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On the A/P Quick Payment Application form, creates distributions for all selected items in the browser and optionally reapplies any selected open payments to selected vouchers.
On the A/R Quick Payment Application form, applies the payment, distribution, or credit to the selected invoice(s). A payment, distribution, or open credit can be applied to multiple transaction currencies.
For open credits, the open credit payment amount is converted to the transaction currency, based on the domestic amounts, when applied to invoices (or other transactions). An open credit payment transaction may be split into multiple payment records covering multiple currencies.
For example, a customer with currency = CAD enters an open payment for $500 CAD, Exchange Rate = 1.25, which equals $400 USD (domestic). That open credit is then applied to three invoices:
- Transaction Currency Amount = $200 USD, Exchange Rate = 1.0
- Transaction Currency Amount = $100 EUR, Exchange Rate = .625
- Transaction Currency Amount = $50 CAD, Exchange Rate = 1.25
The open credit payment transaction is then changed as follows:
- Payment created for $200 USD, Exchange Rate = 1.0 o Decrease open credit payment by $200 USD, becomes $250 CAD (500 - 200*1.25)
- Payment created for $100 EUR, Exchange Rate = .625 o Decrease open credit payment by $160 USD, becomes $200 CAD (250 - 160*1.25)
- Remaining $50 is applied to $50 CAD invoice