Accounts Receivable End of Month Procedure
STEP 1: Accounts Receivable Re-cap
From the Main Menu, Shift F10 to the Account Receivable Menu
f4 – Miscellaneous
f4 – Accounts Receivable Re-Cap
The Accounts Receivable Re-Cap calculates your monthly totals and gives you the ability generate a one page sheet that can be used for balancing your monthly accounts. The totals on this report include finance charges, but the finance charges are not actually applied to the accounts until you Age and Clear after the statements are ran.
NOTE: Only Age and Clear ONCE and month.
STEP 2: List of Accounts
From the Accounts Receivable Menu, press f1 – Accounts
f3 – List (detailed)
There are a number of different options that you can select for this report, make sure that you answer the “Calculate current finance charge” “Y” for YES and the “Detail transaction listing” “Y” for YES. This function will print out a report that is used as the Aged Trial Balance. It will list each account, their aged balances, and the activity that appear on their accounts. NOTE: Even though the balances are aged on this report, and finance charges are applied on this report, finance charges are not actually applied to the accounts until you Age and Clear after the statements are ran. The amounts on this report should match the statements.
STEP 3: Running Statements
From the Accounts Receivable Menu, f3 – Statements
The system will warn you that you need to run an A/R Re-Cap before running the statements, which was generated in STEP 1. Select f1 to continue printing the statements. The system now gives you a number of options concerning end of year functions (clearing year to date medical expenses, etc.), these options would only be answered “Y” for yes at the end of your year. Press f1 to continue. The system will print one statement that is used as an alignment copy and give you the option to print another alignment copy (to help you align the statements) or to proceed with the statement printing. When you have the statements aligned, press f1 to proceed with the statement printing. The system will now generate the statements. When the statements are complete, the option prompts you to Age and Clear. ONLY AGE IF THE STATEMENTS HAVE PRINTED OUT CORRECTLY. IF YOU HAVE HAD A PROBLEM WITH THE STATEMENTS (PAPER JAM, Etc.) DO NOT AGE AND CLEAR. TERMINATE OUT AND RE-PRINT THE NECESSARY STATEMENTS. When you are satisfied, go ahead and Age and Clear.
NOTE: If you wish, you can print your statements, and then terminate without Aging and Clearing. Check your statements. And then you can manually Age and Clear by going into f4 – Miscellaneous from the Accounts Receivable Menu, and then selecting f5 – Age and Clear. IF YOU CHOOSE TO DO THIS, YOU MUST PRINT YOUR STATEMENTS, CHECK YOUR STATEMENTS AND THEN AGE AND CLEAR BEFORE ANYMORE TRANSACTIONS, HAND ENTERED OR AUTO-CHARGED, ARE POSTED TO ANY ACCOUNTS.
NOTE: Only Age and Clear ONCE and month.