Auto cash rule set

1. Post quick cash uses auto cash rule set to update the customer account balance
2. Post quick cash tried to pick auto cash rule set first from customer site, then customer profile
class, and finally from the system option level to determine auto cash rule set to use.

Open balance calculation:

Discounts:
Earned only: if we want to give customer earned discounts, choose this option
Note: we can choose this option only when we set allow unearned discount option YES
in the system options window.
Earned and unearned only: customer can take both types of discounts.
Note: we can choose this option only when we set allow unearned discount option NO
in the system options window.
Note: if we want to include item in dispute and late charges when calculating customers open
balance we can enable these two options as per the requirement.

Automatic matching rule: if our auto cash rule set includes “Apply to the Oldest Invoice First”,
we can choose any one of the options 1.unapplied 2. On-account to keep remaining receipt
amount

Note: if we want to apply partial receipts when using auto cash rule set “Apply to the Oldest
Invoice First” w can just enable the option “apply partial receipts”.

Auto cash rules:

1. Apply to the old invoice first
2. clear the account
3. clear past due invoices
4. clear past due invoices grouped by payment terms
5. match payment with invoices

Note: Auto Cash rules do not support cross-currency receipt applications.

Apply to the old invoices first

This rule matches the receipt to debit and credit items with oldest items first.

This rule applies the receipt amount against the debit and credit items as per the transaction due
date and the values we defined for the auto cash rule set.

Clear the account:

Post quick cash uses this rule if the receipt amount exactly matches with the customer accounts
balances. If receipt amount does not match exactly with the customer balance, post quick cash
searches for the next rule defined in the auto cash rule set.

This rule ignores apply partial receipt option.

Opening balance calculation:
Opening balance = original balance + late charges – discount

Clear past due invoice:

This rule is similar to the “clear the account”.

This rule applies the receipts to the customer’s debit and credit items only

Note: A debit item is considered past due if its due date is earlier than the receipt deposit date
where as a credit item past date is considered as same date as or earlier than the receipt deposit
date.

This rule ignores apply partial receipt option.

Clear past due invoices grouped by payment terms:

This rule is similar to the “clear past due invoices” rule.

First this rule group past due invoices according to the payment terms, then uses the oldest
transaction due date within the group.

This rule applies the receipts to the credit memos and past due invoices only when the receipt
amount exactly matching with the credit memos and past due invoices.

Note: A debit item is considered past due if its due date is earlier than the receipt deposit date
where as a credit item past date is considered as same date as or earlier than the receipt deposit
date because of credit memos do not payment terms hence they have included in each group.

Match payment with invoices:

This rule applies the receipt to a single invoice, debit memo, or chargeback that has a remaining
amount due exactly equal to the receipt amount.

Example 1:
Receipt amount 100 Rs.
Remaining invoice amount 90 Rs

In the above example post quick ignore the Match payment with invoices because of the receipt
amount not equal to the remaining invoice amount.

Example 2:

Receipt amount 100 Rs.

Remaining invoice amount 100 Rs
In the above example receipt amount will be applied to the invoice because of the receipt amount
is equal to the remaining invoice amount.

If we want to include the bank charges when applying the receipts against transactions

Set the profile option: AR: Create Bank Charges to YES

Define auto cash rule set:

App: Receivables
Nav: setup  receipts  autocash rule set

Enter the auto cash rule set name and description

Choose open balance calculation options:
Select discounts either earned only or earned and unearned only as per the requirement

Enable the items in dispute check box option if there is any dispute items included for our
customer.

Enable the Finance charges check box option if we want to include any finance charges or late
charges for our customer.

Choose the automatic matching rule:

Select remaining remittance amount either on-account or unapplied to keep the any remaining
amounts after applying the receipts against transactions

Enable the check box Apply Partial Receipts to apply partial amount against transactions.

Choose auto cash rule sequence and rules.