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Open Item Post and Apply

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:

• A new account with no activity
• An existing account with a zero balance and no activity since the last statement

 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.

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:

• Posting Date:  Enter the date of the posting. 
• Account number: Type in the Account number to post or apply credit to and press Enter.

• Transaction Code drop down box: select the type of transaction to post.

Transaction Code values:

• Bad Debt Write Off:  Use to decrease the balance of a customer’s account when writing off bad debts.
• COD Correction: Used to correct COD payments taken through Point Of Sale or in the posting program.
• Credit Adjustment: Used to decrease the balance of a customer's account.
• Credit Memo: Used when a customer returns merchandise for credit.  Using the Credit Memo transaction code will display the same as creating a Credit Memo through Point Of Sale, however a ticket will not be created and inventory will not be affected.  In addition, The Credit Memo function will only track totals and not differentiate between parts or labor items.
• Debit Adjustment: Used to increase the balance of a customer's account.
• Discount %: Used to manually apply a discount percent to the account based on a particular dollar amount. When posting a discount, a box will display and ask the user to enter the amount to calculate the discount from.  You can enter the to-date-balance, last statement amount or any amount you prefer.
• Discount $: Used to manually apply a discount to the account based on a particular dollar amount.                                 
• Invoice: Used to post invoice totals to your accounts. The Invoice function will only track totals and not differentiate between parts or labor items. Inventory will not be affected.
• NSF (non-sufficient funds): the following 4 items are used when handling bounced checks. 

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.

• NSF Check Post: Used to post monies back to an account, increasing the account’s balance.
• NSF Check Redeposited: Used to receive (for a second time) monies that were originally bounced. 
• NSF Fee Collected: Used to post the payment of a bounced-check fee.
• NSF Fee Post:  Used to post a bounced-check fee. 

• Payment on C.O.D.: Used to apply a payment to a C.O.D. account.
• Received on Account: Used when a payment is received from a customer.
• ROA Correction:  Used to apply a correction on a received on account.
• Service Charge: Used to apply an additional charge when necessary.
• Service Charge Waived:  Used to waive service charges.  This must be done after a statement reset has been done.

• Post Amount field: enter the dollar amount to post to the account.
• Ref Num field: enter a user-defined alphanumeric reference number for the user to identify and track the transaction. For example, the reference number can refer to an invoice transaction number being paid off or the check number being used for a payment.
• Cust PO Num field: If applicable, enter a customer PO number for the customer to identify and track the transaction.
• Memo field:  Enter any notation that should be associated with a credit/debit.  The information will display in the memo field below.

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