Entering and automatically applying payments

Use these guidelines to specify the field values:

Type

Select the type of cash application. This is a required field.

Payment or Credit Memo

Specify the number of the payment or credit memo being applied. The payment number and credit memo numbers must be unique for a COBRA participant or retiree. This is a required field.

Amount

Specify the amount of cash received or the amount of the credit memo. This is a required field.

Transaction Date

Specify the date of the cash application. This is a required field. The transaction date is the date payment was received or the date a credit memo was issued.

Automatic Apply

Select Yes to automatically apply the payment. The application applies the payment to the oldest invoice first. If the invoice includes multiple benefit types, then cash is applied in alphabetical order for each benefit type.

See Entering and manually applying payments.

Account

If you are entering a credit memo, then select the general ledger account information for the debit entry. If you are entering a payment, then the application debits the Cash Account defined in Benefits Company (BN00.1); the Cash Account does not display and cannot be overridden.