QuickCash
QuickCash lets you enter and apply receipts quickly by only requiring you to provide minimal information. QuickCash also provides an extra level of control for entering high volume receipts because it does not immediately affect your customer's account. When you enter receipts and applications in a QuickCash batch, Receivables stores them in an interim table. After reviewing a QuickCash batch for accuracy, you run Post QuickCash to update your customer's account balances.
QuickCash lets you apply your receipts to one or many transactions, use AutoCash rules, place receipts on-account, or enter them as unidentified or unapplied. After you run Post QuickCash, Receivables treats the receipts like any other receipts; you can reverse and reapply them and apply any unapplied, unidentified, or on-account amounts.
You must batch QuickCash receipts. For receipt batches you enter in the QuickCash window, Receivables does not update the status, applied, on account, unapplied, and unidentified fields until you save the batch.
If you do not identify the customer for a receipt, Receivables automatically assigns the receipt a status of Unidentified.
Additional Information: You cannot add miscellaneous receipts to a QuickCash batch.
Bank Charges
The profile option AR: Create Bank Charges determines whether Receivables will consider bank charges and tolerance limits when applying receipts. When this profile option is set to Yes, both the Bank Charges and Tolerance Limit fields appear in the QuickCash window. However, whether you can enter values in these fields depends on the receipt's Application Type and creation status.
If you are applying a QuickCash receipt using an Application type other than 'AutoCash Rule' and the receipt creation status of the Receipt Class is 'Cleared,' Receivables lets you enter an amount in the Bank Charges field. (A receipt is created as Cleared if the Clearance Method of the receipt class is set to 'Directly.') The default amount of the Bank Charges Setup field is the value you entered in the Define Bank Charges window. This value is for informational purposes; it is used only when applying receipts based on AutoCash rules. See: Bank Charges.
When applying QuickCash receipts using an Application Type of 'AutoCash Rule', Receivables disables the Bank Charges field. For more information about how Receivables uses the Bank Charges and Tolerance Limit values to match receipts with invoices, see: AutoCash.
Prerequisites
Entering Quick Receipts
To create a batch of quick receipts:
1. Navigate to the Receipt Batches window.
To add receipts to an existing QuickCash batch, query the batch.
4. Enter the Receipt Number and the Receipt and GL Dates. The batch Deposit Date and GL Date provide the default Receipt and GL Dates, but you can change them.
5. Enter the receipt Currency (optional). The batch currency provides the default currency, but you can change it to any currency defined in the system if you have at least one remittance bank account whose Receipts Multi-Currency flag is set to Yes. See: Foreign Currency Transactions.
6. Enter the Amount of this receipt. If bank charges apply, enter the amount in the Bank Charges field. Receivables calculates the total amount as the sum of the net amount plus the bank charges.
7. Specify how to apply the receipt by choosing one of the following Application Types:
Auto Cash Rule: Apply receipts to this customer's transactions using AutoCash Rule Set defined for this customer's profile class. If this customer's profile class does not have has an AutoCash rule Set, Receivables uses the AutoCash Rule Set defined in the System Options window. See: AutoCash.
Single: Apply this receipt to a single installment. If you choose this option, you must also enter the transaction number to which you want to apply this receipt.
On-Account: Apply this receipt to a customer's account, but not to a specific transaction.
Unapplied: Mark this amount as Unapplied if this receipt is not applied to any transactions.
Unidentified: Mark this amount as Unidentified if this receipt is not associated with a customer.
8. Enter the Customer Name, Number, and Bill To Location for this receipt. When you enter the customer, Receivables enters this customer's primary Bill-To location, if one exists (you can change this value). If the system option Require Billing Location for Receipts is set to Yes, you must enter a Bill-To Location.
Suggestion: If you need to apply a receipt to debit items, but you do not know the customer's name, instead of entering an Application Type, first enter one of the debit item numbers in the Transaction Number field. When you do this, Receivables displays the name of the customer associated with this transaction. Then, enter the appropriate application type.
Attention: If you do not enter a Bill-To Location and the customer has no statement site, any unapplied or on-account receipt amounts will not appear on statements sent to this customer.
9. Enter the Payment Method and bank if they did not default from the batch information, or if you changed the receipt currency. You can only select payment methods that have remittance bank accounts assigned to them that have the same currency as the currency you specified for the receipt, or that have the Allow Multi-Currency receipt flag set to Yes.
10. If you are using manual document numbering, enter a unique Document Number. Otherwise, Receivables assigns a unique number when you save. See: Implementing Document Sequences.
11. Move to the next record and repeat the steps above for each receipt to add to this batch.
Applying a QuickCash Receipt to Multiple Transactions
You can apply a QuickCash receipt to several transactions by choosing an application type of 'Multiple'. You then select to which transactions you want to apply this receipt in the Applications window. Receivables does not actually update your customer's balance until you run Post QuickCash.
To apply a QuickCash receipt to several transactions:
1. Navigate to the Receipt Batches window.
4. Query or enter the receipts to apply, then choose Multiple.
5. Select the transactions to which you want to apply this receipt. You can apply receipts to transactions that have GL dates in future accounting periods and are in the same currency as the receipt. You can enter unrelated invoice numbers if the system option Allow Payment of Unrelated Invoices is set to Yes. The default amount applied depends on the value of the profile option AR: Cash-Default Amount Applied. See: Overview of Receivables Profile Options.
The default Discount Taken is the earned discount amount available for this application, unless the system option Allow Unearned Discounts is set to Yes. In this case, the default is the amount of the discount that, along with the application, would close this item (as long as the discount amount is not greater than the maximum discount allowed for the transaction). See: Discounts.
See Also
Post QuickCash
Post QuickCash Execution Report
Receipts Field Reference
Bank Charges
Perform all required set up steps preceding receipt entry. See: Entering Receipts.