📄️ Total G/L
Prior to AR Posting, you can use this screen to quickly see the totals going to each GL account. Specifically, you would be interested in balancing the bank. The screen will also show if your AR transactions are out of balance. The total will always be zero if the transactions are in balance.
📄️ Verify Balance
Prior to AR Posting, you can use this screen to see if your journal entries and invoice entries are in balance. The balance column will always be zero if the transactions are in balance.
📄️ Posting to AR
AR > Post Transactions
📄️ AR Daily Procedures
The AR daily procedures consist mainly of taking payments and balancing the bank deposit. The first step is to complete the invoice posting. That gives you the total money taken at the cash drawer. In AR, we add payments on account and that gives you the total being deposited into the bank. AR daily procedures is broken out into the following steps:
📄️ AR Deposit Batch
Deposit batch is a way of checking that all the payments are keyed in correctly and you haven’t missed anything. If you receive a series of cheques, this process helps you reconcile the AR Payments or Journal Entry (JE) and make sure that all the cheques have been keyed in properly and you have not missed anything.
📄️ AR Month End
Once the AR department has closed a month, they generally do not want people to be able to post into a closed period as this will affect their balancing both in AR and in the GL.
📄️ AR Service Charges
If your company charges late payment service charges, then you need to run Service Charges from the AR menu as part of your Month End Procedures. The defaults for new customers and whether you charge Service Charges or not are set in Tools > System Maintenance > AR variables > Customer 1 tab. The default period and rates for Service Charges are setup in Tools > System Maintenance > AR variables > SVC Charges tab. In Customer Maintenance, on the credit tab, you can control whether the individual customer is charged a service charge or not. This is helpful for warranty companies of internal accounts which you do not want the system to start charging a service charge.
📄️ Drop Paid Invoices
Drop Paid Invoices is done at month end, or before you run reports or statements. It will clear out invoices and checks that have a zero balance. Drop Paid can be run at any time and as many times as necessary.
📄️ Customer Refund Check
A refund usually involves a customer putting a down payment on product and then cancelling, or a customer being given a discount because of a damaged product or poor service. In either case, they previously paid and now require a refund.
📄️ Credit Limits
Tools > System Maintenance > Variables > Accounts Receivable > Customer 1 tab
📄️ Credit Approval
Credit Approval encompasses a wide variety of credit issues for both charge accounts and third party financing. Charge accounts may be at or near their credit limit, some accounts may be questionable and every order must be approved or, in the case of third party financing, somebody has to make sure the credit application has been approved.
🗃️ Utilities
2 items
🗃️ AR - Reports
3 items