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Once a deposit has been applied to an invoice manually or using the batch process, the next step is to Post the Application of Deposits.
Post Deposit Applications
To begin the process, navigate to the AR Workflow homepage and click Post Applied Deposits. Populate the Posting Date and press Add Post Deposit Applications.
When these tentative receipts created by applying deposits to invoices are posted, the unpaid amount of the invoice(s) is reduced. During the posting process, two cash receipt items are created for each application of a deposit. One item has the negative of the application amount for its amount and is posted to cash and the liability account of the original deposit. The other item’s amount is equal to the application amount and is posted to cash and typically the AR account. The net effect of these two items is that the liability account of the original deposit item is debited and the AR account is credited; reducing the balance in both accounts.
When using the optional criteria for the Post Deposit Applications (batch) function, the criteria field that is used must match the corresponding field on the Cash Receipt Header that is being posted against the invoice.