Transaction Application Program


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.

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