Understanding Simple Invoice Match (TI Code 10)

You use type input code 10 when the receipt pays all or part of the invoice and you do not want to specify manual write-offs, chargebacks, or deductions. The system automatically takes any discount that is earned (the G/L date is on or before the discount due date). You indicate how much of the invoice the receipt pays in the Payment Amount field. If you leave this field blank, the system pays the entire open amount of the invoice, up to the receipt amount.

After you enter receipts and drafts, you must post them to the general ledger:

• When you post receipt records, the system debits the bank account for the amount of the receipt and credits the A/R trade account that was used when the invoice was posted.

• When you post draft records, the system debits the draft receivables account for the amount of the draft and credits the A/R trade account that was used when the invoice was posted.