Processing unapplied cash normally involves the matching of unapplied cash to invoices and results in an adjustment to receivables other than a cash entry. The transactions alter the unapplied balance of the client and paid balance of invoices. With this option you process unapplied cash to invoices by identifying the unapplied check number and amount from the Aged Trial Balance or by viewing client unapplied amounts. Unapplied cash may be applied to invoices, or to interoffice cash (depending on how your company was installed, interoffice cash may not be an available for use). After you update the information, the unapplied check is marked as ”fully,” or in some cases ”partially,” applied to invoices. The system allows for partially applying unapplied checks, leaving a balance in the unapplied account for that Payer Type.
Follow Steps 1 and 2 of Entering Cash Receipts.
From the Action drop-down list, select Match Unapplied.
Key or select a Payer code.
Select the Reference code that applies to the unapplied payment.
The Amount, Date and Bank Code default from the selected Reference code.
Click the Next icon to display the Match Unapplied Window.
Select the applicable Action. Unapplied cash may be applied to invoices or to interoffice cash.
Click the Next icon.
If you selected ”Select Invoices” from the Action drop-down list, the Select Invoice Window displays as described in Enter Cash Receipts.
If you selected ”Input Invoices” from the Action drop-down list, the Input Invoices Window displays. See Input Invoices.
If you selected Input Interoffice from the Action drop-down list, the Input Interoffice Window displays. See Entering Interoffice Client Cash.
Click in the Sel box next to the invoice to which you want to match unapplied cash. (Sel box only available with Input Invoices and Select Invoices) The Remaining amount must equal zero on the Header Window. To save the transaction as incomplete, click <Save as Incomplete>. This function allows you to save the transaction with a remaining amount.
When finished, click the Save icon to return to the Match Unapplied Header Window.
Click the Save icon again to save your entries and return to the Enter Cash Receipts Window where you can select another Action, if applicable.
Verify information using the List to Verify option.
Post transactions using the Post Cash Receipts option.