How a transaction is posted depends on the method used to enter the transaction:
Transactions entered manually via the Balances tab are generally posted immediately in real time. The only exception are transactions which are blocked.
Account Type | Account Transactions | Remarks | |
Account Balance | Invoices | Posted when invoice is approved | |
Payments | Posted immediately, unless entered as ‘blocked’ or part of an open controlled batch | ||
Adjustments – Credits & Charges | Posted immediately, unless entered as ‘blocked’ | ||
Adjustments – Write-Offs | Posted immediately, unless entered as ‘blocked’ | ||
Adjustments – Disputes | Posted immediately | ||
Payment Reversals | Posted immediately | ||
Bill To Account | Posted immediately | ||
Deposit Paid | Posted immediately | ||
Interest Paid | Posted immediately | ||
Deposit & Interest Returned | Posted immediately | ||
Store Credit | Store Credit Tendered (Credit) | Posted immediately | |
Store Credit Tendered (Debit) | Posted immediately | ||
Payments entered through controlled batches are posted after the batch is closed, if the Do not post payments until the batch is closed check box is checked when the batch is created. This posting occurs at the next scheduled posting time.
By default, this job is scheduled to run at 12:00 AM each day. The scheduled run time may be changed if necessary. Batch posting audits the posting of account transactions within the last two months and re-posts any accounts that need to be re-posted because of changes made to the underlying transactions. Batch posting also posts any account transactions that for any reason had not been posted previously, for example invoices that were just approved for posting.
Once a transaction has been posted to the account, it cannot be edited. Only blocked payments or adjustments, or payments that are part of an open controlled batch (that specifies Do not post payments until the batch is closed) may be edited. If a transaction is entered in error, an offset or reversal transaction must be created to fix the error.
Payment Allocation Methods
Payments are allocated according to one of two allocation methods:
Invoice Category, then Invoice Number
Invoice Number, then Invoice Category
Invoice number is a sequential number which indicates the relative age of an invoice. When payments are allocated by invoice number, payments are applied to the oldest invoice first.
Invoice Categories are a means of grouping and prioritizing related cost-generating items for the purpose of allocating payments. Invoice Categories are defined in the Admin Console Data Management application. All revenue-generating items in the IDI platform including Product Catalog items and usage types are assigned an Invoice Category. Invoice Categories are prioritized according to the sequence number specified in the Accounts Receivable Group detail view in Data Management. When payments are allocated by Invoice Category, payments are applied first to the Invoice Category with the lowest sequence number (where 1 is the lowest).
Individual customers are assigned to an Accounts Receivable Group which relates one of the two allocation methods to the customer. Accounts Receivable Groups are also defined in the Admin Console Data Management application.
Note: The payment allocation can be overridden on a per-payment basis.
Whether you use Invoice Category, then Invoice Number or Invoice Number, then Invoice Category, both criteria work in tandem:
Invoice Category, then Invoice Number
Invoice Number, then Invoice Category
Note: For more on invoice categories, refer to that topic in the Admin Console > Data Management help.
Payment Allocation Override
Occasionally, a customer may want a specific payment to be allocated differently. In this case, the predetermined allocation method can be overridden. When you override a payment allocation you may choose to apply the payment to a specific Invoice Number and/or specific Invoice Categories. When you select Apply to Invoice Number, the payment is allocated to that invoice based on the Invoice Categories sequence as set up in Data Management. If the payment amount is more than the invoice's balance, the remainder of the payment is allocated to past-due invoices.
Adjustment Allocation
Adjustments are applied either to debt or to the current balance only. This is based on the Adjustment Type and the Adjustment Invoice Category with its associated Invoice Category sequence as set up in the customer's Accounts Receivable Group Details.
The following table summarizes the Adjustment Allocation process.
Accounts Receivable Group - Allocation Method | |||
|---|---|---|---|
Adjustment Type(s) | Invoice #, then Invoice Category | Invoice Category, then Invoice # | |
Is a Charge only (Adjustment is a debit, i.e., the adjustment amount is added to the customer’s account balance.) | The Adjustment amount is added to the current Invoice # using the Invoice Category as set up in the Accounts Receivable Group. This assumes that there are no credits to offset this debit. | The Adjustment amount is added to the current Invoice # using the Invoice Category as set up for the Accounts Receivable Group. This assumes that there are no credits to offset this debit. | |
Is a Charge Apply to Debt (Adjustment is a debit, i.e., the adjustment amount is added to the customer’s account balance.) | The Adjustment amount is added to the current Invoice # using the Invoice Category as set up in the Accounts Receivable Group. This assumes that there are no credits to offset this debit. | The Adjustment amount is added to the specified Invoice Category in the current Invoice #. This assumes that there is no Credit balance. | |
Not apply-to-debt; Not a charge (Adjustment is a credit, i.e., the adjustment amount is subtracted from the customer’s account balance.) | The Adjustment amount is subtracted from the selected Invoice # using the Invoice Category as set up in the Accounts Receivable Group. If the adjustment amount is greater than the Invoice balance, the remainder is applied to the current Invoice # using the Invoice Category as set up in the Accounts Receivable Group. | The Adjustment amount is subtracted from the specified Invoice Category in the current Invoice #. If the adjustment amount is greater than the Invoice Category balance, the remainder is applied to the current Invoice # using the Invoice Category sequence as set up in the Accounts Receivable Group | |
Note: For more on account types and account receivable groups, refer to the respective topics in the Admin Console > Data Management help.