Understanding Standard Receipts

Using Standard Receipts Entry, you select the invoices that the receipt pays and select how to apply short payments or unearned discounts to the invoices that are specified on the receipt. This is the most common method of applying receipts and provides the most flexibility for receipt application.

You use type input (TI) codes to specify how you want the system to apply payment amounts. Based on the payment amount that you enter and the type input code that you use, the system can calculate write-off, chargeback, and deduction amounts, as well as determine whether discounts that are available are earned. You can also overpay invoices to generate a credit to the customer's account.

You enter receipts in batches, just as you enter invoices in batches. Depending on the settings of the Accounts Receivable constants, the system might display a batch control form for entering information about the batch, such as the number of transactions and total amount. To make the bank reconciliation process easier, you might want to group the different types of receipts into different batches.

Note: The system assigns a new batch number only when you exit the Work with Customer Receipts Inquiry form (not the Receipt Entry form) and reenter it. The status of the batch remains In Use until you exit the Work with Customer Receipts Inquiry form. The system assigns the batch type RB to all records that are generated by the receipts applications.

When you apply a receipt to invoices, the system creates one document to represent the receipt, which is stored in the Receipts Header table (F03B13), and one document for each invoice to which you apply the receipt, which is stored in the Receipts Detail table (F03B14).