By Larry Teren
Whether you review an AR Aged Trial Balance or your customer reviews the printed statement you sent them, it makes sense to make sure that payments and credit memos are applied appropriately to invoices. Why? You want the invoices to be aged properly.
Notice in the example below that there are three payment records that do not match an invoice number. We can use the SPLIT/REAPPLY feature in the HOLD/RELEASES routine to reassign part of any of these three payments to any of the invoices. Continue reading “How to Apply credit memo and deposits to invoices in Open Systems Accounting Software”