Accounts Receivable (A/R) Account assignments represent the default General Ledger (G/L) Accounts used by the system when processing the following:
Invoices
Cash Receipts
S/O Credit Memos
Miscellaneous A/R Credit Memos
Miscellaneous A/R Debit Memos
The Account assignments are made by Customer Type. This means that transactions involving a Customer will follow the assignments established for the Customer Type—unless otherwise specified. To access the A/R Account assignments master list, select the "A/R Account Assignments" option. The following screen will appear:
The "A/R Account Assignments" screen displays information on existing A/R Account assignments.
To the far right of the screen, the following buttons are available:
- CLOSE
Closes the screen, returning you to the application desktop.
Runs the report associated with this screen.
- NEW
Opens screen for creating a new A/R Account assignment.
- VIEW
Highlight an A/R Account assignment and then select this button to reach a read-only view of the "Edit" screen.
- EDIT
Enables you to edit highlighted A/R Account assignment. The edit screen is the same as that for creating a new A/R Account assignment—except that when editing, the fields will contain A/R Account assignment information. Double-clicking on an A/R Account assignment will also bring you to the editing screen.
- DELETE
Highlight an A/R Account assignment and then select this button to remove the A/R Account assignment from the master list.
To create a new A/R Account assignment, select the NEW button. The following screen will appear:
When creating a new A/R Account assignment, you are presented with the following options:
- Selected Customer Type
Specify the Customer Type you want to associate with the A/R Account assignment.
- Pattern
Enter a Customer Type pattern to select a range of Customer Types. Refine your search using Regular Expressions.
- A/R Account
Identify a General Ledger (G/L) Account to assign as the default A/R Account. This is an Asset Account. For example, it will be debited when Invoices are posted and credited when Cash Receipts are posted.
- Prepaid Receivables Account
Identify a General Ledger (G/L) Account to assign as the default A/R Prepaid Account. This is a Revenue contra Account. It will be debited when Miscellaneous A/R Credit Memos are posted and credited when Miscellaneous A/R Debit Memos are posted.
- Freight Account
Identify a General Ledger (G/L) Account to assign as the default Freight Account. This is a Revenue Account. It will be credited when Invoices are posted and debited when S/O Credit Memos are posted.
- Deferred Revenue Account
Identify a General Ledger (G/L) Account to assign as the default Deferred Revenue Account. This is a Liability Account. It is an optional Account, as systems may be configured to ignore it when handling Customer Deposits. When this Account is used, it will be credited when unapplied Cash Receipts are posted and debited when the A/R Credit Memos resulting from unapplied Cash Receipts are applied to A/R open items.
Note
You can disable the use of a Deferred Revenue Account for handling Customer Deposits at the system level.
To the far right of the screen, the following buttons are available:
- CANCEL
Closes the screen without creating an A/R Account assignment, returning you to the previous screen.
- SAVE
Creates the A/R Account assignment and adds it to the master list of A/R Account assignments.