How iMIS processes orders with credit card payments depends on whether the Recognize Credit Card Order Payments as Prepaid Cash option on the AR/Cash Set up module window is enabled or disabled:
Option Disabled
When you apply a credit card payment to an order, iMIS follows the policy dictated by most credit card companies, which is not to submit payment until the order has been shipped. In compliance with this policy, iMIS recognizes a credit card payment at the time an order is invoiced. If you are using batch control, this payment is recognized in the batch that was open during order entry.
To prevent credit card payments from posting to previously closed batches, enable the Create New Batch for Invoicing option on the Order Status Defaults window. When you enable this option, a new batch is created automatically for the entries generated by the invoicing process. This new batch will be numbered using the date method, such as 020726-1, and will be marked as ready for posting. It will appear on the Manage batches window (from AR/Cash, select Manage batches), and you must post the batch from there.
When processing orders with credit card payments on the Payments tab of the Enter and edit orders window, you can enter a payment amount in the Payment Amount field or leave the field blank. If you enter a credit card code in the Check #/CC field and leave the Payment Amount field blank, iMIS will make the cash amount equal to the invoice amount at the time the order is invoiced. If a payment amount is entered in the Payment Amount field, iMIS will apply this payment against the invoiced amount. In the event of over- or underpayments, iMIS will create the appropriate accounts receivable entries.
Option Enabled
When you apply a credit card payment to an order, iMIS treats the payment as a cash payment and immediately recognizes the payment when the order is entered. A debit to the appropriate cash account is created, and a credit is applied to the Prepaid account defined on the AR/Cash Default Accounts window (from AR/Cash, select Set up module, and click ). When you subsequently invoice the order, the prepaid account is debited, and the income account specified for the product is credited.
Note: If you are processing orders in iMIS, you must populate the default Transfer/Clearing and Prepaid accounts on the AR/Cash Default Accounts window.
10.6 Production Release. Updated 7/21/2005 11:34:48 AM
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