The Offsets Action allows you to mark as ”paid” or ”applied” invoices or unapplied checks that net to zero but do not have the same invoice number or check number. Invoices and unapplied checks that have been offset no longer appear on reports or statements. They, in effect, have a ”paid/applied” status. Invoices match against invoices and unapplied checks match against unapplied checks. This function also allows you to change “Payment” amounts (both debit and credit) to offset invoices then adjust any remaining amount based on the payments that were applied.
Repeat Steps 1 and 2 of Entering Cash Receipts.
Select Offsets from the Action drop-down list.
Key a valid Payer Code for which you want to offset invoices or unapplied checks
Key a Reference code to identify the invoices/checks to be offset.
Amount is not keyed.
Accept the default Date and Bank since this information is not applicable to offsets.
Click the Next icon to display the Offsets Header Window.
From the Action drop-down list, select either Select Invoices or Select Unapplied.
If you selected Select Invoices, click the Next icon to display the Limiter Window or click the Next By Pass Filter icon to bypass the Limiter Window and display the Cash Receipts Entry Select Invoices Window displays.
Offsets Select Invoices Window
Click in the Sel box next to each invoice you want to offset. The Remaining amount must equal zero.
To change payment amounts, we have opened the Payment fields located under the Payment column. Select the invoices you want to offset then apply full amounts or key partial amounts (both debit and credit) in the Payment field(s). As always, debit and credit payment amounts must net to zero. Any remaining amount will be adjusted based on the payments that were applied. Note: If a check is voided for invoices that were partially paid and then offsets were applied, the offsets as well as the original check will be reversed.
When finished, click the Save icon to return to the Header Window with information you selected.
If you selected Select Unapplied from the Header Window, the Cash Receipts Entry Offsets Window displays and includes all checks for the A/R client code specified that have an unapplied check amount.
Click in the Sel box Next to each check you want to offset. The Amt field in the top portion of the window displays a total of checks selected. The Remaining amount must equal zero.
When finished, click the Save icon to verify that the amount of the checks selected is equal to zero and return to the Header Window.
Verify information using the List to Verify option.
Post transactions using the Post Cash Receipts option. The posting function makes a debit and credit entry to client receivables for invoices if you selected Invoices from the Header Window or unapplied, if you selected Unapplied from the Header Window.
