Payment Processing Overview P2

Option	Description	Typical Uses
Unapplied Cash	A payment that will remain on the Customer's account as an unapplied item. Manually applied by a User at a later time.	Typically used when a customer overpays an invoice or sends in a payment prior to an invoice being generated.
Advance Deposit	A payment received for an install to be performed	There must be a Job available on the customer's account to be able to select this option.
Late Fee	If Late Fees have been assessed on a customer's account, the payment may be applied to all or a portion of the total late fee.	Applies funds to a pre-defined Late Fee G/L Account Number. This account is defined in SedonaSetup / GL Account Defaults for AR.
Miscellaneous G/L Account	User selects the G/L Account to which the payment will be applied.	- Payment was received for a canceled account where the Invoices were previously written off. - Payment is received from a Non-Customer such as a Vendor rebate, insurance refund, etc.

The User Group Security may allow a User permission for entering payments but not depositing the cash into a bank account, if it is your company policy that one person enters payments and another person deposits the batch to the bank. A User Group may have permissions to perform one or both functions depending on your company policies and procedures.

Entering payments also has an impact on the Collections module. If the customer is currently in one of the Collection Queues, and the payment being entered takes the customer balance to an amount that no longer qualifies for collections, the customer is automatically removed from the Collection Queue when the payment is saved. Continue on to the next page for more information regarding Collections.