Credit a Finance Charge

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Use this procedure to apply a cash, credit card, or ACH payment receipt toward a finance charge previously issued to a customer. For more information, see Miscellaneous Cash Receipts.

To credit a finance charge

  1. Select Accounts Receivable Main menu > Cash Receipts Entry. If you have batch processing enabled, the Cash Receipts Entry Batch window appears. Enter the batch number and click Accept.

  2. In the Cash Receipts Deposit window, enter the deposit number, description, bank code, and deposit date. For more information, see Cash Receipts Deposit - Fields.

  3. Do one of the following depending on the payment type.

    If you are applying a cash payment:

  1. In the Cash Deposit Amount field, type the amount of the check and click Accept.

  2. In Cash Receipts Entry, enter the customer number and select Cash in the Deposit Type field.

  3. Enter the check number. For more information, see Cash Receipts Entry - Fields.

If you are applying a credit card payment:

  1. In the Credit Card Deposit Amount field, type the amount and click Accept.

  2. In Cash Receipts Entry, enter the customer number and select Credit Card in the Deposit Type field.

  3. Enter the credit card entry number for this receipt.

If you are applying an ACH payment:

  1. In the ACH Deposit Amount field, type the amount and click Accept.

  2. In Cash Receipts Entry, enter the customer number and select ACH in the Deposit Type field.

  3. Enter the ACH payment entry number for this receipt.

  1. Click the Lines tab.

  2. In the Invoice No. field, enter the finance charge number. This number must have a suffix of –FC and must exist in the Open Invoice file.

  3. You can then distribute all or any portion of the posting amount to the finance charge.

  4. If you are applying a credit card or ACH payment, click the Payment tab and enter the customer's payment information.

  5. Click Accept.

  6. Click the Print button to print the Cash Receipts Journal and update the Daily Transaction Register.

The payment receipt is credited to the finance charge.