Accounts Receivable Indianapolis, Indiana April 2008
Introductions
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.
Quick Tips & Tricks
Multiple Ports
Turn on Scroll Bar
Customer Master
Menu
Menu
Menu
Menu
Menu
Menu &
Menu
Menu WE LOVE THIS MENU!
Menu 4.1.9
Demonstration – Shortcuts
AR Adjustments
Menu 4.1.2
Demonstration – Posting Cash
– Post Cash – Batch Listing – Cash Listing Posting Cash
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 EOM number is Menu 35.6, screen 2, #17 must be set to Y to close balanced AR batches during EOD, which will generate EOD report Safety net - still recommend users balance AR batches daily
the Counter
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
Collecting A/R $ at Counter
NSF Checks
NSF Maintenance Bank Calls Notify Customer Collect 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…
Most Common NSF Adjustments Re-open Original Invoice(s)Invoice in Order Entry AR Adjustments Off System Handling Combination R/C
Demonstration – NSF
Menu
Demonstration NSF (Menu 12)
Aging *See handout
Menu 35.6, Screen #2
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.
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
Dunning Letters *See Handout
Menu 4.4
To generate Dunning Letters the flag must be set in the Customer Master Maintenance, Menu , screen 2, field 8, to “Y”. The aging parameters, set in Company Ageing Maintenance, Menu , will not affect the Dunning letter codes that are generated in Menu Dunning Letters
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 screen 2, field 8. Dunning Letters
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 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
Split Invoices
Menu 4.1.2a
Event Notification
Menu 35.19
-----Original Message----- From: Sent: Thursday, April 03, :17 PM To: Subject: CREDIT AUTHORIZATION ORIG OPER Bob T CUSTOMER HOTEL HUNTINGTON BEACH RELEASE# **PICK/PACK** AMOUNT PAYMENT 0.00 A/R BAL 0.00 Event Notification
Service Charges
Service Charges Menu 4.3
Menu
End of Year Procedures *See handouts
End of Year Procedures 1.AR Month-end close rolls into Year End *Confirm with DST 2.Close 12 th month AP 3.Close year AP *MUST happen before entries for new year 4.Close 12 th month GL *Manually Rollover NI (if Separate from Retained Earnings) 5.Close year GL *NO 13 th month
Back-up Tapes!
Items for Discussion -Deposit Invoices -Z95 items -Customer Refunds -Printing Customer Labels
Questions
Class Evaluations
Thank YOU!