In many organizations it has been observed that the customer raises a single payment against multiple invoices that has been already raised by the company to their customers.
Suppose a company has a recurring and loyal customer who unrolls for services provided by the company regularly. Hence, the company and customer have mutually agreed that its customer will make the payment of the invoices at month end or quarter end.
Now, when finance department will receive the payment of such customer then while making a receipt entry the user will have to apply all the invoices against which the payment is received.
Here, the user will have to apply each invoice one by one which is a time consuming activity and psychologically irritating task.
Sage 300 ERP facilitates auto application of multiple invoices against the payment. Let us see how we can achieve this.
While doing receipt entry, the user will just have entry the parameters which he normally selects while doing the receipt entry like Bank, customer, Payment code etc. However to auto apply invoice, the user will have to enter receipt amount click on “Auto Apply” check box and when you click on “Go” button you will pending invoice of customer getting automatically applied as seen in the below screen.
Please note that you also have 2 methods to apply the invoices:
• Prorate By Amount: Select this method to apply payments proportionately to all invoices, depending on their relative amounts.
• Top Down: Select this method to apply receipts automatically to invoices beginning with the first invoice until the receipt is fully applied.
Working in such smart manner will reduce our tasks and time.
1. Pending P/O Receipts Inquiry
2. Document Numbering for AR Misc. Receipt
3. Over Receipt Stock Report in 3 Way PO Matching for Sage 300 ERP
4. Reverse Receipt and Payment in Sage 300 ERP
5. Default settings for Receipts in Account Receivable in Sage 300 ERP