Is there any other way to apply payments

Answered

Comments

6 comments

  • Avatar
    Kymber Taylor

    The only way is with a Pay App. Credit Memo might be better than Write Off. How are the departments depositing the funds - are they using a cash receipt? Do you use the Electronic Payment Claim process?


    In the event that they are using the Cash Receipt/CMD - I ran a test in monsters-sbx:

    1) Created a Cash Receipt (6124)
    1031400-1500 $50 C
    1031400-8000 $50 D


    2) Created the CMD (6125) to make the deposit
    bank offsets created

    3) Created an invoice to ABB2 (6130)
    4131410 - 1800 $5000 C
    4131410 - 8000 $5000 D

    4) Created a Cash Control (6128) _Payment Medium Cash_ - entered the Cash Receipt from above and

    5) Pay App created - applied payment to customer ABB2 $50
    6812950 - 8015 (AR Clearing) $50 D
    6812950 - 8000 $50 C
    4131410 - 8118 $50 C
    4131410 - 8000 $50 D

    6) Created a GEC 6131 to move departmental transaction to AR Clearing because Cash Control does not create any entries when Payment Medium is Cash.
    1031400-1500 $50 D
    1031400-8000 $50 C
    6812950-8015 $50 C
    6812950-8000 $50 D

     

    0
    Comment actions Permalink
  • Avatar
    Kymber Taylor

    Tammy (UH) 

    We have also recommended our users use the Credit Memo when a payment was posted to the wrong invoice or for the wrong amount.

    0
    Comment actions Permalink
  • Avatar
    Kymber Taylor

    Janet Strait 
    We do not use the cash receipts doc. AR will not be implemented for campus, only for CGB and sponsored is handled centrally. We have plans for the electronic claim process, but I'll have to check to see where that plan lies.

     

    0
    Comment actions Permalink
  • Avatar
    Kymber Taylor

    Even if you don't use the CR doc, there is a doc that posted the receipt to the departments account which could be used with Cash Medium so that the payment can be applied to an invoice. Do you use bank offsets?

    .

    0
    Comment actions Permalink
  • Avatar
    Kymber Taylor

    Janet Strait (Cornell)
    Typically these deposits are recorded on an advance deposit doc so that has already recorded the cash to the bank. Not my area of expertise so I'll have to dig into this a bit.

    0
    Comment actions Permalink
  • Avatar
    Kymber Taylor

    Then you would use the AD doc # instead of the Cash Receipt/Cash Management Document in the above scenario - bank offsets would be posted when the AD is created if you have bank offsets turned on. 

    0
    Comment actions Permalink

Please sign in to leave a comment.