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Definition: What is it?

The Invoice Applications sub menu is where payments that have been made (or received) can be linked or allocated to an invoice. The phrase 'applying' an amount to an invoice is often used to describe this.

NOTE: General Ledger accounting transactions are generated during the payment application process but unless your GL is setup with Unapplied Cash and Applied Cash accounts - I'm not sure that there will be any true accounting impact. In the Sales Order process the accounting transaction generated the following GL Accounting transaction is generated for 'Payment Applied'To do

What is it used for?

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This is used to link payments to invoices. It is also used to allocate which part of a payment is allocated or applied to a specific invoice. This is extremely useful if your customers pay multiple invoices with a single payment.

Example:

• A customer could send a single payment of $1000 that can be used to pay for two invoices (eg $400 and $600)
• Using this applications sub menu allows you to allocate part of the $400 to one invoice and the balance ($600) to the other invoice
  
  
  

What's on the screen?

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