Payment Transfers

What is the difference between Transfer of Payments, Transfer of Overpayments and Transfer Credits?

Transfer of Payments vs Transfer of Overpayments vs Transfer Credits.

• Accounts Receivable

• Payment Processing

• Adjust Invoices

• Transfer of Payments

• Transfer of Overpayments

Users should know the difference between the Transfer of Payments, and Transfer of Overpayments programs. How they are distinct from the Transfer Credits function in Adjust invoices, And when to use each process. 

Transfer of Payments:

The Transfer of Payments program transfers receipts to one or more bills. For example, if a payment was applied to the incorrect bill, you can use the Transfer of Payments program to reapply the payment to the correct bill. The Transfer of Payments option applies to receipts that are at status 40-Complete and that are not voided, reversed or a reversal, and for which there are no AR code restrictions. It is intended as an alternative to user reversing and re-entering receipts that have been entered on an incorrect bill. Transfer of Payments also allows for payments to be moved from one customer to another, if the bill categories are the same. Transfer of Overpayments does not allow for moving amounts between customers.

Transfer of Overpayments:

This program is used when a bill has a credit amount that is the result of an overpayment. Meaning the bill's Paid Amount is more than its Billed Amount. 

The program allows the following:

• Transfers of multiple charges to multiple charges. A journal entry is automatically created if the transfer of multiple charges affects the general ledger.

• Transfers from and to business license audit bills that are not in a payment plan.

• Accounts receivable codes on bills to be different, but the fund for the cash accounts must be the same (If there are charges with funds that do not match the Transfer From bill, the program does not allow you to select the Transfer To bill).

Transfer Credits:

If the credit is not a result of an overpayment, the Transfer Credit button in the Adjust Invoices program can be used. Transfer Credits moves a credit balance from one invoice to another. The Transfer Credits screen draws the details for the source invoice from the invoice currently selected on the Adjust Invoices screen. The details include the invoice year and number, the customer number, and the billed, adjusted, paid, due, and credit amounts. The default value for the Credit Transferred field is the total credit amount available, but you can update that to a lesser amount.

The customer number for the source and target invoices must be the same.

Please Contact Support For Additional Information.