PDS Tips & Slices: On Account and Credit Memo

  • Print

A recommended part of month end processing is to print the On Account and Credit Memo report and apply any open On Accounts or Credit Memos to the open invoices.

The On Account and Credit Memo report can be found on the Accounts Receivable, Customer Statement Processing Selector.

After printing the report start a cash receipts batch in Cash Receipts Entry, enter the Batch Number, Deposit Date, Comment if applicable; then enter the customer number, check number, payment type and ZERO cash amount.

When the header screen is accepted the Open Invoices, Credit Memos and On Accounts will be displayed. Select the Credit Memos and On Accounts first, this will increase the apply balance. Once you have selected the Credit Memos and On Accounts then apply the APPLY BALANCE to the open invoices.

Finalize the transaction by printing and accepting the Cash Receipts Journal:

  • When the Accounts Receivable Purge is processed the paid invoices for the month will be removed from the Accounts Receivable Open Invoices Inquiry and will be updated to the Paid Invoice File Inquiry; which is accessible from the A/R Master File Inquiry.

Eleanor Renkun is a Software Consultant specializing in PDS. She can be reached at 203.639.3900.

PDS Tips & Slices: Accounts Payable Invoices

  • Print

Eleanor Renkun hows how Accounts Payable invoices can be selected for payment by choosing individual vendor invoices, discount eligible invoices due by a specific date, all invoices due by a specific date or all invoices due by a specific data for a single vendor.

To view the article in its entirety, login to the E&A Forum at www.earnestassoc.com.

PDS Tips & Slices: Void Check

  • Print

PDS software users must use Void Check if the check register has been printed and accepted.

Manual/Reversing/Non-Vendor Payments ScreenWhen voiding a check, only a check that is in the current month will automatically populate the fields. If the check is from a prior month the data will have to be manually entered. The system will prompt for the gross, discount and net amount of the check.

When distributing the check to the general ledger accounts the distribution must equal the gross amount. For customers who have the option to restore the invoices when voiding a check, if the invoices are to be restored the gross amount should be distributed to the accounts payable account and not the expense accounts.

To view the full story, login to the E&A Forum at www.earnestassoc.com/forum.