Out of the box, a credit memo must be applied against a specific invoice, then a cash receipt can be applied to the net balance of the invoice.
For companies who have a lot of credit memos to apply, this is not efficient.
GoldFinch added an Apply Credit Memo button on the Cash Receipt page. You can use this button to select an invoice, then select all related credit memos to apply.
To maintain the properYou want select and apply to performance this function one invoice a time.
After you apply credit memos, you can then apply cash