Posting Payments
NOTE: The Accounts
Receivable account must be assigned on the Accounts tab on
the Accounts Receivable Parameters form; otherwise, an error message
displays and the posting process stops.
- Open the A/R Payment Posting form.
- (Optional) By default, payments for all customers will be posted,
but you can further refine the posting by selecting a range of customers,
bank codes, receipt dates, and check numbers. You also can select
a single payment for posting.
The Print option is automatically selected. You must first
print the A/R Payment Transaction Report to review and verify
the transactions that will be posted.
- To produce the report, select Process. After reviewing the
report, you can post the transaction(s) and create Bank Reconciliation
record(s). Notice that the Commit option is now enabled.
- Select the Commit option.
- To post the payment(s) and create the Bank Reconciliation record(s),
select Process.
The system does not post transactions containing errors. If a transaction
contains errors, correct them, and then try again to post.
When you post an A/R open payment that is tied to a customer order,
the system asks if you want to apply it as a prepaid amount on the customer
order. You have three options:
- To post the payment and not update the customer order, select No.
- To post the payment and update the customer order, select Yes.
- To cancel the action and not update the order or post payments,
select Cancel.
Reversing a Posted Payment
To reverse a posted A/R payment, do the following:
- Enter a negative A/R payment for the customer with the same check
number. You must add a one or zero to the end of the original check
number, as the system will see that this check has already been used
for this customer.
- Distribute the negative amount to the invoices that were originally
paid. If the original payment was distributed as an open payment to
the customer's A/R journal, then distribute the negative amount the
same way.
- Create a zero-amount invoice (for example, 0.00) and post it to
the customer's A/R journal.
- Reapply the open postive payment to the zero-amount invoice.
- Reapply the open negative payment to the zero-amount invoice.
- Post the payments to zero them out on the customer's A/R journal.
Related Topics
Accounts
Receivable Steps
Example: Multi-Site Payment
Posting