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Open Item Post and Apply


Overview

 

The Open Item Post and Apply feature is an alternate screen for posting credits or debits to Open Item accounts only.  Accounts are Open Item based on the value specified in the Open Item field of the account number entered (must be a Yes).

The Open Item Post and Apply utility enables a payment or partial payment to be applied to specific invoice(s). Credit transactions can be posted to an Account and applied to the specific invoice(s) at another time.

 

The Open Item flag on the Account Record can be changed manually if one of the following applies:

 For accounts that do not meet either of these criteria, see Convert To/From Open Item documentation to convert an account from Balance Forward to Open Item or from Open Item to Balance Forward.

 

Note: If attempting to post transactions to a Centralized Account, the following message will appear:

This is a centralized account. Payments must be sent to the central office for posting.

 

Steps: Posting

 

To post and apply an amount to an Open Item account balance, access the screen by clicking:

 

File | Account Maintenance | Open Item Post and Apply

 

Posting Screen:

 

 

Transaction Code values:

Example:  An account comes into the store and buys $100 worth of merchandise.  He pays with a check.  Days later the check bounces.

Charge the customer for the original amount of the invoice.  Use the NSF Check Post to charge the account the $100.00.  At the same time, use the NSF Fee Post transaction code to charge the customer a fee for bouncing the check (for this example, let’s charge the customer $25.00). 

When the customer pays the balance, use the NSF Check Redeposited to receive the $100 into the system again.  Finally, use the NSF Fee Collected to collect the fee, $25.00. 

Using these 4 NSF transactions appropriately will update an external GL software program with the correct information and for auditing purposes.

 

 

Once the posting has been completed and the user has entered information across the Posting line, the user can then immediately begin applying the dollars entered to the transactions in the box below. 

 

Select All: click Select All to select all transactions displayed on the screen.

Deselect All: click Deselect All to de-select (uncheck) all transactions displayed in the screen.

Preview Ticket: after selecting a single transaction line, click Preview Ticket to review the ticket in a preview screen.  The user may print or e-mail the invoice at that time.

Edit Memo: click Edit Memo to adjust the memo on a particular line.

Suggest Amt To Apply: The suggested amount to apply to a particular line will display once a debit/credit has been entered into the Posting line.  This is either the remaining amount (if the debit/credit is less than the total amount remaining) or the total amount (if the posting amount will cover the entire remaining amount for a line). 

Apply Suggested To Current Line:  Once a line has been selected and an amount displays in Suggested Amt to Apply, click the Apply Suggested to Current Line to apply the amount.  Otherwise the user can click on the To Apply field and enter manually the amount to be applied.

 

Post and Apply To Account OR Post To Account Without Applying:  Whether the posting is simply posted but unapplied, or the posting was posted and applied, the box in the lower right must display in black for users to be able to continue.

              Post and Apply To Account: selecting this choice will apply postings.  These cannot be undone.

Post To Account Without Applying:  select this choice will leave the postings as unapplied credits/debits on the account.  Although the account’s balance will reflect the debit/credit, the line item will display on the transaction history report and on statements until it has been appropriately applied.

 


See also

Accounts
Customers
Ship Tos
Transaction History
Payment History
Sales History
Monthly Sales By Account
Price Matrix By Account
Price Matrix By Group
Special Pricing By Account
Special Pricing By Group
Statements
Posting
Apply Open Item Postings
Posting Log Print
Convert To / From Open Item
Account File Update
Account / Customer Utilities
Customer Letters
Potential Customer Info


Open Item Post and Apply Last Updated On 6/13/13 JMM