Receipt-to-Receipt Applications

You can apply an open receipt against another open receipt.

You apply a receipt against another open receipt in order to move funds between receipts. Open receipts include receipts that have either unapplied cash or on-account cash. You can then apply the resulting unapplied receipt balance to a transaction.

To use receipt-to-receipt applications, you must set up a clearing account under the Receivables activity Payment Netting to manage the offset of the one receipt against the other.

Both receipts in a receipt-to-receipt application must be in the same currency. If both receipts are in a foreign currency, the result of the receipt application may be an exchange gain or loss. The exchange gain or loss is realized on the target receipt at the time of receipt application. If you later adjust the conversion rate on either receipt, the accounting is rederived using the adjusted conversion rate.

You can unapply a receipt that was applied to another open receipt, provided that neither receipt is drawn negative by unapplying it.