You can transfer payments from one order or invoice to another using the Transfer Payment action. When using this action, transferred payments are connected to a receivable transaction type which creates journal entries that reflect the movements of the payments and deposits on the General Ledger and the customer’s AR ledger.
The order you want to move a payment to must already exist before you transfer the payment.
Transfer Payment also has the benefit for GL users of allowing the transfer to be pulled and recorded into the GL, but it is not a requirement to own the GL to use Transfer Payment.
To transfer a payment:
- Click the Accounts button. The Accounts screen opens.
- Select the account with the payment/deposit.
- Right-click and select View -> Receivable Ledger. The Receivable Ledger screen opens.
- Select the Receivable Ledger tab.
- Right-click the deposit or payment to transfer.
- Select Tools -> Transfer Payment. The Transfer Payment screen opens.
- Enter the following information:
- Date - Date for the transfer. Defaults to today's date.
- To Account - Destination account for the payment. Defaults based on the selected order/invoice.
- To Order - Destination order for the payment.
- To Invoice - Destination invoice for the payment.
- Amount - Amount to transfer. Defaults to the payment amount.
- Transfer From Type - Receivable transaction type for moving the payment from the existing order/invoice.
- Transfer To Type - Receivable transaction type for moving the payment to the new order/invoice.
- Note - Additional information about the transfer.
- Click OK.
If you select Deposits or Payments as the Transfer From Type and Transfer To Type, you can see the transactions in the Cash Receipt and Reconciliation screen. You can batch the payments as usual and send them to the General Ledger.
If you select Adjustments as the Transfer From Type and Transfer To Type, you can see the transactions in the adjustment journal entry.
Receivable Transaction Types Recommendations
Create the following receivable transactions types in the Receivable Transaction Types screen.
- If using deposits, create an Event Deposit receivable transaction type called Deposit Transfer Between Orders. This transaction type should debit and credit the same GL accounts as all other deposit transactions except rather than debit a cash account, select the Transfer Clearing Account GL account. Be sure to check the Transfer to GL checkbox for the receivable transaction type.
- If using payments, create an Event Payment receivable transaction type called Payment Transfer Between Orders. This transaction type should debit and credit the same GL accounts as all other payment transaction except rather than debit a cash account, select the Transfer Clearing Account GL account. Be sure to check the Transfer to GL checkbox for the receivable transaction type.
Transfer Payment Security
Transferring payments is controlled by the Add/Change Payments - Post Cash Receipt Batch access privilege. Users and/or roles assigned to the privilege can transfer payments. Any users not assigned to the privilege are not able to transfer payments. If no users are assigned to the privilege, it is considered inactive and all users can transfer payments.
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