Applying EFT application records

This procedure is the final step in processing EFT payments. The pending application is automatically applied for the EFT payments to the customer's open items. An EFT payment can be processed through RTM or Application Reversal, but the invoices are not eligible again for EFT processing.
  1. Sign in as Receivables Specialist, Receivables Manager, or Receivables Administrator.
  2. Select Run Receivables Processes > Receivables Automatic Application > Automatic Cash Application.
  3. In the Selections section, specify this information:
    Company
    Select a company number.
    Selected Applications Only
    If you select this check box, then only selected status records are processed:
    • Records from transactions that were processed in the EFT Payment Creation action.
    • Records from transactions that were from online applications that have not been processed.

    If this field is not selected, then in addition to processing selected status records, eligible payments are used to create application records.

    Operator
    If you select the Operator ID Required field in Company, then specify an operator code.
    Post Date
    Select the Global Ledger posting date. If this field is blank, then the Batch Date is the default. If both the Batch Date and the Post Date fields are blank, then the application date is the default.
    Post Date Override
    If you selected a Post Date field, then select whether this date overrides the Global Ledger dates that are assigned to individual payments.
    Payment Batch
    If you are automatically applying payments for a specific batch only, then select the payment batch number. If this field is blank, then all payment batches for the company are processed.
    National Account Credits
    Select whether national account credits are processed.
    Override Method
    Select an override method for automatic cash application. For balance forward customers, payment remittance records can be interfaced, but those remittance records can only be applied if the remittance override method is selected.
    Cash Application Code
    If you selected User Defined for an Override Method, select a cash application code.
    Currency Override
    Select whether payments can be applied to open items with different base currencies.
  4. In the Algorithm section, specify this information:
    Variance
    If you select Algorithm in the Override Method field, then you can specify a variance amount that is used with one-to-one matching. If you do not specify a decimal with the amount, then a whole amount is assumed and .00 is added. A shortage adjustment is created for the difference between the payment and transaction amount. Using the Reason Code field, you can select for differences that do not exceed the specified variance.
    Reason Code
    If you specify a variance amount, then select a reason code.
    Maximum Invoices
    If you select Algorithm in the Override Method field, then select the maximum number of oldest invoices for one-to-one matching.
    Combination
    If you select Algorithm in the Override Method field, then select this field. Select the maximum number of oldest invoices to combine if the sum is equivalent to the amount of the payment. This field is less than or equal to the number that is specified in the Maximum Invoices field.
  5. Click OK.