Cash Receipt

cash receipts are used to complete the following activities enter and apply a check or cash receipt enter, apply and post a credit card receipt apply unapplied cash receipts or credits gravity supports 2 methods for entering cash receipts undeposited funds using the undeposited funds method, cash receipts are entered and posted individually to an account representing funds received but not deposited after the funds are received they are assembled into a deposit ticket and posted to the appropriate cash account deposit ticket as part of entering a cash receipt a deposit ticket is created multiple cash receipts will be entered into one deposit ticket the deposit ticket is then posted to the selected cash account select undeposited funds when you are using credit cards or don't know how the individual cash receipts are assembled into a bank deposit select deposit ticket when the primary source of cash receipts are received as cash or checks and assembled into a bank deposit a selection for each entity is made in the entity configuration see entity configurations docid 3fwr1hzzxzpgbmcii10vl access cash receipts functions from the financials, revenue options process steps undeposited funds enter a check or credit card process to enter a check or credit card in gravity apply unapplied payments and credits process to apply unapplied payments and credits in gravity summary undeposited funds summary window for undeposited funds in gravity customer id select a customer use the in line search capability or the drop down search box selecting a customer retrieves the customer’s defaults customer name the customer name displays confirming the customer selection select from invoice use this option to use an invoice number to find the associated customer id apply to multiple entities by default the cash receipt only displays invoices for the active entity set this flag to yes, and gravity allows one cash receipt to be posted to invoices from multiple entities multi entity settings must be in place to use this feature gravity will relieve the accounts receivable in each entity and post the due to/from entries as the entity receiving the payment will owe funds to the other entities entry date the date will default to the current date apply date the apply date defines the gl fiscal period the transaction will apply to the date will default to the current date currency the currency will default to the currency of the customer gravity exchange rate the exchange rate will be selected from the exchange rate table based on the apply date the exchange rate can be changed summary deposit ticket when selecting the deposit ticket method, the entry date and apply date are moved to the deposit ticket a bank account must be selected additional processes use the "+" icon to create a deposit ticket use the trash can to remove the ticket once the deposit ticket is saved, both the cash receipt and deposit ticket are posted at the same time using the last icon payment information payment type select the type of transaction from the drop down list displayed check select if payment is a check cash select if payment is cash wire select if payment is a bank wire credit card select if payment is being made from an credit card processed in gravity if selected a credit card from the customers record must be selected see credit card processing docid 5ou wnwaunm2esujdl sk apply credit/ payment select to apply a previously entered, unapplied credit or payment if selected the credit or payment must be selected ach select if payment is an externally applied ach external credit card select if payment is an externally applied credit card payment id for payment types check, cash, or wire, enter reference information for payment type of credit card, the credit card transaction number is returned to this field document number for payment types check, cash, wire, or credit card, enter a document reference such as a check number apply credit/payment for payment type apply credit/payment use the credit field's lookup feature to select the customer’s unapplied credit to be applied in this transaction the credit and unapplied cash receipts fields are only displayed when payment type apply credit/payment is selected pa yment amount for payment types check, cash, wire, or credit card, enter the amount of the cash receipt transaction entry date is the date the journal entry was created and defaults to the current date credit card use for payment type credit card only select an existing credit card or create a new credit card entry credit card entries must be authorized immediately for validation and application through the credit card gateway once they are authorized they will be posted see credit card processing docid 5ou wnwaunm2esujdl sk payment applied shows the total amount of the cash receipt applied to invoices in the grid this is a system maintained field it is calculated when the batch is saved remaining amount displays the amount of the cash receipt not applied to invoices this is a system maintained field it is calculated when the batch is saved invoices the invoice selection grid is not displayed until a customer is selected invoice grid in gravity selection box select the invoice to which the payment is applied remove and/or change the selection by un checking the selection box to remove all selections double click on the header selection box invoice, po number, entity due date, discount date, original amount and reference reference fields to help in identifying invoices in the grid remaining amount remaining amount represents the remaining open amount of the invoice you cannot apply more that the remaining amount discount amount selecting an invoice allows editing of the discount amount if one was taken by the customer gravity does not automatically take the discount amount even if the terms are met write off amount manually enter or edit a write off amount payment amount payment amount is the amount from the cash receipt applied to the invoice it defaults to the remaining amount manually enter or edit the payment amount to apply less than the invoice's remaining amount