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Customer Payments

Payments received from a Customer can be deposited directly into the Bank or alternatively retained and ‘batched’ into a consolidated Bank Deposit Slip.

 

Bank:

This Cost Centre is linked to the Payment Account entered against the Customer Payment.

or

Undeposited Funds:

The Cost Centre Mapping By Site is evaluated to determine the Cost Centre for Undeposited Funds based on the site of the Customer Payment. If no Site Cost Centre Mapping rule exists,

then the Base Cost Centre Mapping is evaluated to determine the Cost Centre for the Undeposited Funds

Unapplied Payments:

The Cost Centre Mapping By Site is evaluated to determine the Cost Centre for Unapplied Payments based on the site of the Customer Payment. If no Site Cost Centre Mapping rule exists,

then the Base Cost Centre Mapping is evaluated to determine the Cost Centre for the Unapplied Payments

If the Payment includes a Positive Payment Rounding amount the following entries will also be created (Reverse entries would be generated if a negative Payment Rounding was entered)

 

Payment Rounding:

The Cost Centre Mapping By Site is evaluated to determine the Cost Centre for Payment Rounding based on the site of the Customer Payment. If no Site Cost Centre Mapping rule exists,

then the Base Cost Centre Mapping is evaluated to determine the Cost Centre for the Payment Rounding

Unapplied Payments:

The Cost Centre Mapping By Site is evaluated to determine the Cost Centre for Unapplied Payments based on the site of the Customer Payment. If no Site Cost Centre Mapping rule exists,

then the Base Cost Centre Mapping is evaluated to determine the Cost Centre for the Unapplied Payments

If the Payment includes a Positive Finance Charge (reflecting a Finance Charge Recovered) amount the following entries will also be created. (Reverse entries would be generated if a negative Finance Charge was entered)

 

Finance Charge:

The Cost Centre Mapping By Site is evaluated to determine the Cost Centre for Finance Charge based on the site of the Customer Payment. If no Site Cost Centre Mapping rule exists,

then the Base Cost Centre Mapping is evaluated to determine the Cost Centre for the Finance Charge

Unapplied Payments:

The Cost Centre Mapping By Site is evaluated to determine the Cost Centre for Unapplied Payments based on the site of the Customer Payment. If no Site Cost Centre Mapping rule exists,

then the Base Cost Centre Mapping is evaluated to determine the Cost Centre for the Unapplied Payments

Quickbooks Online (QBO) only

This is the Ostendo Payment amount to be allocated to Invoices after any Payment Rounding and Finance Charges

 

#_BANKCLEARING_#

This Cost Centre is forced by Ostendo itself and cannot be amended.

Unapplied Payments:

The Cost Centre Mapping By Site is evaluated to determine the Cost Centre for Unapplied Payments based on the site of the Customer Payment. If no Site Cost Centre Mapping rule exists,

then the Base Cost Centre Mapping is evaluated to determine the Cost Centre for the Unapplied Payments

This is the Ostendo Received amount representing the amount that was actually received

 

Bank:

This Cost Centre is linked to the Payment Account entered against the Customer Payment.

or

Undeposited Funds:

The Cost Centre Mapping By Site is evaluated to determine the Cost Centre for Undeposited Funds based on the site of the Customer Payment. If no Site Cost Centre Mapping rule exists,

then the Base Cost Centre Mapping is evaluated to determine the Cost Centre for the Undeposited Funds

#_BANKCLEARING_#

This Cost Centre is forced by Ostendo itself and cannot be amended.

If the Payment includes a Positive Payment Rounding amount the following entries will also be created

 

Payment Rounding:

The Cost Centre Mapping By Site is evaluated to determine the Cost Centre for Payment Rounding based on the site of the Customer Payment. If no Site Cost Centre Mapping rule exists,

then the Base Cost Centre Mapping is evaluated to determine the Cost Centre for the Payment Rounding

#_BANKCLEARING_#

This Cost Centre is forced by Ostendo itself and cannot be amended.

If the Payment includes a Positive Finance Charge (Representing a Finance Charge Recovered) amount the following entries will also be created.

 

#_BANKCLEARING_#

This Cost Centre is forced by Ostendo itself and cannot be amended.

Finance Charge:

The Cost Centre Mapping By Site is evaluated to determine the Cost Centre for Finance Charge based on the site of the Customer Payment. If no Site Cost Centre Mapping rule exists,

then the Base Cost Centre Mapping is evaluated to determine the Cost Centre for the Finance Charge