About A/R Posting

During posting, the system updates Customer Master, Open Item, and G/L Journal records.

Following is a summary of the posting process:

The system updates two fields of the Customers file for each transaction posted.
If the receipt date for the payment transaction is later than the last payment date in the Customers file, the receipt date becomes the new last payment date.
The system reduces the Customer Posted Balance amount by the payment amount and any discount or allowance you give to the customer.
The system creates an Open Item record for each transaction being posted.
The system creates A/R Ledger Distribution Journal records.
For each transaction, there is one journal record for the cash amount and one transaction for each distribution record you enter.
While posting payments, the system recalculates the Customer's Days Outstanding fields for customers with an Open Item Balance Method. The values change if the payments being posted fully pay an invoice.
The system enters multi-currency gains and losses in the A/R journal (if applicable).
When posting multiple checks, wires, and adjustments, a summary entry is created on the Bank Reconciliations form. You can also post checks, wires, and adjustments individually to create individual bank reconciliation entries.

When you select one of the posting forms, the system verifies that the A/R account is defined. Therefore, you must define the default A/R account even if the payment you are posting does not post to this account. This action prevents you from posting blank account numbers to the journals (an error message displays if the default A/R account is not defined).

For A/R payment posting, if there are records that contain deposit dates, the system uses those dates as the journal posting date; otherwise, the system uses the receipt date. If the deposit date is later than the site's system date, records with those deposit dates will not be posted.

All of the A/R posting reports display the bank currency in the header and the transaction currency in the distribution section.

On the Order Entry Parameters form, if the Commission Due on Payment system parameter is selected, each time you post payments to a customer, the system scans the open items for fully paid invoices. Then, the system updates the corresponding commission due record with the new commission amount.