS PROCESSING >3.. CASH RECEIPTS UPDATE
The start of any Update program begins with an extra screen display to alert you to the fact that the Update has been selected. If you do not wish to continue, press the [F2] key to exit this screen and reply [N] to the next prompt.
If you do wish to continue, then press [enter] to get to the next step:
As with Cash Receipts Edit, once you have replied [Y] that you want to start the update, the date and times of each step will be displayed upon completion of that step. You will receive a Cash Receipts Journal and a GL Journal when all steps are complete. If the update fails to complete properly, please note any error message on the screen and contact the Support Department at AMS. You will not be able to do another update until the problem is resolved.
1. ACCOUNTS RECEIVABLE >4. TRANSACTION PROCESSING >5. CASH RECEIPTS PROCESSING >4. APPLY UNAPPLIED CASH
Use this screen to apply payments that have not previously been applied to invoices and/or transactions or those payments taken at the counter through the sales desk > Invoicing/transfers process. This option applies only to open item customers.
The amount of unapplied cash is displayed and matches the amount to allocate. Either accept with [f11] the amounts as displayed or change the to allocate amount to be the appropriate amount. Once the header has been accepted, the unpaid invoices are displayed and you can indicate whether or not to pay them and how much to apply to each one. Once the amount to allocate is 0.00 the transaction can be completed and not before.
The allocation of the unapplied cash takes affect on the customer account immediately. There is no report generated by this function.
1. ACCOUNTS RECEIVABLE >4. TRANSACTION PROCESSING >5. CASH RECEIPTS PROCESSING >5. UNAPPLIED CASH LISTING
This is a report showing all of the payments within the Accounts Receivable system that are as yet unapplied to specific invoices or balances. The report shows the customer number and name, the date of the payment, the reference if any, and the amount of the unapplied payment.
1. ACCOUNTS RECEIVABLE >4. TRANSACTION PROCESSING >5. CASH RECEIPTS PROCESSING >6. PAYMENT HISTORY INQUIRY
Use this function to display a customer’s paid invoices between dates that you specify or from the first date on file to today’s date if the default dates are accepted (by pressing enter through the field). If the reference number (usually the cheque number) is known, it may be entered as well. If the reference field is left blank, all references will be included.
Payments processed in accounts receivable cash receipts and payments applied in the apply unapplied cash function are available for inquiry. The reference number, payment date, and discounts applied, the original invoice amount, the original invoice date and the method of payment are displayed. A [?] is used as a method of payment for all invoices paid as part of the apply unapplied cash process.