On_account and Receipt write off

[anjan123]

Hi folks,

Could any body brief me about " ON-Account and Receipt write off" impact in receipts workbench.




Your answers are valuable.

Regards
Anjani Kumar

[ramesh.nalem]

<b>Write-Off:</b>

Write off is used for unapplied receipts which is quickly and easily closure to unresolved receipts by allowing the user to write off overpayments.

<b>Onaccount:</b>

Excess amount are applied & transferred as onaccont for the customers.

[anjan123]

Hi Ramesh, Thanks for your reply,


could you please explain me Receipt write off & On -Account, with suitable examples ( when did we use these two & what is the impact on Customer balances ).



Thanks & Regards
Anjani Kumar

[ramu.parepalli]

Hi Team,

Receipt Write-Off is a functionality of Receivable Activities in AR.

Receipt Write-Off is used to Write-off customer balance when a customer makes under payment or customer have unapplied receipt.
We configure a GL Account for Receipt Write-Off Activity.

The customer balance decreases when we write-off the balance.

Please correct me if any members has releveant stuff.