DBD: Cash Receipts - Transfer Money On Account
DBD: Cash Receipts - Transfer Money On Account Between Customer Accounts
🔵 Overview Transfer Money on Account under one customer to pay off invoices under another Customer Account. This is done through cash receipt entry.
You can either add this to an existing deposit or, if this is the only function that needs to be done, you can set up a new deposit for these types of offsets.
💡 Note: If you are creating a new deposit, then the deposit amount will be $0 (zero).
Step 1: Apply the Amount to the Correct Customer
Call up the customer that you need to pay, enter the check number again as your reference number. At the amount, enter the amount of the check to be distributed. Then proceed with distributing the amount to the proper invoice — the action will be 'Normal'.
Step 2: Reverse the Amount From the Incorrect Customer
Enter the customer number that the cash was incorrectly applied to. Use the same check number as your reference number. At the Amount, enter a negative dollar amount as the check amount.
If this is a situation where this balance is shown as an ONACCNT Balance, then you will click 'Use OnAccount'. This will offset the amount that has previously been posted to this customer.
If this value is out there as a credit invoice rather than an ONACCNT Balance, you will return until you can enter an invoice number, then enter the credit invoice number — the action will be 'Normal' — then click OK.
When deposit entry is complete, print your Cash Receipts Journal, verify data and update.
Frequently Asked Questions
Q: What is this procedure used for?
A: Transferring money on account under one customer to pay off invoices under another customer account, done through Cash Receipts entry.
Q: What deposit amount do I use if I'm setting up a new deposit just for this?
A: $0 (zero) — if this offset is the only function being done in this deposit.
Q: How do I offset an ONACCNT balance versus a credit invoice?
A: For an ONACCNT balance, enter a negative check amount and click 'Use OnAccount' to offset the previously posted amount. For a credit invoice, return until you can enter an invoice number, then enter the credit invoice number with an action of 'Normal' and click OK.
Q: What reference number should I use on both entries?
A: Use the same check number as your reference number on both the correct customer's entry and the incorrect customer's reversing entry.
Tags: cash-receipts, transfer-money, on-account, credit-invoice, DB-distributor