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.