1. Enter checks received against the invoice. Go to Commands, Receive Payment, and apply the check to the correct invoice(s). Enter the exact check amount.
2. The offset account for allowances is usually determined by the accountant and set as company policy, so we are not in a great position to tell you what account to use. It is common to use a GL account 4140 Allowances, or 4150 Returns. If you don’t have account 4140 you can enter it under Ledger > Account categories.
3. With the customer “current” (that is, with their window open or an invoice window for that customer open), go to Commands > Adjust Recievables. Enter a description, post date which is usually today, memo, credit/allowance amount, and an offset GL Account, 4140. Apply the credit amount to the invoice with an open balance. Click OK to save the transaction.
4. When done with the Adjust Receivables window, close it. Examine the Customer A/R TRX window to see the results of this entry.
Multiple allowances can be entered as a single transaction on the Adjust Receivables window, although sometimes it may be preferable to make separate entries for each allowance.
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