The Allocate Cash option within Sales Ledger is used to match off entries. Due to the receipting process within the Cash Book, this option is commonly used to tidy outstanding invoices and credit notes. It is important to allocate receipts, especially within Cash Accounts, to ensure that you are in control of which invoices are outstanding and need follow-ups. Accounts > Sales Ledger > Processing > Allocate Cash.
The reporting functionality within Accounts > Sales Ledger > Reporting provides you with a variety of reporting options such as the Transaction Report and Aged Debt. These reports are particularly handy when doing your monthly Sales Ledger reconciliations as part of your Balance Sheet recons. All Accounts departments should ensure that they do this monthly recon, to enable them to find differences as and when they occur. This will avoid having to explain material differences to auditors at the end of the financial year.
Not familiar with the process or have a question? Please contact your Customer Experience Agent for further detail.