accounts receivable indianapolis, indiana april 2008
TRANSCRIPT
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Accounts Receivable
Indianapolis, Indiana
April 2008
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Ground Rules:• PLEASE ask questions – I don’t mind being
interrupted.
•NO question is stupid.
• Please keep questions relevant to the group as a whole.
• “Can it be done” versus “Should it be done”?
•MY way isn’t the ONLY way.
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1. 4.1.1 – Post Cash
2. 4.2.8 – Batch Listing
3. 4.2.1 – Cash Listing
Posting Cash
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Cash Reconciliation Rpt
• Report is now available which breaks out the AR money collect by store by batch; cash with orders is added at the bottom to account for total cash activity.
• EOD number is 01-171. EOM number is 01-127.
• Menu 35.6, screen 2, #17 must be set to Y to close balanced AR batches during EOD, which will generate EOD report 01-173.
• Safety net - still recommend users balance AR batches daily
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Collecting A/R at Counter
• Receive payment, enter invoice with message line and record payment received.
• Allow counter staff to receive and enter payment for prior days’ invoices
• Really helpful in remote stores so they can collect and make the deposit AND get the money on the account.
• EOD report: EOD Unapplied Cash Listing
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12.2.15 NSF MaintenanceBank CallsBank Calls Notify CustomerNotify Customer Collect MoneyCollect Money
First Notification of a Bad Check is usually because your Banker calls…
You then need to notify your customer and determine method of restitution…
System Accounting
*Multiple Methods
System Accounting
*Multiple Methods
Handout – NSF Items
Store resources, District Attorney, Small Claims Court, Property Liens…
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AdjustmentsRe-open Original Invoice(s) Invoice in Order Entry
AR Adjustments
Off System Handling
Combination
R/C
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Aging Options
• M-35.6, Screen 2 field 18 Set the parameter, run through EOD, see how it works.
• AR Aging options for system to age based on month-end, due date, or invoice date.
• Find the AR aging method that works best for how you do your business.
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• Month-end - same aging calculation as before except that the credits will not age against overdue balances.
• Due Date – invoices will age based on the number of days past the due date.
• Invoice Date – Aging will be based on the number of days since the invoice was run.
• Secret Option #4
Aging Options
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To generate Dunning Letters the flag must be set in the Customer Master Maintenance, Menu 12.2.2.2, screen 2, field 8, to “Y”.
The aging parameters, set in Company Ageing Maintenance, Menu 12.1.9, will not affect the Dunning letter codes that are generated in
Menu 4.4.1.
Dunning Letters
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1. Dunning Letter Updt to Cust.Det File - Updates all customers with a past due balance to the next letter. This update is not due date or period sensitive. The letter code will change every time the report is run.
2. Dunning Letter Edit Report – A report of current account receivables, the Dunning Letter to print is indicated in the left column, LTR, letter 1, 2, 3. A single asterisk “*”, indicates all three letters have been sent. Two asterisks “**” indicate the Dunning Record flag is not set on the Customer Master Maintenance Screen, Menu 12.2.2.2 screen 2, field 8.
Dunning Letters
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3. Dunning Letter Customer Maintenance – To manually adjust the Dunning Letter a customer is to receive, Line 1 may be changed to 1,2,3,4 or 5.
4. Dunning Letter Form Print – Print current Dunning Letters assign to Customers.5. Dunning Letter File Text Maintenance – Edit text on any Dunning Letter. 4. Dunning Letter Form Print – Print current Dunning Letters assign to Customers.
5. Dunning Letter File Text Maintenance – Edit text on any Dunning Letter.
Dunning Letters
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-----Original Message-----From: [email protected] [mailto:[email protected]] Sent: Thursday, April 03, 2008 12:17 PMTo: [email protected]: CREDIT AUTHORIZATIONORIG OPER Bob TCUSTOMER 25894 HOTEL HUNTINGTON BEACHRELEASE# 01110652001 **PICK/PACK**AMOUNT 195.72PAYMENT 0.00 A/R BAL 0.00
Event Notification
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End of Year Procedures
1.AR Month-end close rolls into Year End*Confirm with DST
2.Close 12th month AP
3.Close year AP*MUST happen before entries for new year
4.Close 12th month GL*Manually Rollover NI (if Separate from Retained Earnings)
5.Close year GL *NO 13th month
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0011 0010 1010 1101 0001 0100 1011Items for Discussion-Deposit Invoices
-Z95 items-Customer Refunds
-Printing Customer Labels