Cash maintenance
After the cash payments have been specified and applied, adjustments are needed. Reviewing and transferring payments, adjusting or reversing applications, and correcting interface errors are also needed.
These tables reflect the variety of procedures you can perform to ensure the Receivables balances for each customer are correctly posted before you close the period.
The procedures are divided into these categories:
- Maintaining cash entries
- Maintaining cash applications
| Maintaining cash entries | Description |
|---|---|
| Reviewing payments | Review payments before you release or
post them. There are five payment options you can review:
|
| Viewing exception payment batches and exception payments | You can conditionally perform this procedure to view the batch payments and payments which require an action to close a Global Ledger period. |
| Transferring payments | If payments have been conditionally assigned to the incorrect customer, then you can transfer them to the correct customer or to a non-receivables account. |
| Correcting interfaced payment errors | If payments conditionally contain errors, then you can correct lock box or non-lock box interface errors before you complete the interface process. |
| Maintaining cash application | Description |
|---|---|
| Adjusting unposted applications | Adjust application records, payment or credit memos, and transaction adjustments that exceed tolerance limits. |
| Reversing unposted applications | You can reverse payment applications before you post to the global ledger. You can reverse payment applications that are associated with a cash batch or a specific payment, with a specific credit memo or with a specific transaction. |
| Reversing posted applications | You can reverse payment and transaction applications after you have posted to the general ledger. To complete the reversal process, transfer the journal entries to Global Ledger. |