Authors :
Sudheer Kanduri
Volume/Issue :
Volume 8 - 2023, Issue 7 - July
Google Scholar :
https://bit.ly/3TmGbDi
Scribd :
https://tinyurl.com/32e965fv
DOI :
https://doi.org/10.5281/zenodo.8282837
Abstract :
In receivables, creating a transaction for
customer billing and which has the payment due date and
accordingly customer makes the payment based on
payment due date, after receiving the payment in bank
statement, cash application team creates the receipt and
applies on transaction, but still there is remaining amount
exists since, TDS amount is deducted by the customer and
makes the payment, Due to this, AR team knock off the
remaining amount by creating credit memo and applies
on transaction. Currently this activity performs
manually, it can be handled when we have few credit
memos. If volume is high, it will take time to complete the
activity. We recommend here to develop a program where
system applies the credit memos automatically as per date
provided in flat file.
In receivables, creating a transaction for
customer billing and which has the payment due date and
accordingly customer makes the payment based on
payment due date, after receiving the payment in bank
statement, cash application team creates the receipt and
applies on transaction, but still there is remaining amount
exists since, TDS amount is deducted by the customer and
makes the payment, Due to this, AR team knock off the
remaining amount by creating credit memo and applies
on transaction. Currently this activity performs
manually, it can be handled when we have few credit
memos. If volume is high, it will take time to complete the
activity. We recommend here to develop a program where
system applies the credit memos automatically as per date
provided in flat file.
