Accounts Receivable Unapplied Cash & Credits
Unapplied Cash & Credits Overview
SedonaOffice offers two methods of applying Unapplied Cash, Unapplied Credit Memos or Advance Deposits to your customer invoices. The first method is to open a Customer Explorer record and apply unapplied amounts to the customer invoices. The second method is to use the Unapplied Cash/Credits form found with the Accounts Receivable menu options from the main application menu tree. Both methods will be covered in this section.
Unapplied Cash
Unapplied Cash may be applied to one or more items on a customer account. For example, a customer check is received with an overpayment amount of $2.00. When the User is processing the payment, the excess amount is applied to the customer’s Unapplied Cash option. If the customer cancels while and there is still the $2.00 remaining in unapplied cash, a User may apply this amount as a Refund Check to the customer or transfer the funds to a Miscellaneous G/L account. Unapplied Cash may be applied to one or more of the following items:
· Customer Invoices with a balance due
· Advance Deposit (the customer must have a Job in an open status for this option)
· Miscellaneous G/L Account
· Refund Check