Accounts Receivable - Frequently Asked Questions

Error: No charge code on Invoice: Company XX, Invoice Number XXXX. What is a charge code?

On the Maintain Customers screen, there is an Accounting tab where you enter the charge codes in the Interest Rate field (standard Treeview path: Accounts Receivable > Setup > Maintain Customers – Accounting tab). This code determines the interest calculation rules for overdue balances. This is a mandatory field.

Can I clear small amounts from the AR and/or AP aging reports?

Small amounts accumulated from over-payments or underpayments can be cleared from aging reports. For more information, please refer to Accounts Receivable - Clearing Amounts from AR and AP Aging Reports.

How do I manage overpayment of an invoice?

If an invoice is overpaid, there are three options:

1. The current invoice can be increased before entering the receipt against the invoice.

2. The excess payment can be applied to the next invoice.

3. If there are no future invoices, a new invoice can be created for the remaining amount.

For more information, please refer to Accounts Receivable - Applying Overpayments to Invoices.