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Accounts receivable

Set up clients for accounts receivable processing

You can turn on the Accounts Receivable service for a client to add receivables processing features to Accounting CS. You can set up the application so that you process receivables for your clients, or you can set it up so that your clients process their own receivables in Accounting CS Client Access. You'll need to specify settings in the client record before you can begin processing accounts receivable activity.
note
If your accountant has turned on the Accounts Receivable service to add receivables processing features to Accounting CS, you'll need to specify settings in the client record before you can begin processing accounts receivable activity.

Turn on the Accounts Receivable service

  1. Verify that security is turned on for the accounts receivable features.
    1. Select
      Setup
      Firm Information
      Security Groups
      .
    2. For each security group you want to turn on access to the accounts receivable features, select
      Edit
       then mark the checkbox for each feature applicable to that Security Group on the
      Accounts Receivable
       tab.
    3. Select
      Enter
       to save your changes.
  2. Select
    Setup
    Clients
    .
  3. Select the client you want to add the Accounts Receivable service, then select
    Edit
    .
  4. In the
    Main
     tab of the client's profile, select the ellipsis in the Services section.
  5. In the
    Add/Remove Services
     screen, mark the
    Accounting
     checkbox.
  6. Mark the
    Accounts Receivable
     checkbox then select
    OK
    .
  7. In the
    Clients
     screen, select
    Enter
     to save the client record with the Accounts Receivable service enabled. The
    Clients
     screen should now include the
    Accounts Receivable
     tab.

Specify the accounts receivable settings for the client

  1. Select
    Setup
    Clients
    .
  2. Select the
    Accounts Receivable
     tab.
  3. Select the option for the desired accounting method (accrual basis or cash basis) to use for the client.
  4. Select an application method from the dropdown:
    None
    The program doesn’t automatically apply any invoices, payments, checks, or credit memos together.
    Balance forward
    The program applies transactions to the invoice with the oldest due date first. If a payment amount is greater than the open amount of the oldest invoice, the program applies the remaining payment amount to the invoice with the next oldest due date until the payment amount has been completely applied.
    note
    The program first compares the due dates. If the transaction doesn’t have a due date or if multiple transactions have the same due date, the program then compares the transaction date. If multiple transactions have the same transaction date, the application then compares the date that the transaction was entered in the program.
    Balance matching
    The program applies together 2 AR transactions that have matching open amounts. If any discounts are available, the program takes those into account when determining the amount to match. If there are no transactions with matching amounts, the program doesn’t automatically apply any.
    note
    If multiple transactions have matching amounts, the program compares the due dates. If multiple transactions have the same open amount and due date, the program then compares the date that the transaction was entered in the program.
    Balance matching then balance forward
    The program applies the rules for balance matching first and then the rules for balance forward.
    note
    Examples
    • If you enter a payment and there are 2 open invoices, but the payment amount doesn’t match either of the invoices, the program applies the payment to the invoice with the oldest due date first.
    • If you enter a payment and there are 2 open invoices and the payment amount matches one of the invoice amounts, the program applies it to the matching invoice first, regardless of the dates.
  5. Enter the reference number to use for the next receivable transaction you enter for this client.
  6. To have the application display a message prompt if you enter a reference number that has already been used for this client, mark the
    Prompt when using duplicates
     checkbox.
  7. Select the default general ledger accounts to use.
  8. Select the criteria to sort invoices by (customer ID, customer name, date, due date, or reference number). Select the criteria to sort statements by (customer ID or customer Name).
  9. Select the default invoice layout to use when printing this client's invoices. Select the default statement layout to use when printing this client's statements.
  10. To include your client's logo on their invoices, select the ellipsis to find the image file.
  11. Select
    Enter
     to save the client record.

This article applies to:

  • Product: Accounting CS
  • Subject: Accounts Receivable,Clients

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