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Accounts receivable

Frequently asked questions about Accounts Receivable

Refer to the following frequently asked questions about Accounts Receivable.
  • The incorrect GL account numbers were selected or left blank in the
    Accounts Receivable
     tab of
    Setup
     then
    Client
    . It's important that you specify an account for each field to ensure that the journal entries are posted to the correct accounts.
  • The Beginning Balances weren't entered, or incorrect balances were entered, in the
    Accounts Receivable
     tab of
    Setup
     then
    Customers
    .
  • The AR Date was incorrect when invoices were entered.
  • The Basis (Cash vs. Accrual) was incorrect selecting the report.
It's possible that you either had the wrong posting period or AR Date. Remember, the posting period is the current period that the application is in. In
Accounts Receivable
, there's also AR Date and it defaults to system date. If the current posting period set to a prior period and you didn't change the AR Date, you could be dating your receivable for today while trying to post it in a prior period.
In the
Actions
 then
Enter Invoices
 screen, locate the finance charge and select it. Select
Delete
 to remove it.
  • Unapplied payments won't be reflected in the unearned revenue account. Go to
    Actions
     then
    Apply Customer Payments
     and search for unapplied payments.
  • Blank or incorrectly assigned GL accounts will create inaccurate balances. Go to the
    Accounts Receivable
     tab of
    Setup
     then
    Clients
     and assign all general Ledger accounts in the General Ledger Accounts section.
When printing invoices with a future date, you'll need to set the AR Date to that future date or beyond (via the
Actions
 then
Change AR Date
 window). If the AR Date is before the invoice date, the application won't print the complete invoice.
Although there isn’t a way to issue a refund in the Accounts Receivable application, you can issue a refund check to your customer by following these steps:
  1. Set up an “Other charge” Invoice Item, selecting the general ledger account you'll use when issuing the refund check. In most instances, the invoice item would be non-taxable.
  2. Create a new Invoice in
    Actions
     then
    Enter invoices
     using your new invoice item, entering the amount equal to the overpayment.
  3. Apply the invoice to the overpayment in
    Actions
     then
    Apply Customer Payments
    .
  4. Create a Transaction type “Check” in
    Actions
     then
    Enter Transactions
     to refund your customer, using the general ledger account associated with the Other Charge invoice item from above.
The customer’s check will be available to print in the
Vendor/Payee
 tab of
Actions
 then
Print Checks
.
Some customers may pay you in advance of your creating an invoice for the product or service provided. You can enter their payment in
Actions
 then
Manage Customer Payments
, process it as you would your other deposits and leave the prepayment unapplied. Once the invoice is created, apply the prepayment to the invoice in
Actions
 then
Apply Customer Payments
.

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