Fast Cash Receipts Posting enables the posting of cash receipts, credit memos, and on accounts from one customer to the invoices of another. Whereas cash posting and application was "customer specific" in Cash Receipts Posting, in Fast Cash Receipts Posting, any invoice may be paid with any check, credit memo, or on account, regardless of the customer who generated the check, credit memo, or on account.

For example, a corporate office may issue one check to be applied to invoices billed to several different branch locations, each with a different customer number. In Cash Receipts Posting, the check would have to be manually split out to apply to the different accounts. In Fast Cash Receipts Posting, the check may be entered in total and applied to all invoices and all customers in one screen.

Fast Cash Posting

The information in the header of the Fast Cash screen must be entered completely.

Bank Code. Enter the bank code for the cash account to be affected by the cash receipt. The system will verify that the bank code entered is correct

Branch Code. Enter the branch code for the cash receipt.

Customer Number. Enter the customer number of the customer that generated the check, credit memo, or on account.

Check Number. In this field, there are three options. The prompt will read Enter Check Number to Distribute, N=Non-Cash Transactions Only, Spacebar=Apply Cash On Account, F4=End.

Check Number.  To post cash payments to a customer, or customers, account, enter the check number in this field.  The check amount will display in the Balance to Apply field.  After the header fields have been completed, the cursor will rest in the Invoice field below the lines.

N=Non-Cash Transactions Only.  To apply the credit memo from one customer to another customer's invoice, enter "N".  The cursor will immediately move to the Invoice field below the lines.  The Balance to Apply field will display .00. 

Spacebar=Apply Cash On Account.  To apply an On Account from one customer to another customer's invoice, press Spacebar.  This will display a window titled O/A's for XXXXXX.  Select the O/A to apply be entering the sequence number to the left of the O/A.  The Balance to Apply field will display the amount of the O/A selected.  In this case, the customer number must be the customer who presently has the O/A on their account.  The cursor will move to the Invoice field below the lines. 

Reference.  This field will only prompt when a check number is entered into the Check Number field.  This may be used to enter a reason for the cash receipt.  We suggest this field be used to enter the invoice numbers the cash receipt is paying. 

Amount.  This field will prompt only when a check number is entered into the Check Number field.  Enter the gross amount of the check received that is to be applied to invoices.  The balance entered will appear in the Balance to Apply field.  REMEMBER:  The check received may also have customer prepayments included in the total.  Customer prepayments are not entered through Fast Cash Receipts Posting. 

Check Date. Enter the check date or the date the fast cash postings occur.

After the header information is entered, the system will prompt Is Check Information OK? (Y/N). Visually verify to ensure that the information entered is correct. If the information is not correct, enter "N". The cursor will return to the Bank Code field. Press enter until the cursor is in the field to correct. The Amount field will need to be reentered even if the original entry was correct. When the information is correct, enter "Y". The cursor will move to the Invoice field below the header.

Check Number Entered

For postings due to receipt of a check, the cursor will be in the Invoice field below the lines. 

Invoice.  Enter the invoice number that the check is to pay.  The invoice number usually may be taken from the remittance advice sent by the customer.  It is not necessary to know which customer presently "owns" the invoice.  The system knows.  By entering the invoice number, the system will automatically display the customer number of the customer to whose invoice the payment will be applied.  The Cust # field is not maintainable without changing the invoice number in the Invoice field.

For payments received without a remittance advice, or any other list of invoices being paid by the check, enter "?" in the invoice field.  This will display the Open Invoice Inquiry window.  In the window, enter the customer number who may own the invoice.  The open invoices for this customer will display in a list.  Select the invoice to be paid by highlighting the invoice number using the arrow keys to the right of the main keyboard.  Once highlighted, press Enter.  The invoice number will be imported to the Invoice field.

After searching the list displayed in the Open Invoice Inquiry window and not finding the invoice the customer is paying, enter "C" to change customer numbers.  It may be easier, depending on the number of associated customers, to manually split out the check received before entering Fast Cash Receipts Posting.  It is possible to view all invoices open in the system.  To list all invoices for all customers, press Spacebar.

N=Non-Cash Transactions Only

Credit Memos

To apply credit memos from one account to the invoices in another account, enter "N" in the Check Number field.  The cursor will immediately move to the Invoice field below the lines.  Enter the invoice number to which the credit memo is to be applied.  The system will automatically display the customer number whose account presently holds the invoice.  The cursor will be in the TYP, or Type field.  To display a list of possible transaction types, press F2.

Enter the transaction type by highlighting the type using the arrow keys to the right of the main keyboard.  The transaction type for this operation is CMA.  The transaction type may also be entered through the keyboard by simply entering "CMA". 

The system prompt will read Enter Credit Memo Source Customer,  ?=Display, Spacebar=All.  The customer number entered in the header will default to the prompt.  Enter the customer number of the customer on whose account the credit memo is presently held.  To display a list of all customer in the system, enter "?".  Select a customer by entering the sequence number to the left of the customer number.  A list of all open A/R credit memos may be displayed by pressing Spacebar.  Select a credit memo to apply by entering the sequence number to the left of the customer number shown. 

Once the credit memo is selected, the balance of the credit memo will appear in the Amount field.  The balance of the credit memo shown will not exceed the invoice balance shown.  For credit memos with a balance greater than the balance of the invoice, the remainder of the credit memo will remain with the source customer.  Press Enter to apply the credit memo balance shown to the invoice displayed.  The cursor will return to the Invoice field.

Writing off a portion or all of an invoice

To write off all or part of an invoice, enter the invoice number in the Invoice field.  With the cursor in the TYP field, display the possible transaction types by pressing F2.  Use the arrow keys to highlight G/L and press Enter .  The cursor will be in the Amount field.  Enter the amount of the invoice to be written off on this transaction.  Enter the amount as a positive number, debit, as the system will change the sign automatically. 

The system will them ask for the entry of the General Ledger account number to which the amount to be written off will be charged.  Enter the General Ledger account number and press Enter.  To display a list of General Ledger accounts when the appropriate account is not known, enter "?" to display the entire list or enter the first couple digits of the account number to display a partial list.  Select the account to be charged by entering the sequence number to the left of the account number.  The cursor will return to the Invoice field.

Entering an Internal Debit or Credit Memo

To enter a debit memo to increase the balance of an invoice or a credit memo to reduce the balance of an invoice without entering an order through Order Entry, enter the invoice number to be increased or decreased in the Invoice field.  With the cursor in the TYP field, display the possible transaction types by pressing F2.  Use the arrow keys to highlight D/M to increase the invoice balance or C/M to decrease the invoice balance.  Once highlighted, press Enter.

To increase the balance of an invoice, select D/M as the transaction type.  The cursor will move to the Amount field.  Enter the amount by which the invoice is to be increased.  Enter the number as a positive, debit, number.  The system will then prompt for the entry of the General Ledger account number to which the debit memo amount will be charged.  Enter the General Ledger account number.  To display a list of all General Ledger account numbers, enter "?" and press Enter.  To display a partial list, enter the first couple digits of the account number and press Enter.  Select the account to which the debit memo will be charged by entering the sequence number to the left of the account number.  The cursor will return to the Invoice field.

To decrease the balance of an invoice, select C/M as the transaction type.  The cursor will move to the Amount field.  Enter the amount by which the invoice is to be decreased.  Enter the number as a positive, debit, number.  The system will change the sign of the amount entered automatically to a credit amount.  The system will then prompt for the entry of the General Ledger account number to which the credit memo will be charged.  Enter the General Ledger account number.  To display a list of all account numbers, enter "?" and press Enter.  To display a partial list, enter the first couple digits of the account number and press Enter.  Select the account to which the credit memo will be changed by entering the sequence number to the left of the account number.  The cursor will return to the Invoice field.

Spacebar = On Account

To apply the On Account located in one customer's account to an invoice in another customer's account, press Spacebar in the Check Number field.  This will display a window titled O/A's for XXXXXX.  This window is a list of all of the On Accounts present on the account of the customer whose customer number is shown in the Customer # field.  It is imperative that the customer number displayed in the Customer # field be the customer who's On Accounts are to be applied, not the customer whose invoices are to receive the On Account amounts. 

Select the On Account to apply by entering the sequence number to the left of the On Account.  The On Account amount selected will appear in the Balance to Apply field and the cursor will move to the Invoice field.

To apply this On Account to an invoice, follow the instructions as described in the section titled Check Number Entered. 

The On Account may have a balance greater than the invoice to which the On Account was applied.  In this case, press F4 after applying the On Account amount to the invoice.  This will bring the modification prompt to the bottom of the screen.  Press F4 again to display the Quit Posting (Y/N) message.  To quit posting, enter "Y".  This will display the Distribute Unapplied Cash window.  The window prompt gives two options as to how to handle the balance left in the Balance to Apply field.  The balance may be written off to the General Ledger or the balance may be returned to the customer's account as an On Account. 

To write off the On Account to the General Ledger, enter "W" in the Distribution Type field.  Enter the General Ledger account to which the remainder of the On Account is to be written off in the G/L Account field.  Enter the amount of the On Account to be written off in the Amount field.  The balance in the Balance to Apply field will default to the Amount field.  This amount may be overwritten.  This would cause the system to redisplay the Distribute Unapplied Cash window for further distribution of any balance remaining in the Balance to Apply field.

To apply the unapplied cash back to the customer's account as an On Account, enter "O" in the Distribution Type field.  The system will bypass the G/L Account field.  The balance of the Balance to Apply will default to the Amount field.  This amount may be overwritten.  This would cause the system to redisplay the Distribute Unapplied Cash window for further distribution of any balance remaining in the Balance to Apply field. 

Once all unapplied cash has been distributed to either the General Ledger or to the customer's account as an On Account, the cursor will return to the Check Number field. 

Modifying Previous Postings

There are times in which the postings appearing on the screen need to be modified.  The cursor will be in the Invoice field and the Balance to Apply will read .00.  Press F4 to display the modification prompt.  The first posting line will be highlighted.  The system prompt will read Enter=Select, A=Add, D=Delete, F4=End.  To simply modify a line displayed on the screen, highlight the posting line to be modified or changed and press Enter.  Continue to press Enter until the cursor is in the field to be modified or changed.  Enter the modification or change and press Enter until the above prompt redisplays.  Continue until all needed modifications and changes have been completed.

To add a line of distribution to invoices, enter "A".  The cursor will return to the Invoice field and an additional line of distribution to invoices may be entered.  This prompt is usually used after a line of distribution has been deleted, or when the Amount field has been modified.

To delete a line of distribution to invoices, highlight the line to be deleted using the arrow keys and enter "D".  The system will prompt Verify Delete (Y/N)? in a black window at the bottom of the screen.  To proceed with the deletion, enter "Y".  MAKE SURE THE LINE HIGHLIGHTED IS THE LINE TO BE DELETED AS THERE IS NO MECHANISM TO BRING THE LINE BACK SHORT OF REKEYING THE LINE.  To discontinue the deletion, enter "N".  The above system prompt will return. 

Completing Fast Cash Postings

When no further modification, addition, or deletion is necessary for this cash receipts posting, press F4.  The message Quit Posting? (Y/N) will display at the bottom of the screen.  To continue modification, addition or deletion of the distribution lines, enter "N".  The system prompt for modification, addition, or deletion will return.  To end this posting, enter "Y".  The cursor will return to the Check Number field in the header.  Enter a check number or operation to continue posting for this customer, press F4 to return to the A/R menu, or the up arrow to return to the Customer # field.  To continue postings for additional customers, enter the customer number and continue as described above.

Remember that due to the financial nature of this operation, a Cash Receipts Register must be printed, audited, and, if correct, updated.  The register for cash receipts will look a little different than the register received from Cash Receipts Application.  You may notice customers with cash received and no A/R transactions.  You may notice customers with no cash received and A/R transaction amounts.  On Accounts may show a debit for one customer and an A/R transaction amount for another, etc.  As long as the report totals balance, the register may be updated.

It is suggested that all Fast Cash Receipt Posting transactions be registered and updated before any Cash Receipts Application transactions are entered.  The order may be reversed but the suggestion remains the same.  No Cash Receipt Register should have a mixture of Fast Cash Receipts Posting and Cash Receipts Application.  The two operations should be kept separate.

We do have clients that do not use Cash Receipts Application for any receipts from any source.  Every cash receipt is entered through Fast Cash Receipts Posting.  We suggest you become proficient at Fast Cash before transferring all operations away from Cash Receipts Application.