Customer Payments
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If the amount applied is greater than the customer's current balance, it will leave the customer with a negative balance. If the customer gives you an amount of money that is greater than their balance, and expects change back, enter only the balance amount into the amount applied field. Once saved, the payment window will then ask for the amount tendered (amount the customer gave to you); entering this amount and tabbing off the field with give the change due.
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You may want to include a message on the bottom of every document. A standard policy message which will print on the document can be set for each transaction type in Setup ... Forms.
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FIFO | First In, First Out. Specifies that the oldest invoice (by transaction date) gets paid first. If any amount remains unapplied, it will then apply to the next oldest, and so on.
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Specific Invoices | When this is chosen, the program will enable the Outstanding Invoices list. The user can then choose which invoices to pay. <Double click> a record to mark/unmark an invoice for payment. Selecting an invoice will pay as much of that invoice as possible until the invoice is either paid or until the amount unapplied reaches zero.
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Undeposited Funds GL Account
(From Setup Accounting) |
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Accounts Receivable GL Account
(From Setup Accounting) |
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Payment Debit GL Account
(From Payment Method) |
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Accounts Receivable GL Account
(From Setup Accounting) |
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