ctcLink Reference CenterFinanceAccounts Receivable Entering and Applying Payments - 20Using a Payment Worksheet to Apply an Underpayment - 20e

Using a Payment Worksheet to Apply an Underpayment - 20e

Purpose: Use this document as a reference for how to Use a Payment Worksheet to Apply an Underpayment in PeopleSoft.

Audience: AR Specialists.

Using a Payment Worksheet to Apply an Underpayment

Navigation:  Main Menu> Accounts Receivable> Payments> Apply Payments> Create Worksheet

Note: The following QRG demonstrates only one of several potential scenarios. This serves as a guideline that will vary depending on the accounting conditions.

  1. Enter your district's business unit as the Deposit Unit (it may be prefilled).
  2. Enter the Deposit ID associated with the payments you wish to apply.
  3. Click the Search button.
Find an Existing Value tab
  1. If there is more than one un-applied payment in the deposit, each payment will be listed (as shown above). Select the payment you wish to apply. If there is only one payment in the deposit, it will open automatically.
  2. Note that using a payment worksheet generally involves three steps: (1) Worksheet Selection, (2) Worksheet Applications, and (3) Worksheet Actions. You are currently on the Payment Worksheet Selection page. Use the Payment Worksheet Selection page to select AR item(s) for inclusion on the worksheet (with the assumption that you might pay those items with the payment you are currently working). To include all open items for a particular customer, configure the Customer Criteria section as follows:
    1. Select Customer Items from the Customer Criteria drop-down menu (the default selection).
    2. Enter the Customer ID (which will prefill if the customer was identified on the payment).
    3. Enter your district's Business Unit (which may be prefilled).
Payment Worksheet Selection page
  1. Click the Build button.
  2. Use the Payment Worksheet Application page (step 2 of the payment worksheet process) to select the open items you wish to pay with the current payment. For each item you want to pay with the current payment:
    1. Select Pay An Item as the Entry Type (the default selection).
    2. Select (via the Sel Checkbox) the open item(s) you wish to pay.
Payment Worksheet Application page
  1. The Pay Amount for each open item displayed in the worksheet defaults to the full amount of the item. Manually Change the Pay Amt field to the amount you wish to pay. In this example I will change the Pay Amt field from $20 (the full amount of the open item) to $15 (the total amount of the payment I am working with). This represents an underpayment of the open item.
  2. Click the Refresh button at the bottom of the page.
Payment Worksheet Application page
  1. The system will generate a new open item representing the outstanding balance (which you can treat as you would any other open item). The generated item will have the same Item ID as the original. Remember that AR items are uniquely identified by the Group ID they are defined in; the duplicate Item ID will help you link this item with the original.
  2. Save the Worksheet.
  3. Click the Worksheet Action link at the bottom of the page.
  4. Use the Payment Worksheet Action page (step 3 of the payment worksheet process) to:
    1. Create / review accounting entries.
    2. Delete the worksheet.
    3. Post the payment.

Click the Create/Review Entries button to generate the payment accounting.

Create Review Entries link
  1. To post the accounting immediately, select Post Now as the Action and click OK.
Posting Action section

Note 1: You  must click the OK button after  selecting a posting action; no posting will occur if you simply Save.

Note 2:  You may also set the posting action to Batch Standard to have the accounting  post when AR Update next runs.

  1. A new window will open to the Process Monitor. Insure that the payment posts without incident.
  2. To review the accounting navigate to Accounts Receivable Payments Review Payments Deposit Accounting Entries.
  3. Insure that the appropriate Deposit Unit has prefilled, and enter the Deposit ID with which you are working.
  4. Click the Search button.
Find an Existing Value tab
  1. If multiple payments in the deposit have accounting, each payment will be listed. Select a payment. If only one payment in the deposit has accounting created, it will open automatically.
  2. Click the Accounting Entries tab.
Accounting Entries tab
  1. The payment you selected has been successfully applied to the open item selected on the payment worksheet.
  2. Note that the item is still open with a remaining balance. To review activity on that item:
    1. Navigate to Accounts Receivable Customer Accounts Item Information Item List.
    2. Search for open items associated with the customer.
    3. Select the item you made a partial payment for.Click the Item Activity tab.

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