Payment Methods - 20e

Purpose: Use this document as a reference for payment entry and application.

Audience: Accounts Receivable staff

Scenario

Payment Entry and Application

Outcome

You have a payment and know the open item with which it should be associated.
Use Express Deposit
Express Deposit allow you to enter the payment information, apply the payment, and post it.
You have a payment and know that it should not be associated with an open item or any customer account.  Rather, it should be considered miscellaneous cash.
Use a Regular Deposit and flag the payment to be Journaled Directly.
Create the accounting entries separately.
Directly journaled items do not get posted to any customer account.  You will enter the accounting information and it will post to the GL when Journal Generator runs.
You have a payment with some identifying information but are not yet sure whether or not it can be matched to an open item.
Used a Regular Deposit and do NOT flag the payment to be Journaled Directly.
Apply and then post the payment to one or more open items using a payment worksheet.


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