Apply Payments From Finance Provider

Use this program to apply money received to outstanding finance receivables. If using the Auto-Pay Post Bank field in the Finance Provider Settings (Finance Provider file), transactions posted to Finance Receivables are assumed to be paid in full. Payments and customer returns are automatically applied and the transactions are therefore closed.

You can also use this process to post on-account monies and move on-account monies from one payment type to another. If not using the Auto Post option, you must run this program to apply the payments to open finance receivables.

Transactions can change in the time between when a process is entered and updates are saved. When saving, the system checks for transaction changes, particularly the application of on-account monies that are no longer available as well as cash applications in which the balance has changed to make the payment invalid. If found, the system brings you back into the process where you can make changes. Invalid transactions display as an alternate color in the grid.

This routine may be affected by Regional Processing restrictions. That is, you may not have access to all customers and locations.
STORIS does not permit an order reference number to appear multiple times in a single FR batch. Thus, for orders with multiple partial completions on the same date, the system assigns each additional partial to a succeeding date until all have their own FR batch date. When the date of each arrives, you can apply the money.

Selection

Enter the total dollar amount received from the finance provider. If entering money received from the finance provider and applying on-account monies (posted previously) or return monies, enter only the amount received from the finance provider. If applying money previously placed on account, or applying return amounts to debit transactions only, enter 0.00 in this field. The program displays the following warning:

Batch total is zero. Cancel Retry Ignore.

Select Ignore to continue.

Access to this field is affected by the Able to Change FR Check Amount in the Extended Security routine. Once you access the Apply tab, security restrictions to this field apply.

Use the options at this field to narrow the search for transactions to which this money is to be applied. You have the following options:

0=No - de-activates the Filter field.
1=Customer Code - searches by customer account number
2=Name - searches by customer name
3=Reference - searches by transaction reference number
4=Account Number - searches by finance/house account number (number assigned to customer by finance provider).

Once you have entered all the information required on the Selection tab of this screen, the Batch Selection Screen appears where you can select specific Batch ID's or select All batches. Completion of this screen activates the Apply tab.

If a large number of open batches exist, selecting all batches for a provider may take time to compile the list of information to present. If the number exceeds 1,000, you are presented with a message and you can either proceed or return to the Selection tab by clicking Cancel.

Apply

Use this field to indicate the transaction to which you are applying money. Enter the reference number or select a reference line from the grid by double-clicking the line. (Hint: If you are manually applying a credit to a completed order, select the credit line first, and then select the debit transaction to which you are applying the credit.)

If you click the Action button at this field, you can access options to place received money on account (Create OA), automatically pay transactions (Auto Pay All), and move on account money from one payment type to another (Move OA Money).

The grid contains the following columns:

Customer
Due Date
Amount
Transaction
Dispute
Amount Received
Adjustment Amount

When the grid appears, the Customer column displays either the customer name or the customer code, depending the Display Customer Name field in the Financing Control Settings. Also note that if set to display customer codes, the system displays on-account transactions as ON ACCNT.