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Apply Sales Transactions

Cash receipts and sales credit memos can be applied to receivables.

When you post an invoice to a customer account, a customer ledger entry (a debit entry) is created with a check mark in the Open field.

The Open field is used to determine which entries are included when the Balance Due field on the customer card is calculated and when finance charges for customers are calculated.

When you post a cash receipt or a sales credit memo (a credit entry), you can apply it to one or more specific debit entries. The debit entries are either completely closed and the check mark in the Open field is removed, or the entry is partially closed and the check mark remains.

It is important to apply and close entries to obtain correct customer statistics so that account statements and finance charges can be calculated correctly.

If the Application Method field on the Payments FastTab on the customer card contains Apply to Oldest, you can manually apply a payment to the customer. If you do not specify what the payment should be applied to, it will automatically be applied to the oldest open credit entry.

If the application method for a customer is Manual, you must apply entries manually.

You can record the application at the same time as you post a cash receipt, or you can apply entries to each other in a separate process.

The following table describes a sequence of tasks, with links to the topics that describe them. These tasks are listed in the order in which they are generally performed.

To See

Apply a journal, a purchase document, or an already posted customer ledger entry to one or more customer ledger entries.

How to: Apply Customer Ledger Entries

Apply a receipt in one currency to a sale in another currency.

How to: Apply Customer Ledger Entries in Different Currencies

Reopen closed entries and make correcting entries.

How to: Unapply Applied Customer or Vendor Ledger Entries

See Also

Tasks

How to: Allow for Application of Customer Ledger Entries in Different Currencies