Apply Balance of Receipt To

  • Oldest Invoices – Select this option to have the system automatically apply the payment to the oldest invoice. If the payment is greater than the invoice amount, the system applies the balance to each subsequent invoice until the applied amount matches the payment amount. If the system applied payment to any transaction that you did not want paid, override the automatic payment by selecting the desired transaction and entering zero amounts where applicable. Reapply the rejected amount to another invoice for that customer. If there are no remaining invoices, you may apply the payment on account until applying it to a specific invoice later.

  • On Account – Select this option to have system apply payment to the account balance rather than specific invoices. Use this type of payment for customers with a Balance Forward account. However, you might also use this when the receiving a payment for an unknown application, or if the payment is a deposit against future invoices. In this case, change the payment transaction at a later date (assuming the month is still open. If the month is closed, add the transaction in a current month with a total check amount of zero, posting offsetting amounts to the on account payment. Discounts and taxes can also be taken/paid with this type of payment.

  • By Invoice No - Start at First Open Invoice – Select this option to have the system apply payment beginning with the first open invoice and continuing until payment has been completely applied. This method applies payment by invoice number.

  • By Invoice No - Start at Invoice – Select this option to have the system apply payment starting with a specified invoice (to the right) and continuing until payment is fully applied.

  • By Customer Job (Material Sales invoices only) - Select this option to have the system apply payment to a selected customer job (specified to the right). When you click the Initialize button, the AR Initialize Receipts by Job form displays, showing all of the invoices that apply to the customer job. You can then indicate which invoices you want paid and the system applies payment accordingly.

Note: This feature is only available if you have set the Invoice Level for the specified customer to “One Invoice per Customer and Job” in AR Customers.
  • Don’t Initialize - Select this option if you want to manually select and apply payment to invoices.