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FrontAccounting forum → Accounts Receivable → After Receiving Payment What is next step till finalization?
You have to open Customer Allocations and allocate the payment to related invoice. If there was nothing sold to this customer yet, the payment have to wait for next invoice to be allocated to.
Janusz
I guess, what is meant by poornima is, for any case where payment is entered in system but not yet realized. For example the payment is received as a cheque, one will make entry as customer payment but cheque may not get realized and it could get bounced resulting in no payment !
How to handle such cases is question here !
I guess cheques should not be allocated until it is realized, as after allocation the AR account for customer is updated. They should be posted to separate cheque account, waiting for realization.
Janusz
FrontAccounting forum → Accounts Receivable → After Receiving Payment What is next step till finalization?
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