Overview
This program allows for the entry of quick single cash receipts and the allocation of those quick cash receipts to open transactions in the Accounts Receivable. The Quick Receipt is posted at the completion of each payment, and each payment is considered to be a complete bank deposit. Therefore, Quick Cash Receipts is unsuitable for entering deposits combining multiple payments.
Navigation
Accounts Receivable > Quick Cash Receipts
Process Work Flow(s)
Fields
Company: This is the Financial Company for which the Cash Receipts are being created.
Transaction Date: This date will default to the system date but can be overridden.
IMPORTANT When processing a Quick Cash Receipt, the system checks this Transaction Date. If the date falls within a period marked as 'Closed to AR Postings', the system then checks the '
Suppress Posting in Next Open Period' flag on the Financial Company master record:
- If this flag is unchecked, the transaction will post on the first day of the next open period.
- If this flag is checked, the system will prevent the user from processing the Quick Cash Receipt.
Customer: Enter the customer Name field in the type-ahead field. When the customer has been selected, the list of open transactions (Invoices, Debit Memos, Credit Memos) will be displayed.
Payment Amount: The amount of cash received.
Payment Reference: This will typically be the customer Check # or other reference number used to identify the Customer Payment.
Deposit Reference: This will typically be in a form a user can identify from a bank statement (e.g., 13 May 2019 # 1).
Bank: The Bank Account associated with the transaction being entered
Transaction Type: Select the form of payment (Check, Cash, EFT, Credit Card) from the dropdown menu.
Maintenance (AR) Currency: Maintenance Currency used for the selected Customer. If the Customer’s currency differs from Home Currency for the given Company and ‘Place Orders in Customer Currency’ is TRUE for the Customer, this is set to the Customer’s currency; otherwise, it will be set to Home Currency.
User Comment: This is an optional user-defined comment field.
Once all the information is entered, click Search, and a list of open transactions for the selected Customer will be displayed.
Allocate payment to Open Transaction(s)
Fields
Total Credits: Sum of the selected credit transactions (e.g., Credit Memo)
Remainder to Unapplied Cash: When checked, an Unapplied Cash transaction will be created for the Remaining Amount displayed
Remaining Amount: The amount remaining to apply.
Total Debits: Sum of the selected credit transactions (e.g., Invoice, Debit Memo)
Select the open transaction(s) being paid. The Remaining Amount field will be populated with the unconsumed deposit/payment amount. Once all the selections have been made, click Process Receipt.
NOTE When the 'Payment Amount' is zero, if the 'Total Credits' is greater than the 'Total Debits' and the flag 'Remainder to Unapplied Cash' is checked. The flag will not be considered, and no unapplied cash will be created.
EXAMPLE 1 If the 'Payment Amount' is '20', 'Total Credits' is '-40', 'Total Debits' is '30', and 'Remainder to Unapplied Cash' is checked. During processing, the system applies a credit of '30' to the debit '30', leaves the remaining '10' in credit as-is, and creates an Unapplied Cash for the 'Payment Amount' of '20'.
EXAMPLE 2 If the 'Payment Amount' is '0', 'Total Credits' is '-40', 'Total Debits' is '30', and 'Remainder to Unapplied Cash' is checked. During processing, the system will not consider the 'Remainder to Unapplied Cash' and throws the error "Selected Invoice total does not match the Payment Amount.".
This program creates CRATOs for processing the selected transactions. The number of CRATOs created may vary from the number of transactions selected.
IMPORTANT The maximum number of CRATOs that can be processed by this program at a time is determined by the value of the custom setting 'MAX_CRATOS_TO_PROCESS_IN_CASH_RECEIPTS'. The maximum allowed limit for processing CRATOs by this program is 800.
If the user needs to restart the Quick Cash Receipt and redo the receipt, they can do so by clicking Start Over.
Quick Cash Receipts are posted via the Cash Receipts Journal program.
SEE ALSO
Cash Receipts Overview
Cash Receipts Journal
