Payments with Write-Off: Generated Transactions
When you release a payment, its application, and a write-off (if applicable), the system generates a GL transaction to update the involved asset accounts with the journal entries related to the payment.
The following payment-related transaction will be recorded to the general ledger when a payment with a credit write-off is released. If there is no credit write-off, the third journal entry is omitted.
| Account | Debit | Credit |
|---|---|---|
| Cash account | Payment amount | 0.00 |
| Accounts Receivable account | 0.00 | Invoice amount |
| Income account set up for credit write-offs | 0.00 | Write-off amount |
The following payment-related transaction will be recorded to the general ledger when a payment with a balance write-off is released. If there is no balance write-off, the third journal entry is omitted.
| Account | Debit | Credit |
|---|---|---|
| Cash account | Payment amount | 0.00 |
| Accounts Receivable account | 0.00 | Invoice amount |
| Expense account set up for balance write-offs | Write-off amount | 0.00 |
You can view the batch details by clicking the link in the Batch Nbr. box on the Financial Details tab of the Payments and Applications (AR302000) form, which causes the system to open the batch on the Journal Transactions (GL301000).