A/R Quick Payment Application

Use this form to quickly enter and apply payments, distributions, and/or credits to customer invoices.

You can perform these activities from this form:

Enter full or partial invoice payments
Enter full or partial invoice distributions
Enter open payments
Enter finance charge payments
Enter finance charge distributions
Reapply open payments
Specify an open credit to re-apply

Multi-currency processing

When applying payment in a multi-currency environment, all outstanding invoices and credit memos denominated in any currency are converted into a single currency which is the payment currency. All items in the grid are displayed in the payment currency. The invoice balance and payment amount are displayed in the same payment currency. This allows you to offset invoice balances in a single currency of payment. Payment is distributed amount items whose value is now represented in the payment currency.

The Payment Applied field on the header is displayed in the payment currency. This amount is calculated by totaling the distributed applied amounts in the payment currency. No additional conversion is required.

Example:

A payment of $268.94 CAD is applied to these four outstanding invoices in Canadian dollars:

INV000001 - 11.64 CAD
INV000002 - 68.07 CAD
INV000003 - 74.82 CAD
INV000004 - 114.41 CAD

These fields are displayed on the header:

Payment Exchange Rate: 1.4281011
Applied (Payment): 268.94
Applied (Domestic): 188.32


Invoice	Exchange Rate	Amt to Apply (CAD)	Amt to Apply (Domestic)
INV000001	1.000	11.64	8.15
INV000002	1.000	68.07	47.66
INV000003	1.000	74.82	52.39
INV000004	1.000	114.41	80.11

The Unapplied Payment is saved in the payment currency with the exchange rate that is used for payment. In the future, you can recall the open payment and reapply to the open invoices This eliminates the need to convert an open payment into the customer currency. Open payments can only be reapplied with a payment of the same currency.