Applying Payments to an A/P Invoice (Warranty Interface)
Applying Payments to an A/P Invoice (Warranty Interface)
Notes & Hints:
This function interfaces Accounts Payable to Accounts Receivable. A boat, motor, or trailer manufacturer can be both a customer (you bill them for warranty work orders) and a vendor (they bill you for inventory purchased). When the Vendor and Customer Files are linked, you can apply credits from A/P to invoices in A/R, and apply payments in A/R to credits that exist in A/P. An example is described below.
-
Click in the Action column and select Apply Invoice from the drop-down menu. Next, click in the Document field and press A/P Transactions F9 from the Command Panel to list the open A/P Debit memos for this vendor/customer; a window will pop up which will allow you to select the debit memo(s) you want to apply from Accounts Payable. Once you have made your selections, press the Save button in the Command Panel of the pop-up window.
-
You can apply this payment to any number of A/P Debit Memos. The only limitation is that the amount applied cannot exceed the debit memo amount.
-
If the A/P Invoices selected total more than the A/R receipt, the remaining A/P invoice balance will be turned into an A/R item and removed from the A/P file.
For example, you have $1,000.00 worth of credit memos sitting on Mercury Marine’s vendor file. You decide to have Mercury Marine send you a check for $1,000.00 to cover the credits.
- Enter the $1,000.00 check through Accounts Receivable.
- At the Document prompt, press F9 - A/P Transactions and to list the A/P Debit Memos; select the $1,000.00 worth of debit memos.
- Post as usual.