About release of payments

In Visma.net ERP, if a payment has the Balanced status, you can release the payment by using one of the following windows:

• Customer payments (AR302000): You release a payment and any of its applications by clicking the Release button in the window toolbar. For details, see Release a payment document.
• Release customer documents (AR501000): You use this mass-processing window to release a particular payment or multiple payments. For details, see Release customer documents .

When you release a payment, the system generates a general ledger batch to update the involved asset accounts with the payment transactions. The payment includes all the information the system needs to generate the batch. The following two accounts are usually involved:

• The asset account specified in the Customer ledger account field on the Financial details tab
• The cash account specified in the Cash account field in the Summary area

The following payment transactions will be recorded to the general ledger when the payment is released.

You can view the batch details by clicking the link in the Batch no. field on the Financial details tab of the Customer payments (AR302000) window.

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 About release of application records.

When you record a payment, you may not specify any outstanding documents on the Documents to apply tab of the Customer payments (AR302000) window. 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 general ledger batch to update the involved asset accounts.

In this case, the system generates a general ledger batch that contains only payment transactions and transactions for any bank charges.

When you record a payment, you may specify some outstanding documents on the Documents to apply tab of the Customer payments (AR302000) window. 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, 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 general ledger batch to update the involved asset accounts.

When you release a partially applied payment, the general ledger batch may contain, in addition to payment transactions, some transactions generated by its application records. For details, see About release of application records.

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 Customer payments (AR302000) window. 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, the system changes its status to Closed.
• Decreases the customer's balance by the paid amount.
• Generates a general ledger batch to update the involved asset accounts

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 About release of application records.

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 Void a payment or prepayment document.

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 general ledger batch to update the involved asset accounts with the reversed transactions.

When you release a void payment, the general ledger batch may contain, in addition to reversed payment transactions, some transactions generated by reversed application records. For details, see About release of application records.