Accounts Receivable

Yahoo Archive
1
If we receive an underpayment we usually then create a credit memo and
apply to the balance.

If it is an over payment, then hopefully, there is a second invoice and
just apply it to that. If not, we cut them a check for the difference.

But we HARDLY EVER get overpayments....maybe 1 a year.



M. Manasa Reddy
manasa@...
P: 630-806-2000
F: 630-806-2001


________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of mader.patty
Sent: Wednesday, March 18, 2009 3:43 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Accounts Receivable



In applying cash to the open receivables, how are companies handling
over/under payments of invoices. We are in testing/learning stage, and
as far as I see it, the under payments are just a short payment to the
invoice, but with an overpayment, the system will only allow the amount
of the invoice to be applied and you would have to put the balance "on
account". In creating "on account" transaction it creates an
invoice/credit memo. Is there something in the system that you could put
detail information about that over payment. Any suggestions?






[Non-text portions of this message have been removed]
2
In applying cash to the open receivables, how are companies handling over/under payments of invoices. We are in testing/learning stage, and as far as I see it, the under payments are just a short payment to the invoice, but with an overpayment, the system will only allow the amount of the invoice to be applied and you would have to put the balance "on account". In creating "on account" transaction it creates an invoice/credit memo. Is there something in the system that you could put detail information about that over payment. Any suggestions?
3
We create/post an AR Invoice, using a mIsc charge set to an Overpayment
account, then pull this into the payment group.



PROS: This way it can be tied to the sales order history for the
overpayment

CONS: It does not show up on the AR Aging, and is maintained in an
account with no report to reconcile values.



________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of mader.patty
Sent: Wednesday, March 18, 2009 1:43 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Accounts Receivable



In applying cash to the open receivables, how are companies handling
over/under payments of invoices. We are in testing/learning stage, and
as far as I see it, the under payments are just a short payment to the
invoice, but with an overpayment, the system will only allow the amount
of the invoice to be applied and you would have to put the balance "on
account". In creating "on account" transaction it creates an
invoice/credit memo. Is there something in the system that you could put
detail information about that over payment. Any suggestions?




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[Non-text portions of this message have been removed]