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| Re: Difference between On-account Receipt and Unapplied Receipt? [message #149897 is a reply to message #147639] |
Mon, 05 December 2005 10:27  |
David.K.Dickson
Messages: 413
Registered: October 2005
Location: Surrey, England
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Senior Member |
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According to the AR User's Guide, Glossary:-
unapplied payment: The status of a payment for which you can identify the customer, but you have not applied or placed on
account all or part of the payment. For example, you receive a check for $1200.00 and you apply it to an open debit item for
$1000.00. The remaining $200.00 is unapplied until you either apply the payment to a debit item or place the amount On Account.
on–account payment: The status of a payment of which you apply all or part of its amount to a customer without reference to a
specific debit item. Examples of these are prepayments and deposits.
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