Use the Cash & Credit Application sub module to post cash and checks that you receive and make adjustments to Open Receivables. This sub module enables you to post payments, discounts and/or adjustments to customer invoices; create on-account balances, apply credit memos or on-account balances to customer invoices; and post miscellaneous cash paid by a customer or no specific customer.

By using batch amounts and distributed amounts, you can make sure the system distributes all money correctly.

The Cash & Credit Application menu includes the following programs:

Use the Cash Receipts & Adjustments Entry program to post payments, discounts and adjustments to customer accounts. You can also use this program to post miscellaneous cash to GL accounts.

The postings are not updated to the open receivables file until the Cash Receipts & Adjustment Register is run and updated. If a check was entered incorrectly, you can choose not to update the register and go back into the entry program to make corrections. When the Cash Receipts & Adjustment Register is correct, you can update it.

Use the Document Change F/M change dates on invoices running the register.

Use the Automatic Credit Application Register to run through the open receivables file and print a list showing each customer with credit memos and listing invoices that the credit memos will apply against, beginning with the oldest invoice on file. The optional update applies the credit memos to the invoices in the open receivables file.