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What is the difference between adding and applying a payment?

Adding a payment is acknowledging that a payment has been received. When adding a payment, the funds will automatically be deducted from the outstanding totals. Applying a payment allows you to keep track of payments against certain invoices. Applying a payment has no effect over the totals of a client, it mainly just changes an invoice status from saying Unpaid to Paid. There are some benefits to applying payments as far as Reporting goes. Invoice AR Aging, Payments Applied, Collections, and Invoice report all require payments to be applied to Invoices in order to show proper totals on these reports. There are other reports like Account Activity, Account Balance, Payments Received, etc., that do not require you to apply payments to invoices in order to run properly.

 

For instructions on how to apply payments click here.

 

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Comments

  • Avatar
    Greg Surman

    I am confused.  I have looked all over and I do not see any buttons for "adding a payment" or "posting a payment."  The only button I can find regarding payments is "Receive Payment."  Please clarify.

  • Avatar
    Donna Foust

    me too!

  • Avatar
    Sandra Hicks

    There is not a button for "adding a payment" or "posting a payment." If you go through enough questions in the knowledge database, you will see that users often talk about adding a payment and/or posting a payment. This user has seen that and is just trying to understand the difference between the 2.  That's all.

  • Avatar
    Sandra Hicks

    There is not a button for "adding a payment" or "posting a payment." If you go through enough questions in the knowledge database, you will see that users often talk about adding a payment and/or posting a payment. This user has seen that and is just trying to understand the difference between the 2.  That's all.

  • Avatar
    Greg Surman

    Sandra--

    Thanks for your replies to my prior comment.  But apparently, I did not make myself clear.  Understanding the difference between "adding a payment and "posting a payment" is indeed helpful.  But, that's not all.  I still need to understand how to actually do the latter.  I have no problem "receiving" (/a/k/a "adding") payments.  But I still have not managed to figure out how to "apply" (a/k/a "post") a payment to a particular invoice.  Thanks. 

  • Avatar
    Jay M. Borowsky

    I used to be able to post to a single invoice but no longer.

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