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Payment settings in Cash Application Manager

Tom Santiago
Updated
CAMPaymentSettings.png
  1. Default Currency: Use this drop-down menu to select a default currency for the Integration App when there are multiple currencies, but you only want to process transactions from a single currency. Once you select the in this field, CAM creates payments and closes invoices only for the currency you specified. Any transactions or invoices coming into the bank file with alternate currencies result in skipped errors.
  2. Skip Zero Amount Transactions: Check this checkbox to skip $0.00 payment amount transactions from the bank file. If the entire batch only has zero amount transactions, CAM leaves a blank batch record created in NetSuite. This record does not impact processing and records the number of batches received.
  3. Don’t create payment in locked posting period: As a best practice in the financing, users do not create payments once the posting period is locked. However, in some cases where the customers pay late, you can create a payment in the locked period. If this checkbox is checked, and a transaction is made during a locked posting period, CAM fails the record and does not create the payment. If unchecked, CAM runs in administrator mode to create payment records during locked posting periods. Note: This setting creates payments only in locked periods, not closed periods.
  4. Create Payments from third-party transactions: This checkbox governs the ability to create payments from third-party transactions. If checked, CAM creates payments for multiple customer invoices that are paid via a single payment transaction. If unchecked, CAM will not create any payments and marks third-party transactions as skipped errors.
  5. Skip Payment Creation when Amounts mismatch: This setting is only available when the Create Payments from third-party transactions checkbox is checked. If checked, CAM considers NetSuite Invoice Open Amount when the bank doesn’t send the amounts for invoices and does not create payments for the transactions under the following conditions:
    • Transaction amount is less than the invoice total: In previous versions, CAM would occasionally create payments in NetSuite for the wrong amount or apply the correct amount to the wrong customer. CAM now marks such transactions as skipped errors.
    • Bank file has no invoice amount and open amount total is more than the transaction amount: In previous versions, CAM created payments for the open amount on invoices in a sequential order. Once the funds were used, CAM would skip creating payments for transaction amounts or open invoices. CAM now marks such transactions as skipped errors.