Invoice Payments: Release of Payments

In MYOB Acumatica, payment documents that can be released manually have the following document types on the Payments and Applications (AR302000) form: Payment, Prepayment, Customer Refund, and Voided Payment. The information in this topic applies to documents of the Payment type.

This topic describes the forms you may use to release a payment and the details of releasing payments and their application records, as well as the details of the generation of the GL batch.

Releasing a Payment

In MYOB Acumatica, if a payment has the Balanced status, you can release the payment by using one of the following forms:

• Payments and Applications: You release a payment and any of its applications by clicking the Release button on the form toolbar.
• Release AR Documents (AR501000): You use this mass-processing form to release a particular payment or multiple payments.

If you have recorded bank charges for the payment, the system generates the respective transactions and includes them in the batch with the payment transactions. For details on bank charge transactions, see Finance Charge Transactions.

In addition to payment transactions that update the asset accounts, the batch may contain transactions generated by application records that were released along with the payment. For details, see Invoice Payments: Release of Application Records.

Releasing a Payment Without Applications

When you record a payment, you may not specify any outstanding documents on the Documents to Apply tab of the Payments and Applications form. Thus, the available balance of the payment is equal to the payment amount. When you release such a payment document, the system does the following:

• Changes the payment status to Open.
• Decreases the customer's balance by the payment amount.
• Generates a GL batch to update the involved asset accounts. For details, see Releasing a Payment.

In this case, the system generates a GL batch that contains only payment transactions and transactions for any bank charges. For details, see Releasing a Payment.

Releasing a Partially Applied Payment

When you record a payment, you may specify some outstanding documents on the Documents to Apply tab of the Payments and Applications form. The system creates application records for each document listed on the tab; the records include the applied amount. Thus, the available balance of the payment becomes less than the payment amount. When you release such a payment document, the system does the following:

• Changes the payment status to Open.
• Releases any application records.
• Decreases the balances of the paid documents. If the balance of a paid document becomes 0.00, the system changes its status to Closed.
• Decreases the customer's balance by the paid amount.
• Decreases the customer's balance by the available payment balance.
• Generates a GL batch to update the involved asset accounts. For details, see Releasing a Payment.

When you release a partially applied payment, the GL batch may contain, in addition to payment transactions, some transactions generated by its application records. For details, see Invoice Payments: Release of Application Records.

Releasing a Fully Applied Payment

When you record a payment, you may fully apply its available balance to one outstanding document or multiple outstanding documents.

You distribute the entire available payment balance among the outstanding documents you add to the table on the Documents to Apply tab of the Payments and Applications form. The system creates application records (which include the applied amount) for each document listed on the tab. Thus, the available payment balance becomes 0. When you release such a payment, the system does the following:

• Changes the payment status to Closed.
• Releases the application records.
• Decreases the balances of the paid documents. If the balance of a paid document becomes 0.00, the system changes its status to Closed.
• Decreases the customer's balance by the paid amount.
• Generates a GL batch to update the involved asset accounts. For details, see Releasing a Payment.

When you release a fully applied payment, the General Ledger batch may contain, in addition to payment transactions, some transactions generated by its application records. For details, see Invoice Payments: Release of Application Records.

Releasing a Voided Payment

When you void a payment document, the system creates a document with the Voided Payment type with the same reference number as the document you have voided. For step-by-step instructions, see To Void a Payment.

When you release a void payment, the system does the following:

• Changes the status of the voided document to Voided.
• Releases any reversed application records.
• Increases the balances of the earlier paid documents. If the earlier paid documents were closed, the system changes their status to Open.
• Increases the customer's balance by the voided amount.
• Generates a GL batch to update the involved asset accounts with the reversed transactions. For details, see Releasing a Payment.

When you release a void payment, the GL batch may contain, in addition to reversed payment transactions, some transactions generated by reversed application records. For details, see Invoice Payments: Release of Application Records.

Releasing a Payment Associated with a Project

When you release a payment document that has a project and project task specified on the Financial tab of the Payments and Applications (AR302000) form, the system generates the batch of transactions that are associated with the non-project code, which is specified on the Projects Preferences (PM101000) form, and no project task. That is, the generated transactions do not affect the project and project task.