273099511-accounts-receivable-pdf.pdf

Epicor ERP Accounts Receivable Course 10.0.700.2

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ED807905 90521-10-9203-58310702 10.0.700.2 Revision: July 25, 2014 1:25 a.m. Total pages: 110 course.ditaval

Accounts Receivable Course

Contents

Contents Accounts Receivable Course............................. Course........................................... ............................. ............................. ............................. ..........................9 ...........9 Before You Begin............................ Begin.......................................... ............................. ............................. ............................ ............................. ............................. ..............10 10 Audience..................... Audi ence................................. ........................ ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... ........................ .............10 .10 Prerequisi Prereq uisites................. tes............................. ....................... ....................... ........................ ....................... ....................... ........................ ........................ ....................... ....................... ........................ ............10 10 Environment Setup...................... Setup.................................. ....................... ....................... ........................ ........................ ....................... ....................... ........................ ....................... ....................11 .........11 Workshop Constraints.................. Constraints.............................. ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... .............12 .12

Overview.............. Overvie w............................. ............................. ............................. ............................. ............................. ............................. ............................ ..........................13 ............13 Application Setup........................... Setup......................................... ............................. ............................. ............................ ............................. ............................. ..............14 14 Company Configuration.................... Configuration................................ ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... ...............14 ...14 Workshop - Select AR Deposit Tracking Settings.................... Settings............................... ....................... ........................ ........................ ....................... ..................16 .......16 Maintenance Programs.................. Programs.............................. ....................... ....................... ........................ ....................... ....................... ........................ ........................ ....................... ..................17 .......17 Aging Report Format Maintenance.................... Maintenance................................ ........................ ....................... ....................... ........................ ....................... ....................... ...............17 ...17 Pay Method Maintenance..................... Maintenance................................ ....................... ........................ ....................... ....................... ........................ ....................... ....................... .................17 .....17 Workshop - Create a Payment Method..................... Method................................. ....................... ....................... ........................ ....................... ....................... .............18 .18 Bank Account Maintenance.................... Maintenance............................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... ...............19 ...19 Bank Account Maintenance Sheets..................... Sheets................................. ....................... ....................... ........................ ........................ ....................... ..................19 .......19 Workshop - Add an AR Payment Method to a Bank..................... Bank................................. ........................ ....................... ....................... .................20 .....20 Debit Notes Only Bank Account.................. Account.............................. ........................ ....................... ....................... ........................ ....................... ....................... ...............20 ...20 Workshop - Create a Bank Account for Debit Notes Only............................. Only........................................ ....................... .................20 .....20 Product Group Maintenance..................... Maintenance................................ ....................... ........................ ....................... ....................... ........................ ....................... ....................... .............21 .21 Terms Maintenance.................... Maintenance................................ ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... ...............22 ...22 Workshop - Create a Terms Record for Multiple Payments................... Payments............................... ........................ ....................... ....................23 .........23 Workshop - Create a Term with Multiple Discounts................... Discounts............................... ........................ ....................... ....................... ...................24 .......24 Create a Terms ID....................... ID.................................. ....................... ........................ ....................... ....................... ........................ ....................... ....................... .............24 .24 Add Discounts to the Terms ID...................... ID.................................. ....................... ....................... ........................ ....................... ....................... .................24 .....24 Update a Customer Record..................... Record................................. ........................ ....................... ....................... ........................ ....................... ......................25 ...........25 Recurring Cycle Maintenance.................... Maintenance............................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... .............25 .25 Workshop - Add a New Recurring Cycle..................... Cycle................................. ....................... ....................... ........................ ....................... ......................25 ...........25 Miscellaneous Charge Maintenance................... Maintenance............................... ........................ ....................... ....................... ........................ ....................... ....................... ...............26 ...26 Workshop - Enter a Miscellaneous Charge.................... Charge............................... ....................... ........................ ........................ ....................... ....................27 .........27 Add a Miscellaneous Charge Code.................... Code................................ ....................... ....................... ........................ ....................... ....................... .............27 .27 Attach a GL Control to the Charge.................... Charge................................ ....................... ....................... ........................ ....................... ....................... .............27 .27 Tax Setup..................... Setup................................. ........................ ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... .................27 .....27 Tax Allocation...................... Allocation.................................. ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... ...............28 ...28 Tax Type Maintenance..................... Maintenance................................ ....................... ........................ ....................... ....................... ........................ ....................... ....................... ...............29 ...29 Workshop - Enter a Tax Type..................... Type................................. ....................... ....................... ........................ ........................ ....................... ....................30 .........30 Tax Liability Maintenance..................... Maintenance................................ ....................... ........................ ....................... ....................... ........................ ....................... ......................31 ...........31 Workshop - Configure a Tax Liability....................... Liability.................................. ....................... ........................ ....................... ....................... ...................32 .......32 Product Tax Category Maintenance.................... Maintenance................................ ....................... ....................... ........................ ........................ ....................... ..................33 .......33 Workshop - Enter a Tax Category.................. Category.............................. ....................... ....................... ........................ ....................... ....................... .................33 .....33

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Tax Jurisdiction Maintenance.................... Maintenance................................ ........................ ....................... ....................... ........................ ....................... ....................... .................34 .....34 Tax Authority Maintenance................... Maintenance............................... ........................ ........................ ....................... ....................... ........................ ....................... ....................34 .........34 Customer Maintenance.................... Maintenance............................... ....................... ........................ ........................ ....................... ....................... ........................ ....................... ....................35 .........35 Detail Sheet..................... Sheet................................. ....................... ....................... ........................ ....................... ....................... ........................ ........................ ....................... ..................35 .......35 Billing Sheets..................... Sheets................................. ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... .................37 .....37 Tax Exemptions Sheet...................... Sheet................................. ....................... ........................ ....................... ....................... ........................ ....................... ....................... ...............38 ...38 Banks Sheet..................... Sheet................................. ....................... ....................... ........................ ....................... ....................... ........................ ........................ ....................... ..................38 .......38 Workshop - Enter a Customer Record..................... Record................................. ....................... ....................... ........................ ....................... ....................... ...............38 ...38 Enter Customer Details.................... Details................................ ........................ ....................... ....................... ........................ ........................ ....................... ..................39 .......39 Update Customer Terms and Tax Liability........................ Liability................................... ....................... ........................ ....................... ......................39 ...........39 Enter Bill To Information.................... Information................................ ........................ ....................... ....................... ........................ ....................... ....................... .................39 .....39 Enter Credit Detail...................... Detail................................. ....................... ........................ ....................... ....................... ........................ ....................... ....................... .............40 .40 Enter Ship To Information.................... Information................................ ........................ ....................... ....................... ........................ ....................... ....................... ...............40 ...40 Enter Contact Information................... Information............................... ........................ ....................... ....................... ........................ ....................... ....................... ...............41 ...41 Workshop - Review and Modify a Customer Record........................... Record....................................... ........................ ....................... ......................41 ...........41 Contact Tracker................... Tracker............................... ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... ...............42 ...42 Electronic Interface Maintenance................... Maintenance............................... ........................ ....................... ....................... ........................ ........................ ....................... ..................42 .......42 National Accounts.................. Accounts.............................. ....................... ....................... ........................ ....................... ....................... ........................ ........................ ....................... ..................43 .......43 National Account Relationship Maintenance..................... Maintenance................................ ....................... ........................ ....................... ....................... .................43 .....43 Workshop - Update a National Account Relationship Record.................... Record................................ ....................... ....................... .................44 .....44 Review a National Account Relationship...................... Relationship................................. ....................... ........................ ....................... ....................... ...............44 ...44 Add a Child Customer................. Customer............................. ........................ ........................ ....................... ....................... ........................ ....................... ......................44 ...........44 Share a Credit Pool with a Child...................... Child.................................. ....................... ....................... ........................ ....................... ....................... ...............44 ...44 Update a Child Customer's Credit................... Credit............................... ....................... ....................... ........................ ....................... ....................... ...............45 ...45 Finance/Late Charge Maintenance................... Maintenance............................... ........................ ....................... ....................... ........................ ....................... ....................... .................45 .....45 Workshop - Create and Assign a Finance Charge.................... Charge............................... ....................... ........................ ....................... ......................46 ...........46 Create a Finance Charge Code.................... Code................................ ....................... ....................... ........................ ........................ ....................... ..................46 .......46 Enter a Finance Charge Rate...................... Rate.................................. ........................ ....................... ....................... ........................ ....................... ....................46 .........46 Assign a GL Control Code..................... Code................................. ........................ ....................... ....................... ........................ ....................... ....................... .............47 .47 Add the Finance Charge Code to a Customer Record........................... Record....................................... ....................... ....................... .............47 .47 Process Finance/Late Charges................... Charges............................... ........................ ....................... ....................... ........................ ....................... ....................... .................47 .....47 Workshop - Process Late Charges.................... Charges................................ ....................... ....................... ........................ ....................... ....................... ...............48 ...48 Reminder Group Maintenance.................... Maintenance............................... ....................... ........................ ....................... ....................... ........................ ....................... ......................49 ...........49 Workshop - Create and Assign a Reminder Group.................... Group............................... ....................... ........................ ....................... ....................49 .........49 Create a Reminder Group.................... Group................................ ........................ ....................... ....................... ........................ ....................... ....................... ...............49 ...49 Design a Reminder Sequence.................... Sequence................................ ........................ ....................... ....................... ........................ ....................... ....................50 .........50 Assign a Reminder Group.................... Group................................ ........................ ....................... ....................... ........................ ....................... ....................... ...............50 ...50 Reminder Letter Generation.................. Generation.............................. ........................ ........................ ....................... ....................... ........................ ....................... ....................51 .........51 Workshop - Generate and Post a Reminder Letter............................. Letter......................................... ....................... ....................... .................51 .....51

Daily Accounts Receivable Processing............................ Processing........................................... ............................. ............................. ........................53 .........53 AR Invoice Entry................... Entry............................... ........................ ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... .................53 .....53 Actions Menu..................... Menu................................. ........................ ....................... ....................... ........................ ....................... ....................... ........................ ....................... ......................53 ...........53 Transfer.............................. Transfer.......................................... ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... ................53 ....53 Locate Invoice Group..................... Group................................ ....................... ........................ ....................... ....................... ........................ ....................... ....................... .................54 .....54 Copy Invoice Lines....................... Lines.................................. ....................... ........................ ....................... ....................... ........................ ........................ ....................... ..................54 .......54

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Epicor ERP | 10.0.700.2


Contents

AR Invoice Types..................... Types................................. ....................... ....................... ........................ ....................... ....................... ........................ ........................ ....................... ..................54 .......54 Advance Billing Invoices...................... Invoices................................. ....................... ........................ ....................... ....................... ........................ ........................ ....................... ..................55 .......55 Workshop - Create Advance Billing Invoices...................... Invoices................................. ....................... ........................ ....................... ....................... .................55 .....55 Create an Invoice Group.................... Group................................ ........................ ....................... ....................... ........................ ....................... ....................... .................55 .....55 Add an Advance Billing Invoice Header.................... Header............................... ....................... ........................ ....................... ....................... ...................55 .......55 Add a Line...................... Line.................................. ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... .............56 .56 Add an Additional Line...................... Line.................................. ........................ ....................... ....................... ........................ ....................... ....................... .................56 .....56 Create Another Advance Billing Invoice....................... Invoice.................................. ....................... ........................ ....................... ....................... ...............56 ...56 Add a Line...................... Line.................................. ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... .............57 .57 Print Preview the Invoice Group Edit List...................... List................................. ....................... ........................ ....................... ....................... ...............57 ...57 Post the Invoice Group.................... Group................................ ........................ ....................... ....................... ........................ ........................ ....................... ..................57 .......57 Deposit Billing Invoices...................... Invoices................................. ....................... ........................ ........................ ....................... ....................... ........................ ....................... ....................57 .........57 Workshop - Enter a Deposit Billing Invoice........................ Invoice................................... ....................... ........................ ....................... ....................... .................58 .....58 Enter a Deposit Billing Invoice Header.................... Header............................... ....................... ........................ ........................ ....................... ....................58 .........58 Add Deposit Information................... Information............................... ........................ ....................... ....................... ........................ ....................... ....................... .................58 .....58 Post the Invoice Group.................... Group................................ ........................ ....................... ....................... ........................ ........................ ....................... ..................58 .......58 Advanced Billing/Deposit Balance Report..................... Report................................. ....................... ....................... ........................ ....................... ....................... .................59 .....59 Workshop - View Sales Order Balances..................... Balances................................. ....................... ....................... ........................ ....................... ....................... .............59 .59 Sales Order Tracker................... Tracker............................... ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... .................60 .....60 Workshop - Use the Sales Order Tracker................... Tracker............................... ....................... ....................... ........................ ....................... ....................... .............60 .60 Customer Statements................. Statements............................. ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... ...............61 ...61 Commission Report.................... Report................................ ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... ...............61 ...61 Sales Tax Report..................... Report................................. ....................... ....................... ........................ ....................... ....................... ........................ ........................ ....................... ..................61 .......61 Shipment Invoices....................... Invoices................................... ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... ...............61 ...61 Workshop - Ship Customer Orders................... Orders............................... ........................ ....................... ....................... ........................ ....................... ....................62 .........62 Ship Sales Order Lines..................... Lines................................. ........................ ....................... ....................... ........................ ........................ ....................... ..................62 .......62 Add a Miscellaneous Charge................... Charge............................... ........................ ....................... ....................... ........................ ....................... ......................63 ...........63 Workshop - Invoice Shipments.................... Shipments................................ ........................ ....................... ....................... ........................ ....................... ....................... ...............63 ...63 Create an Invoice Group.................... Group................................ ........................ ....................... ....................... ........................ ....................... ....................... .................63 .....63 Generate Shipment Invoices...................... Invoices.................................. ........................ ....................... ....................... ........................ ....................... ....................64 .........64 Review Miscellaneous Charge Information..................... Information................................ ....................... ........................ ....................... ....................... .............64 .64 Post the Invoice Group.................... Group................................ ........................ ....................... ....................... ........................ ........................ ....................... ..................64 .......64 Shipped Not Invoiced Report.................... Report................................ ........................ ....................... ....................... ........................ ....................... ....................... .................64 .....64 Cancellation Invoices...................... Invoices.................................. ....................... ....................... ........................ ....................... ....................... ........................ ....................... ......................65 ...........65 Workshop - Cancel a Posted Invoice....................... Invoice................................... ....................... ....................... ........................ ....................... ....................... ...............65 ...65 Credit Memo Entry..................... Entry................................. ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... ...............66 ...66 Workshop - Create Credit Memos.................... Memos................................ ........................ ....................... ....................... ........................ ....................... ....................66 .........66 Create an Invoice Group.................... Group................................ ........................ ....................... ....................... ........................ ....................... ....................... .................66 .....66 Enter a Credit Memo Header................... Header............................... ........................ ....................... ....................... ........................ ....................... ......................67 ...........67 Add a Line Miscellaneous Charge.................... Charge................................ ....................... ....................... ........................ ....................... ....................... ...............67 ...67 Create an Advance Billing Credit Memo.................... Memo............................... ....................... ........................ ....................... ....................... .................67 .....67 Add a Line...................... Line.................................. ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... .............67 .67 Post the Credit Memos Group..................... Group................................. ....................... ....................... ........................ ........................ ....................... ..................68 .......68 Miscellaneous Invoices...................... Invoices................................. ....................... ........................ ........................ ....................... ....................... ........................ ....................... ....................68 .........68 Adjust Sales Accounts on AR Invoice Lines...................... Lines................................. ....................... ........................ ........................ ....................... ..................68 .......68

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Workshop - Enter a Miscellaneous Invoice....................... Invoice.................................. ....................... ........................ ....................... ....................... ...................68 .......68 Create an Invoice Group.................... Group................................ ........................ ....................... ....................... ........................ ....................... ....................... .................68 .....68 Create a Miscellaneous Invoice...................... Invoice.................................. ....................... ....................... ........................ ....................... ....................... .................68 .....68 Enter Line Information................... Information............................... ........................ ........................ ....................... ....................... ........................ ....................... ....................69 .........69 Review the Payment Schedule..................... Schedule................................. ....................... ....................... ........................ ........................ ....................... ..................69 .......69 Print the Invoice....................... Invoice.................................. ....................... ........................ ....................... ....................... ........................ ....................... ....................... ...............69 ...69 Workshop - Update the Sales Account on a Miscellaneous AR Invoice Line............................. Line......................................69 .........69 Workshop - Create a Miscellaneous Invoice for Tax Only...................... Only.................................. ........................ ....................... ....................70 .........70 Create an Invoice Group.................... Group................................ ........................ ....................... ....................... ........................ ....................... ....................... .................70 .....70 Create a Miscellaneous Invoice...................... Invoice.................................. ....................... ....................... ........................ ....................... ....................... .................70 .....70 Add Tax to an Empty Invoice Line...................... Line.................................. ....................... ....................... ........................ ....................... ....................... .............70 .70 Workshop - Create an Additional Miscellaneous Invoice....................... Invoice................................... ........................ ....................... ....................71 .........71 Update a Line Record.................... Record................................ ........................ ........................ ....................... ....................... ........................ ....................... ....................71 .........71 Print Preview the Edit List..................... List................................. ........................ ....................... ....................... ........................ ....................... ....................... ...............71 ...71 Post the Invoice Group.................... Group................................ ........................ ....................... ....................... ........................ ........................ ....................... ..................71 .......71 Recurring Invoices....................... Invoices................................... ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... ...............72 ...72 Workshop - Create a Recurring Source AR Invoice....................... Invoice................................... ........................ ....................... ....................... .................72 .....72 Post the Invoice Group.................... Group................................ ........................ ....................... ....................... ........................ ........................ ....................... ..................73 .......73 Workshop - Create a Single Recurring AR Invoice.......... I nvoice..................... ....................... ........................ ........................ ....................... ....................73 .........73 Workshop - Generate Recurring AR Invoices....................... Invoices.................................. ....................... ........................ ....................... ....................... ...............74 ...74 Retrieve Generated Invoices..................... Invoices................................. ........................ ....................... ....................... ........................ ....................... ......................74 ...........74 Correction Invoices....................... Invoices................................... ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... .............74 .74 Workshop - Create a Correction Invoice...................... Invoice.................................. ....................... ....................... ........................ ....................... ......................74 ...........74 AR Aged Receivables Report..................... Report................................ ....................... ........................ ....................... ....................... ........................ ....................... ....................... .............75 .75 Workshop - Use the Aged Receivables Report..................... Report................................ ....................... ........................ ....................... ....................... ...............76 ...76 G/L Distribution Report..................... Report................................ ....................... ........................ ........................ ....................... ....................... ........................ ....................... ....................76 .........76 AR Invoice Tracker.................... Tracker................................ ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... .................76 .....76 Cash Receipts Entry.................... Entry................................ ........................ ....................... ....................... ........................ ....................... ....................... ........................ ....................... ......................77 ...........77 Invoice Payments.................. Payments.............................. ....................... ....................... ........................ ........................ ....................... ....................... ........................ ....................... ....................78 .........78 Invoice Selection...................... Selection.................................. ....................... ....................... ........................ ....................... ....................... ........................ ....................... ......................79 ...........79 Workshop - Apply Payment and Cancellation Invoice to Open Invoices........................... Invoices....................................... .................79 .....79 Create a Cash Receipt Entry Group.................... Group................................ ....................... ....................... ........................ ....................... ....................... .............79 .79 Add an Invoice Payment.................. Payment.............................. ........................ ....................... ....................... ........................ ........................ ....................... ..................79 .......79 Select Invoices to Pay..................... Pay................................. ........................ ........................ ....................... ....................... ........................ ....................... ....................80 .........80 Workshop - Apply Cash and a Credit Memo to Invoices............................... Invoices........................................... ....................... ....................... .............80 .80 Create an Invoice Payment.................... Payment................................ ........................ ....................... ....................... ........................ ....................... ....................... .............80 .80 Select Invoices to Pay and a Credit Memo to Apply............................... Apply........................................... ....................... ....................... .............80 .80 Allow Unapplied Cash to Post..................... Post................................. ....................... ....................... ........................ ........................ ....................... ..................80 .......80 Miscellaneous Payments................... Payments.............................. ....................... ........................ ........................ ....................... ....................... ........................ ....................... ....................81 .........81 Workshop - Enter a Miscellaneous Cash Payment................... Payment.............................. ....................... ........................ ....................... ......................81 ...........81 Prepayments............................... Prepayments................... ....................... ....................... ........................ ....................... ....................... ........................ ....................... ....................... ........................ ...............81 ...81 Workshop - Enter Deposit Payments................... Payments............................... ....................... ....................... ........................ ........................ ....................... ..................82 .......82 Enter an Unallocated Deposit Payment.................... Payment............................... ....................... ........................ ........................ ....................... ..................82 .......82 Enter an Allocated Deposit Payment.................... Payment................................ ....................... ....................... ........................ ....................... ......................82 ...........82 Workshop - Post a Cash Receipt Group.................... Group................................ ....................... ....................... ........................ ....................... ....................... .............83 .83

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Epicor ERP | 10.0.700.2


Contents

Workshop - Convert a Deposit Payment to a Deposit Invoice...........................................................83 Debit Notes............................................................................................................................................84 Workshop - Post a Debit Note.........................................................................................................84 Enter a Debit Notes Only Group...............................................................................................84 Enter an Invoice Payment.........................................................................................................84 Enter a Debit Note without Specifying an Invoice......................................................................84 Place the Debit Note On Account.............................................................................................85 Post the Debit Note..................................................................................................................85 Credit Card Processing............................................................................................................................85 Invoice Discount Analysis Report.............................................................................................................85 Cash Receipt Tracker..............................................................................................................................86 Apply Document............................................................................................................................................86 Workshop - Apply Document..................................................................................................................87 Select a Document to Apply............................................................................................................87 Select an Invoice..............................................................................................................................87 Apply the Document.......................................................................................................................88 Workshop - Apply a Credit Memo to an Open Invoice.............................................................................88 Select a Credit Memo......................................................................................................................88 Select an Invoice to Credit...............................................................................................................88 Apply the Credit Memo...................................................................................................................89 Reverse Cash Receipt.....................................................................................................................................89 Workshop - Reverse a Posted Cash Receipt and Review Results...............................................................90 Reverse a Cash Receipt....................................................................................................................90 Review the Customer Tracker..........................................................................................................90

Specialized Accounts Receivable Processing......................................................................92 AR Write Off and Adjustment........................................................................................................................92 Workshop - Write Off a Customer's Bad Debt.........................................................................................93 Customer Credit Manager.............................................................................................................................93 Workshop - Manage Customer Records..................................................................................................94 Review a Customer's Credit.............................................................................................................94 Enter a Sales Order..........................................................................................................................94 View Customer Orders and Credit...................................................................................................95 Update Customer Credit Preferences...............................................................................................95 Recalculate the Credit National Account..........................................................................................95 Workshop - Perform a Mass Credit Information Update..........................................................................96 Enter a Sales Order..........................................................................................................................96 Mass Update a Customer's Credit....................................................................................................96

Conclusion.............................................................................................................................98 Appendix...............................................................................................................................99 Epicor ERP Accounts Receivable Transaction Hierarchy....................................................................................99 AR Invoice Entry - Add Invoice................................................................................................................99 AR Invoice Entry - Action Menu............................................................................................................102 AR Invoice Entry - Discounts and Taxes.................................................................................................103 Cash Receipt Entry................................................................................................................................104

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Contents


Apply Document...................................................................................................................................106 Reverse Cash Receipt............................................................................................................................107 AR Write Off and Adjustment...............................................................................................................108 Payment Instrument (PI) Receivable Entry..............................................................................................108

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Accounts Receivable Course This course reviews the Accounts Receivable (AR) module's concepts and reporting tools. Topics of discussion include maintenance program setup, various AR processes, and how to recognize the impact these processes have on the general ledger (GL). Throughout the course, hands-on workshops guide you through these topics. Upon successful completion of this course, you will be able to: •

Identify the company configuration and maintenance programs that relate to the AR processing cycle.

•

Complete the AR sales order - payment cycle by using the process and transaction flow as a guideli ne.

•

Complete the sales tax setup.

•

Use national account relationships.

•

Create reminder groups and generate customer reminder letters.

•

Differentiate between the AR invoice types.

•

Enter and use debit notes, miscellaneous cash receipts, deposit cash receipts, and AR prepayments.

•

Reverse a cash receipt and identify situations when that action is applicable.

•

Use AR write offs and adjustments.

•

Apply credit memos and prepayments to invoices and cash receipts.

•

Manage customer records.

•

Identify documents, reports, and records necessary to track the AR cycle.

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Before You Begin


Before You Begin Read this topic for information you should know in order to successfully complete this course.

Audience Specific audiences will benefit from this course. •

AR Clerk

•

CFO/Controller

•

Cost Accountant

Prerequisites To complete the workshops in this course, the necessary modules must be licensed and operating i n your training environment. For more information on the modules available, contact your Epicor Customer Account Manager at [email protected]. It is also important you understand the prerequisite knowledge contained in other valuable courses.

10

•

Navigation Course - This course introduces navigational aspects of the Epicor application's user interface. Designed for a hands-on environment, general navigation principles and techniques available in two user interface modes - Classic Menu and Modern Shell Menu. Workshops focus on each of these modes and guide you through each navigational principle introduced.

•

System Flow Course - This course introduces a basic quote to cash scenario that includes the process from the initial customer quote to final cash receipts and payment of supplier invoices. This course emphasizes the series of processes that make up the quote to cash process by using a simple scenario to highlight various transactions. Your organization may have more complex processing routines than those described in this course.

•

Financial Foundations Course - This course introduces you to the maintenance modules and programs in the Epicor application that set the basis for the financial activities within your company.

•

General Ledger Course - This course provides a clear perspective of the maintenance programs, concepts, processes, and reporting tools you encounter as you work within the General Ledger (GL) module.

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Before You Begin

Environment Setup The environment setup steps and potential workshop constraints must be reviewed in order to successfully complete the workshops in this course. Your Epicor training environment, in which the Epicor demonstration database is found, enables you to experience Epicor functionality in action but does not affect data in your live, production environment. The following steps must be taken to successfully complete the workshops in this course. 1.

Verify the following or ask your system administrator to verify for you: •

Your Epicor training icon (or web address if you are using Epicor Web Access) points to your Epicor training environment with the Epicor demonstration database installed. Do not complete the course workshops in your live, production environment. Note It is recommended that multiple Epi cor demonstration databases are installed. Contact Support or Systems Consulting for billable assistance.

•

The Epicor demonstration database is at the same service pack and patch as the Epicor application. Epicor's education team updates the Epicor demonstration database for each service pack and patch. If your system administrator upgrades your Epicor application to a new service pack or patch, he or she must also download the corresponding Epi cor demonstration database from EPICweb > Support > Epicor > Downloads and install it. If this is not performed, unexpected resul ts can occur when completing the course workshops.

•

Your system administrator restored (refreshed) the Epicor demonstration database prior to starting this course. The Epicor demonstration database comes standard with parts, customers, sales orders, and so on, already defined. If the Epicor demonstration database is shared with multiple users (that is, the database is located on a server and users access the same data, much like your live, production environment) and is not periodically refreshed, unexpected results can occur. For example, if a course workshop requires you to ship a sales order that came standard in the Epicor demonstration database, but a different user already completed this workshop and the Epicor demonstration database was not restored (refreshed), then you will not be able to ship the sales order. Epicor's education team has written the course workshops to minimize situations like this from occurring, but Epicor cannot prevent users from manipulating the data in your installation of the Epicor demonstration database.

2.

Log in to the training environment using the credentials manager/manager. If you are logged into your training environment as a different user, from the Options menu, select Change User.

3.

From the Main menu, select the company Epicor Education (EPIC06).

4.

From the Main menu, select the Main Site.

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Before You Begin


Workshop Constraints Below is a list of workshops in this course that can be performed only once in each instance of a restored (refreshed) database. Where applicable, a detailed explanation of the workshop constraints is documented in the workshop itself. Note Multiple users can complete some of the workshops listed below if the Duplicating Sales Order Option is implemented. This option and steps to execute it are also listed below. •

Workshop - Add an AR Pay Method to a Bank

•

Workshop - Update a National Account Relationship

•

Workshop - Create and Assign a Reminder Group

•

Workshop - Generate and Post a Reminder Letter

•

Workshop - Create Advanced Billing Invoices

•

Workshop - Enter a Deposit Billing Invoice

•

Workshop - Cancel a Posted Invoice

•

Workshop - Enter a Deposit Payment

•

Workshop - Reverse a Posted Cash Receipt and Review Results

•

Workshop - Write Off a Customer's Bad Debt

•

Workshop - Manage Customer Records

Duplicating Sales Orders Option

Throughout this course, multiple staged sales orders are used to provide training on various accounts receivable functionality. If you are working on a shared database, you may encounter a sales order that has already been closed. In this case, follow the steps below to duplicate the necessary sales order to complete the workshops. 1.

Navigate to Sales Order Entry.

2.

In the Sales Order field, enter the sales order number to duplicate.

3.

From the Actions menu, select Order > Copy Order. The new, duplicated sales order is created. It is essential to track duplicated sales order numbers with the original sales order numbers. The course refers to the original sales order number throughout the course and must be replaced with the appropriate duplicate sales order number.

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Overview

Overview Key Concepts of Accounts Receivable Processing •

In an interfaced environment, use general ledger (GL) control codes and GL control types to define accounts receivable (AR) accounts and sales-related GL accounts.

•

Optional use of an AR clearing account controls the timing of Cost of Sales (COS) posting.

•

Invoices and cash receipts are posted to the GL via the posting engine.

Typical Sales Order to Payment Process Flow 1.

Process sales order

2.

Ship goods

3.

Invoice customer

4.

Receive payment

5.

Post cash

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13

Application Setup


Application Setup This section of the course reviews the key company and maintenance program configuration factors applicable to the Accounts Receivable (AR) cycle. This course does not review and discuss each program and field that contributes to the AR processes. After you complete this course, if you want to l earn more about programs or fields that were not mentioned, refer to the Application Help. The Application Help documents and defines programs, fields, and operations that relate to each module contained within your application.

Company Configuration Company Configuration specifies company level general ledger (GL) controls for Accounts Receivable (AR), as well as other modules. The Epicor application uses these controls if a higher level control is not available when a GL transaction posts.

Only the Company Configuration fields specific to the Accounts Receivable process are covered in this course. Refer to the Application Help to define other fields of interest. List Sheet

Use the Modules > All Modules > GL Control > List sheet to specify the company's default GL control for Accounts Receivable. The Epicor application uses this control i f no other control is available when a general ledger transaction is posted. More information on GL controls is available in the Application Help and the General Ledger course. General Sheet

Use the Modules > Finance > Accounts Receivable > General sheet to set defaults that affect the operation of Accounts Receivable processes and programs. Select important information, such as your company's starting invoice number, methods for sales tax usage, and finance charge options, on this sheet. Other settings defined on this sheet are as follows: •

Select the Use A/R Clearing Accounting check box if your company plans to post to an AR clearing account when shipments are made.

•

Select the AR Invoices and Credit Memos check box if your company requires l egal numbers on these specific business document types.

•

Select the Allow Invoice Settlement in a Different Currency check box to indicate that an AR invoice can be created first in one currency but then paid in a different currency.

•

Select the Enable Invoice Dates Setup check box to allow the definition of options that set defaults for and behaviors of AR invoice date fields. Selecting this check box activates the fields within the Invoice Dates Set Up pane. The selections made in these fields help support your company's tax reporting requirements and enforce consistency among dates entered in AR Invoice Entry.

For more information on A/R Clearing Accounting, Legal Numbers, Multi-Currency options and Invoice Dates Setup fields, refer to the Application Help.

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Application Setup

National Accounts Sheet

Use the Modules > Finance > Accounts Receivable > National Accounts sheet to designate relationship classes used to define national accounts. This sheet specifies the classes used to define credit sharing, reporting, and payer sold-to accounts. •

Credit sharing - National account customers can share credit. Implementation of this functionality requires the selection of a tiered relationship class in the Credit Checking field.

•

Reporting - National accounts can define reporting relationships based on markets or other criteria. Implementation of this functionality requires selection of a tiered relationship class in the Reports field.

•

Payer Bill-To Relationships - National accounts can establish payer-sold-to relationships, in which a payer customer pays for a sold to customer that receives i nvoices. Implementation of this functionality requires the selection of a non-tiered relationship class in the Payer-Bill To field.

Individual Deposit Invoice Tracking

Use the Modules > Finance > Accounts Receivable > Individual Deposit Invoice Tracking sheet to set up deposit invoice handling for tax purposes. Tax will be calculated based on the tax treatment selected. •

Invoice Deposit Tax Treatment - Specifies the tax treatment to use for an invoice deposit. The default is No Tax (to be allocated against a sales order without tax implications). The valid options are: No Tax, Tax Shipment Net movement, Reverse tax on shipment invoice, and Reverse tax by invoice match (selection used for unallocated deposit payments).

•

Product Tax Category - Specifies the product tax category used for deposit invoices.

•

Require Deposit Invoice - Indicates whether a deposit invoice is required.

•

Invoice Days Delay - Specifies the number of days allowed for an invoice delay.

•

Deposit Transaction Document Type - Specifies the transaction document type for the AR invoice system type.

•

Deposit Invoices show prior linked Deposit Invoices - Specifies whether a deposit invoice shows a prior linked deposit invoice.

•

Allow shipment invoice with negative net tax elements - Enabled only when Invoice Deposit Tax Treatment has been set to Reverse tax by invoice match. Allows a shipment invoice with negative net tax elements when selected.

Menu Path

Navigate to this program from the Main Menu: •

System Setup > Company/Site Maintenance > Company Configuration

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Application Setup


Workshop - Select AR Deposit Tracking Settings In this workshop, set up the capability of processing unallocated deposit payments by selecting the necessary settings in Company Configuration. You will be working with unallocated deposit payments later in this course. Navigate to Company Configuration. Menu Path: System Setup > Company/Site Maintenance > Company Maintenance Important This program is not available in the Epicor Web Access.

1. Navigate to Modules > Finance > Accounts Receivable > Individual Deposit Invoice Tracking. 2. From the Invoice Deposit Tax Treatment field, select Reverse tax by invoice match. 3. Clear the Require Deposit Invoice check box. 4. Click Save. 5. Exit Company Configuration.

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Application Setup

Maintenance Programs This section of the course reviews the most significant maintenance programs applicable to the AR processing cycle. In many cases, some fields within a program are not described. If you are interested in learning more about specific program fields, refer to the Application Help.

Aging Report Format Maintenance Use Aging Report Format Maintenance to define aging methods. Aging Report Format Maintenance is shared by the Accounts Receivable (AR) and Accounts Payable (AP) modules. Each module has multiple aging formats available to select on various records. Although you can use different aging method formats on the AR Aged Receivables and AP Aged Payables reports, they cannot run until a default AP and AR format are set up in this maintenance program. When aging reports generate, the format defined in Company Configuration for each module is automatically the default. If necessary, on the report's Selection sheet, select an alternate format before you generate the report. These aging methods are used in the AR Aged Receivables and AP Aged Payables reports when viewing open invoices and credits for customers or suppliers. The di scounts or past due fees for the i tems display according to an aging method. You can define up to six columns (buckets) on an aging report. The first column alwa ys represents future invoices, and the second column represents current invoices; no days are associated with these columns. Each column after that includes the number of days defined on its heading; for example, Future, Current, 30, 60, 90, 120, and so on. Note When an aging report is run by due date, the Future column contains posted i nvoices that are not due as of the Aged As of Date selected on the report. When the report is run by invoice date, no entries display in the Future column unless an invoice is posted with a date that is the same as the Aged As of Date selected on the report. Menu Path


Financial Management > Accounts Payable > Setup > Aging Report Format

•

Financial Management > Accounts Receivable > Setup > Aging Report Formats

Pay Method Maintenance Use Pay Method Maintenance to define how you will pay various transactions. You can select specific payment methods as the default for bank accounts, customers, suppliers, and banks linked to a supplier or a customer. You can link each payment method to a specific electronic bank interface to receive payments against transactions using the internet. You can also set up payment methods for manual receipt of cash or checks. When you select an electronic bank interface for the payment method, the properties defined for the electronic interface display on the Property sheet. These values update each time you use the electronic bank interface. You can select payment methods on bank accounts and specify if they are for accounts receivable or accounts payable transactions. Each bank account can have multiple methods defined for each module but only one method per module can be set as the default payment method. A default payment method can always be overridden by selecting a different payment method for a group within AP Payment Entry or Cash Receipts Entry.

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17

Application Setup


The following are the key fields: Payment Method

This field specifies the name of the payment method. If you are creating a new payment method, enter the value you need in this field. To edit an existing payment method, either enter its name directly or click the Payment Method button to find and select it. Scope

This field specifies the source of payment method, select the accounts payable (AP) or accounts receivable (AR) option. Pay Method Type

This field defines the how the current method processes the payments. Select the option you need from the drop-down list. Available options for AR are: •

Electronic Interface

•

Generated Promissory Note

•

In Cash

•

Manual (the default option)

•

Received Payment Instrument (AR)

Menu Path


Financial Management > Accounts Payable > Setup > Payment Method

•

Financial Management > Accounts Receivable > Setup > Payment Method

•

Financial Management > Cash Management > Setup > Payment Method

•

Service Management > Expense Management > Setup > Payment Method

•

Service Management > Time Management > Setup > Payment Method

Workshop - Create a Payment Method In this workshop create a new payment method to use in Cash Receipts Entry when an invoice, deposit, or miscellaneous cash receipt is paid in cash (actual currency). Navigate to Pay Method Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Payment Method 1. Click New. 2. In the Payment Method field, enter XXX-Cash (where XXX are your initials). 3. In the Scope field, select AR. 4. In the Pay Method Type field, select In Cash. 5. Click Save and exit Pay Method Maintenance.

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Application Setup

Bank Account Maintenance Use Bank Account Maintenance to define bank accounts and select the GL controls that determine the accounts to which bank transactions post. Bank accounts record transactions, such as writing checks and submitting electronic payments. Note You must set up at least one bank account. If your company has more than one bank account, you can define multiple account records to aid in the bank reconciliation process. Important A user account must be set up as a Security Manager to maintain bank accounts. Users that are not security managers cannot maintain these accounts and are restricted from accessing the setup option.

Use the Payment Methods sheet to associate payment methods used for account deposits and withdrawals to your bank account. You can designate AR and AP payment methods for the account, including an electronic interface payment method used for Electronic Funds Transfer (EFT) processing. Menu Path


Financial Management > Accounts Payable > Setup > Bank Account

•

Financial Management > Accounts Receivable > Setup > Bank Account

•

Financial Management > Cash Management > Setup > Bank Account

•

Financial Management > Payroll > Setup > Bank Account

Bank Account Maintenance Sheets The following sheets are available in Bank Account Maintenance: Detail

Use the Detail sheet to enter bank account and routing information. Balance

Use the Balance sheet to view your bank account balance. This sheet is for review only, and populates based on the selected fiscal year. Note A bank account's balance is not affected when a check posts if the bank account has defined an AP Pending Cash Account or if the bank account itself is marked to keep an AP Reconciled Balance (check box is available on the Bank Account's Detail sheet). When an account is selected to keep a reconciled balance, the bank account record's Balance sheet only updates when and if the transaction clears in Bank Reconciliation. GL Control

Use the GL Control > Detail sheet to assign GL control types and codes to define the accounts and journal codes available to the program's processes. The controls determine the accounts and journal codes used to post the transactions. You can apply multiple controls to each record maintained in this program. If you use multiple controls, each control must be based on a different GL control type.

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19

Application Setup


Payment Methods

Use the Payment Methods > AP Payment Methods and the Payment Methods > AR Payment Methods sheets to define which payment methods are available for the current bank account in Accounts Payable and Accounts Receivable. You can select as many payment methods as necessary, but only one can be the default method. When you select a bank account on a record, the payment methods defined on this sheet display in the accompanying Payment Method field for the account.

Workshop - Add an AR Payment Method to a Bank In this workshop, add a new AR Payment Method to a bank account. Adding an AR payment method to the bank account allows the method to be selected on a Cash Receipts Entry group when the current bank account is used. Important Due to necessary database setup and specific data used to perform an update to an existing bank account, this workshop can only be performed by one person on a shared database.

Navigate to Bank Account Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Bank Account 1. In the Account field, enter 100 and press Tab. The Main Checking Account details display. 2. From the New menu, select New AR Payment Method. The Payment Methods > AR Payment Methods sheet displays. 3. In the Payment Method field, select XXX-Cash (where XXX are your initials). 4. Click Save. 5. Remain in Bank Account Maintenance.

Debit Notes Only Bank Account To create a cash receipt group that contains only debit notes, a particular bank account type is required. These accounts are called Debit Notes Only bank accounts and are created in Bank Account Maintenance. Epicor recommends you create a Debit Notes Only bank account to enhance your company's processing capabilities. This bank account type requires the Debit Notes Only check box be selected on its maintenance file to indicate its only purpose is to process debit notes. Cash receipt entry groups that post to this bank account must contain only debit notes.

Workshop - Create a Bank Account for Debit Notes Only In this workshop, set up a bank account for debit note processing. Navigate to Bank Account Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Bank Account 1. From the New menu, select New Bank Account. 2. In the Account field, enter XXXDN (where XXX are your initials).

This is a user-defined code that i dentifies the bank account record. It can be up to five alpha-numeric characters long.

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Application Setup

3. In the Description field, enter XXX Debit Notes Only (where XXX are your initials). 4. Select the Debit Notes Only check box.

Multiple fields disable when you select this check box. 5. In the Currency field, select United States Dollar. 6. From the New menu, select New GL Control. 7. In the Type field, search for and select Bank Account. 8. In the Control field, enter 100 and press Tab. 9. Click Save. 10. Exit Bank Account Maintenance.

Product Group Maintenance Use Product Group Maintenance to set up product groups, which classify the different part types you sell. These classifications are used for General Ledger (GL) and sales analysis purposes. You assign product groups to specific parts using the Group field in the Part Maintenance > Part > Detail sheet. Product group definition examples include: •

Customer ID (Edwards International)

•

Product Line (Televisions)

•

Product Type (Configured Parts)

•

A combination of each (Edwards International - Configured Parts)

Sales, Owner and Supply Site Field Relationships

The Sales Site field (located on the Detail sheet), and the Owner Site and Supply Site fields (located on the Site > Detail sheet) have important impacts on product group and order processing. These fields are as follows: For parts that are assigned to the product group for which you have assigned a sales site in the Sales Site field, when a sales order line is created (no matter what site into which you are currently logged), this sales site becomes the default "from" site for the order / line / release. If you do not designate a sales site for the product group, the order uses the site into which you are currently logged as the default "from" site. If you always want a group of part(s) (product group) to be sold from a specific site, you would use the Sales Site field to designate the sales site; otherwise you would leave it blank. Note The Sales Site field on the Product Group > Detail sheet is not directly related to the Owner Site or Supply Site fields on the Site > Detail sheet. However, if you do designate a Sales Site in the Detail sheet, you should designate that the Owner Site defined on the Site sheet be the same as the Sales Site designated on the Detail sheet. Product Group > Detail - Sales Site Field (Sold From / Distribute From Site)

For parts that are assigned to the product group for which you have assigned a sales site in the Sales Site field, when a sales order line is created (no matter what site into which you are currently logged), this sales site becomes the default "from" site for the order / line / release. If you do not designate a sales site for the product group, the order uses the site into which you are currently logged as the default "from" site. If you always want a group of part(s) (product group) to be sold from a specific site, you would use the Sales Site field to designate the sales site; otherwise you would leave it blank.

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Application Setup


Note The Sales Site field on the Product Group > Detail sheet is not directly related to the Owner Site or Supply Site fields on the Site > Detail sheet. However, if you do designate a Sales Site in the Detail sheet, you should designate that the Owner Site defined on the Site sheet be the same as the Sales Site designated on the Detail sheet. Product Group > Site Detail - Owner Site and Supply Site Fields

You can define multiple site relationships in Product Group Maintenance records The examples below better explain what happens when these site relationships are used in the Epicor application. Example You are selling from an Owner Site, which owns the demand and you want to obtain supply from this Supply Site, which fills the demand. You have three (supply) sites that feed nine branches that you sell from (owner): •

Branches (Owner) 1, 2 and 3 are supplied from Site A (Supply)

•

Branches (Owner) 4, 5 and 6 are supplied from Site B (Supply)

•

Branches (Owner) 7, 8 and 9 are supplied from Site A (Supply)

For this scenario, it results in nine entries in the Product Group > Site > Detail sheet, one for each site-to-branch relationship. Menu Path


Financial Management > Accounts Receivable > Setup > Product Group

•

Financial Management > Deferred Revenue Accounting > Setup > Product Group

•

Material Management > Inventory Management > Setup > Product Group

•

Production Management > Engineering > Setup > Product Group

•

Production Management > Job Management > Setup > Product Group

•

Production Management > Material Requirements Planning > Setup > Product Group

•

Sales Management > Configurator Management > Setup > Product Group

•

Sales Management > Order Management > Setup > Product Group

•

Service Management > Field Service > Setup > Product Group

For CRM users, the Main Menu appears as: •

Customer Relationship Management > Configurator Management > Setup > Product Group

•

Customer Relationship Management > Order Management > Setup > Product Group

Terms Maintenance Use Terms Maintenance to establish conditions that define how customers pay their invoices (for example, discounts, number of payments, and payment frequency). Terms define the due dates, payment frequency, applicable discounts, and number of payment installments. Each accounts receivable (AR) code defines a time period and a discount percentage period schedule. To begin setting up the selling terms, select one of the following term code types: •

Days

•

Day Of Month

•

End of X Month(s) On Y Day(s)

Determine whether the discount percentages for a term code calculate against partial or full payments.

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Application Setup

Each terms code can have either one discount period or multiple discount periods. Each discount period has a specific percentage which is valid for a specific period. Together, the discounts gradually reduce the percentages based on the passed period (months, days) within the overall terms period. Enter as many discount percentage periods as you need. Note that the discounts have the same types as the term codes: •

Days

•

Day Of Month

•

End of X Month(s) On Y Day(s)

You do not need to select the same type for a term code and a discount assigned to this term code. When a payment is received, the percentage active on the payment date is used to calculate the discount amount. AR terms display on sales orders and AR invoices. Select default payment terms for customers and on AR invoices. A terms record is required for each customer. When creating a customer record, a default terms record displays in the new record, but you can override this selection. Menu Path


Financial Management > Accounts Receivable > Setup > Terms

•

Sales Management > Demand Management > Setup > Terms

•

Sales Management > Order Management > Setup > Terms


Customer Relationship Management > Order Management > Setup > Terms

Workshop - Create a Terms Record for Multiple Payments Your company decides to lease an unoccupied portion of their site to another business. Create a terms record to establish a payment schedule for the new tenant. Navigate to Terms Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Terms 1. From the New menu, select New Terms ID. 2. In the Code field, enter XXX1 (where XXX are your initials). 3. In the Description field, enter XXX12 Month Payment Schedule (where XXX are your initials). 4. In the Number of Payments field, enter 12. 5. In the Terms Type field, select Day Of Month. 6. In the Due on Day field, enter 15. 7. In the Minimum Days field, enter 5. 8. Click Save and remain in Terms Maintenance.

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Application Setup


Workshop - Create a Term with Multiple Discounts A long-time customer of your company (Colorado Metals) has negotiated a 2% discount on each invoice if they pay within 15 days of the invoice date, and a 4% discount if they pay within 10 days of the invoice date. Create a customer terms record with multiple discounts and assign it to Colorado Metals' customer record.

Create a Terms ID 1. From the New menu, select New Terms ID. 2. In the Code field, enter XXX2 (where XXX are your initials). 3. In the Description field, enter XXX Multiple Discounts (where XXX are your initials). 4. In the Number of Payments field, accept the default value of 1. 5. In the Terms Type field, accept the default value of Days. 6. In the Number of Days field, enter 30. 7. In the Discount Type field, accept the default value of Days. 8. Click Save.

Add Discounts to the Terms ID 1. Navigate to the Discounts > Detail sheet. 2. From the New menu, select New Discount. 3. In the Number Of Days field, enter 15. 4. In the Discount Percent field, enter 2. 5. Click Save. 6. From the New menu, select New Discount. 7. In the Number Of Days field, enter 10. 8. In the Discount Percent field, enter 4. 9. Click Save and exit Terms Maintenance.

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Application Setup

Update a Customer Record Important Due to specific data used to update the customer record, this workshop can only be performed by one person at a time in a shared database.

Navigate to Customer Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Customer 1. In the Customer field, enter CODOMETAL and press Tab. 2. Navigate to the Billing > Detail sheet. 3. In the Terms field, select XXX Multiple Discounts (where XXX are you initials). 4. Click Save and exit Customer Maintenance.

Recurring Cycle Maintenance Use Recurring Cycle Maintenance to set up recurring cycles that define how recurring invoices will be generated and their billing cycles. You can create a recurring cycle and attach it to a recurring source invoice. A recurring source invoice is an invoice that is also used as a template from which recurring invoices will be generated. A cycle code is a collection of different settings that can be assigned to a recurring source invoice. The billing cycle of an invoice is defined within a specific cycle code and includes the frequency (how often) and duration (how long) the invoice will occur. You can perform the following tasks in Recurring Cycle Maintenance: •

Create a new recurring cycle

•

Modify a recurring cycle

•

Inactivate a recurring cycle

•

Delete a recurring cycle

Menu Path


Financial Management > Accounts Payable > Setup > Recurring Cycle

•

Financial Management > Accounts Receivable > Setup > Recurring Cycle

Workshop - Add a New Recurring Cycle In this workshop, create a recurring cycle. The recurring cycle will be used in a later workshop to define how recurring invoices will be generated and their billing cycle. Navigate to Recurring Cycle Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Recurring Cycle 1. From the File menu, select New. 2. Enter the following cycle parameters:

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Field

Value

Cycle Code

XXXMonthly (where XXX are your initials)

Description

XXXMonthly Recurrence (where XXX are your initials)

Module

AR

Interval

1

Modifier

Months

Billing Day

1

Duration

12

3. Click Save. Once you save a valid cycle code, it becomes available for selection on invoices. Note Once a recurring cycle code has been selected on a recurring source invoice, you will not be able to modify the settings on the Billing Cycle pane or delete the cycle.

4. Exit Recurring Cycle Maintenance.

Miscellaneous Charge Maintenance Use Miscellaneous Charge Maintenance to create miscellaneous charges. Once created, you can select these charges within other programs in the Epicor application. Miscellaneous charges are additional costs. For example, expedite fees and freight charges you can include on sales orders, quotes, and invoices. Once created, select the charges in the headers and detail lines of these records. Note These miscellaneous charges are not the same charges you set up in the Purchasing or Accounts Payable module. You pay purchasing miscellaneous charges to your suppliers, but your customers cover these miscellaneous charges.

When creating a miscellaneous charge: •

Select a charge frequency to set up miscellaneous charges to charge customers when appropriate.

•

Select the Sales Analysis check box to enable charges to be included in the Sales Analysis Report.

•

Select the Shipping Access check box to enable charges to be added to packing sli ps.

Menu Path


Financial Management > Accounts Receivable > Setup > Miscellaneous Charge

•

Sales Management > Order Management > Setup > Miscellaneous Charge

•

Service Management > Field Service > Setup > Miscellaneous Charge


26

Customer Relationship Management > Order Management > Setup > Miscellaneous Charge

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Workshop - Enter a Miscellaneous Charge An internal cost analysis of costs finds that the cost of pallets increased substantially over the last few months. A decision is made to initially charge customers for pallets when a product is shipped, and to refund the amount when the customer returns them.

Add a Miscellaneous Charge Code Navigate to Miscellaneous Charge Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Miscellaneous Charge 1. From the New menu, select New Charge. 2. In the Code field, enter XXX (where XXX are your initials). 3. In the Description field, enter XXX Refundable Pallet Charge (where XXX are your initials). 4. In the Amount field, enter 10.00. 5. Select the Shipping Access check box. 6. In the Frequency field, select Every. 7. Click Save.

Attach a GL Control to the Charge 1. From the New menu, select New GL Control. The GL Control > Detail sheet displays. 2. In the Type field, search for and select Misc Charge(Sales). 3. In the Control field, search for and select PALL. 4. Click Save. 5. Exit Miscellaneous Charge Maintenance.

Tax Setup This section of the course reviews the following five tax maintenance programs: •

Tax Type Maintenance

•

Tax Liability Maintenance

•

Product Tax Category Maintenance

•

Tax Jurisdiction Maintenance

•

Tax Authority Maintenance

Tax information is government mandated and someone who is familiar with the taxation guidelines for your company should enter this information into the Epicor appli cation.

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Tax Allocation In the Epicor application, three of the five tax maintenance programs work together to properly allocate tax and tax rates to invoices. The image below displays the relationship between customers, tax liabilities, tax types, tax rates, tax categories, products/charges, and invoices. The same relationship also holds true for supplier i nvoices (substitute supplier for customer and delete Finance/Late Charge).

Important Tax categories are not tied to tax liabilities. If a customer is not assigned a tax liability, taxes are not added to the invoice. Although a tax category might display on the invoice line(s), taxes are not charged because a tax liability is not assigned to the customer.

Tax liabilities and tax categories can be manually added to invoice lines at the time of invoice entry. Example

The following outlines records set up i n several maintenance programs and how they work together to charge tax to a customer invoice. Product Tax Category •

28

Tax category, Services is set up in the application without links to specific tax types or effective rates.

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Tax Type Maintenance •

Tax type, City Tax is set up with two effective rates: City Tax Rate (2%, document level, default) and Alternate City Tax Rate (1%, line level). Tax category, Services is exempt from City Tax.

•

Tax type, MN State Tax is set up with two effective rates: MN Tax Rate (6.5%, line level, default) and Alternate MN Tax Rate (3%, line level).

Product Tax Category Maintenance •

Tax category, Products is linked to both City Tax and MN State Tax; however, the category is setup to use the Alternate rate code for each of these tax types.

Tax Liability Maintenance •

Tax liability, Minnesota - Hennepin County is linked to two tax types: City Tax and MN State Tax.

Customer Maintenance •

Tax liability, Minnesota - Hennepin County is selected on Ace Molding Company's customer record.

Product Group Maintenance •

Tax category, Services is selected on the Services product group record.

Part Maintenance •

Tax category, Products is selected on the Product P1 (00P1) part record.

•

Product group, Services is selected on the Service S1 (0S1) part record.

In the above example, Ace Molding Company (ACEMOLD) is taxed as follows: •

When ACEMOLD is invoiced for Product P1, they are charged 1% City Tax and 3% MN State Tax.

•

When ACEMOLD is invoiced for Service S1, they are exempt from City Tax and are charged 6.5% MN State Tax.

•

When ACEMOLD is invoiced for a part/service/charge that is not tied to either the Products or Services tax category (or to a product group that is tied to either of those tax categories), they are charged 2% City Tax and 6.5% MN State Tax.

Tax Type Maintenance Use Tax Type Maintenance to specify different tax types and tax rate codes your company needs to support sales and purchase processes. Each tax type is set up with different attributes such as a calculation algorithm, collection method, time of recognition, tax rates, and other accounting information. The tax type can have multiple rates but one is the default rate. This rate is used unless a different rate is specified elsewhere. Specific products can be exempt from certain tax types. Use product tax categories to divide taxes into groups that apply to different products. On the Rates > Exempt sheet in this program, select which categories should not have the current tax calculated against their orders. Tax types are assigned to individual tax liabilities. Tax liabilities define geographic areas, and each tax code selected identifies individual taxes collected within that area. Each customer record can have a tax liability assigned, which defines the taxes calculated against the orders and invoices for that customer. Tax Connect

Use Tax Type Maintenance to assign specific GL Controls to the tax type records that are automatically created by Tax Connect when tax calculations for transactions occur. When you use Tax Connect, it automatically creates the necessary tax type records needed to complete tax calculations for your transactions. You can change GL controls that were defaulted from Company Maintenance, but tax types do not need to be manually created. Epicor ERP | 10.0.700.2

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Tip Tax Connect-created tax types display a checkmark in the Tax Connect Calculation check box. The first few characters of their Tax IDs are defaulted in from the Tax ID Prefix field located on the Modules > Finance > Tax Interface sheet of Company Maintenance for the applicable Epicor company when tax types are automatically created. This helps to differentiate them from tax types you may have manually created using the internal Epicor tax engine in the past for the purpose of calculating sales taxes, before purchasing and implementing the Tax Connect module. Menu Path


Financial Management > Accounts Payable > Setup > Tax Type

•

Financial Management > Accounts Receivable > Setup > Tax Type

•

Material Management > Purchase Management > Setup > Tax Type

•

Sales Management > Order Management > Setup > Tax Type


Customer Relationship Management > Order Management > Setup > Tax Type

Workshop - Enter a Tax Type In this workshop, enter a sales tax record. In addition, specify a tax category that is exempt from the tax type you create. Navigate to Tax Type Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Tax Type 1. From the New menu, select New Tax Type Code. 2. In the Tax ID field, XXX-SALE (where XXX are your initials). 3. In the Description field, enter XXX Sales Tax (where XXX are your initials). 4. Select the Manual Tax Calculation check box. Selecting this check box enables you to manually add this tax type to an invoice. 5. Click Save. 6. From the New menu, select New Rate.

The Rates > Detail sheet displays. 7. In the Rate Code field, enter MainRate. 8. In the Description field, enter Main Rate Code. 9. Select the Default Rate check box. 10. Click Save. 11. From the New menu, select New Effective Rate.

The Rates > Effective Rate > Detail sheet displays. 12. In the Effective From field, verify today's date displays.

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13. In the Rate Type field, verify Percentage displays. 14. In the Percentage field, enter 6.5. 15. In the Currency field, verify United States Dollar displays. 16. Select the Line Level radio button. 17. Click Save. 18. From the New menu, select New GL Control.

The Rates > GL Control > Detail sheet displays. 19. In the Type field, search for and select Tax. 20. In the Control field, search for and select LocalSal0002. 21. Click Save.

Add an Exempt Category 1. From the New menu, select New Exempt Category. The Rates > Exempt sheet displays. 2. In the Category ID field, select Services. This indicates that a part, product group, miscellaneous charge, late charge, or invoice linked to the Services tax category is exempt from this tax type. 3. Click Save and exit Tax Type Maintenance.

Tax Liability Maintenance Use Tax Liability Maintenance to enter tax liability records. A tax liability represents taxes a company handles when they trade with customers and suppliers. This can be taxes liable due to both your company's tax status or the tax status of the customer or supplier. The Epicor ERP application allows you to assign a list of tax types to each tax liabili ty code. A tax type can contain rules that control which level to calculate the tax (line or total) and can apply exemptions available for the tax. Define what location controls the liability. Use Customer Maintenance or Supplier Maintenance to attach a default tax liability code to the customer or supplier bill to and ship to addresses. The tax liability and the product tax category (which represents what has been sold or purchased) combination determines the final taxes and rates for the transaction. Note Tax liability is optional in the Epicor ERP application. If used, records in Customer Maintenance can be associated with the appropriate tax region. Tax Connect

For those who have purchased Epicor Tax Connect Use Tax (UT), use Tax liability Maintenance to create Use Tax calculation-capable Tax Liability codes for assignment to your suppliers to automatically enable Use Tax calculations for AP invoices. Epicor Tax Connect UT allows self-assessed consumer use taxes to be calculated for AP invoices. Tax Liability codes are optional for Epicor Tax Connect Sales Tax (ST) , which calculates sales taxes for your customers' sales orders and for their AR invoices and credit memos.

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Note Although Tax Liability codes are not needed for Epicor Tax Connect ST to calculate sales taxes for customer transactions, they can be used to prevent non-US and non-Canadian transactions from being communicated to AvaTax®, such as for international transactions for which taxes should not be calculated and which do not need to be included on sales tax returns. Menu Path


Financial Management > Accounts Payable > Setup > Tax Liabili ty

•

Financial Management > Accounts Receivable > Setup > Tax Liabili ty

•

Material Management > Purchase Management > Setup > Tax Liability

•

Sales Management > Order Management > Setup > Tax Liability


Customer Relationship Management > Order Management > Setup > Tax Liability

Workshop - Configure a Tax Liability In this workshop, configure a tax liabili ty record for the tax type you created in the previous workshop. Later in the course, assign that liability to a Customer record. Navigate to Tax Liability Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Tax Liability 1. From the New menu, select New Liability. 2. In the Tax Liability field, enter XXX (where XXX are your initials). 3. In the Description field, enter XXX Region (where XXX are your initials). 4. Select or verify the following check boxes are selected: Field

Data

Use in AP

Select

Use in AR

Select

5. Click Save. 6. From the New menu, select New Tax Type.

The Taxes > Detail sheet displays. 7. In the Tax Type field, select XXX Sales Tax (where XXX are your initials). 8. Click Save and exit Tax Liability Maintenance.

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Product Tax Category Maintenance Use Product Tax Category Maintenance to classify different products and services based on taxes. In case a group of products uses a specific rate (not the default rate selected for the tax type), this rate can be assigned to the product tax category. Note If a Product Tax Category is defined as the default, then tax calculations performed on invoice lines without a Product Category will use the default category to identify the relevant taxes and rates. Tax Connect

Use Product Tax Category Maintenance to create tax categories (equivalen t to AvaTax's® Tax Codes) for assignment to parts and charges, as needed, to cause the desired tax outcomes to occur. Note If a Product Tax Category is defined as the default by selecting the Default check box on the Detail sheet of Product Tax Category Maintenance, Epicor uses it in preference to the Default Tax Category assigned to the Epicor Company for transaction lines, which referen ce parts that do not have a Tax Category defined on Part Maintenance. An exception is sales order lines for parts which have a Product Group specified in Part Maintenance; if the part does not have a Tax Category defined but it's Product Group does, Epicor uses the Product Group's Tax Category in preference to others. This exception does not apply to miscellaneous AR invoices and credit memos which are not created from sales order shipments. Menu Path


Financial Management > Accounts Payable > Setup > Tax Product Category

•

Financial Management > Accounts Receivable > Setup > Tax Product Category

•

Material Management > Purchase Management > Setup > Product Tax Category

•

Sales Management > Order Management > Setup > Product Tax Category


Customer Relationship Management > Order Management > Setup > Product Tax Category

Workshop - Enter a Tax Category Enter a tax category and specify the tax types and rates associated with that category. After you complete this workshop you can optionally attach this tax category to a part, product group, or miscellaneous charge/credit record. Navigate to Product Tax Category Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Tax Product Category 1. From the New menu, select New Tax Category. 2. In the Category field, enter XXX (where XXX are your initials). 3. In the Description field, enter XXX Tax Cat (where XXX are your initials). 4. Click Save. 5. From the New menu, select New Tax Rate. 6. In the Tax Type field, select MN State Sales.

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7. In the Rate Code field, select Alternate MN Tax Rate. Note the two rates available for selection. Selecting this rate code indicates when this tax category is selected on a part, product group, or charge, that record will be taxed using this rate i nstead of the default rate for the selected tax type. 8. Click Save. 9. Exit Product Tax Category Maintenance.

Tax Jurisdiction Maintenance Use Tax Jurisdiction Maintenance to enter special tax codes that define jurisdictions (authorities) in which you report taxes. Tax jurisdictions are the governance or authority that grants the power to tax a particular tax type. Associate each jurisdiction you define with at l east one tax type in Tax Type Maintenance. Tax jurisdictions examples include: •

Counties

•

Districts

•

Cities

Menu Path


Financial Management > Accounts Payable > Setup > Tax Jurisdiction

•

Financial Management > Accounts Receivable > Setup > Tax Jurisdiction

•

Material Management > Purchase Management > Setup > Tax Jurisdiction

•

Sales Management > Order Management > Setup > Tax Jurisdiction


Customer Relationship Management > Order Management > Setup > Tax Jurisdiction

Tax Authority Maintenance Use Tax Authority Maintenance to add, edit, and delete the codes that define taxes for external companies. This program is available if your company links to an external financial system. Tax Authority Maintenance is a component of the taxation matrix within the Epicor application. Use Tax Authority Maintenance to organize data during accounts receivable (AR) invoice entry for tax reporting purposes. Use Customer Maintenance or Supplier Maintenance to assign tax authority codes to a customer or supplier record. Note Some countries require additional separation for tax reporting within areas of their country. This is based on a table of tax authorities. This field is then compared against customer, ship to, and supplier records for transfer to external tax packages. Tip Use tax authority codes only when financial integration with other applications is necessary.

Tax authorities are optional within the Epicor ERP appl ication. If used, records in Customer Maintenance can be associated with the appropriate tax authority.

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Menu Path


Financial Management > Accounts Payable > Setup > Tax Authority

•

Financial Management > Accounts Receivable > Setup > Tax Authority

•

Material Management > Purchase Management > Setup > Tax Authority

•

Sales Management > Order Management > Setup > Tax Authority


Customer Relationship Management > Order Management > Setup > Tax Authority

Customer Maintenance Customers are businesses to whom you sell products and services. Use Customer Maintenance to enter customer records. Use customer records to create quotes, sales orders, and accounts receivable (AR) invoices. Customer records are also used during the Customer Relationship Management (CRM) process. Six important sheets in Customer Maintenance include: •

Customer > Detail

•

Billing

•

Contacts > Detail

•

Ship To > Detail

•

Tax Exemptions > Detail

•

Banks > Detail

Other sheets include Attributes, Manifest Info, and Documents. If you want to learn more about these topics, refer to the Application Help.

Detail Sheet Use the Customer > Detail sheet to enter the primary information about the customer. For example, you create the customer identifier on this sheet, as well as enter the customer's main address. There are also other options you can define here such as the customer's language and primary salesperson. The following information discusses significant fields and options of note when working on the Customer > Detail sheet and why they are important. Important Fields and Options Type

This denotes the type of account for this customer record: •

A new customer record has a default type of Prospect if the Customer Relationship Management (CRM) module is not enabled.

•

When a sales order is created for the new customer, the type automatically updates to Customer.

•

If the CRM module is installed, the default type for a new customer is Suspect. If a customer record displays as a suspect, it indicates that the record is for a potential customer that has not yet been contacted by your sales team.

Territory

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A territory is the sales area where the customer is located. In addition, this field indicates which salesperson is responsible for transactions with this customer. If the CRM module is installed, this is a mandatory field. •

Click the Get Territory button to automatically assign a territory to this customer. The program locates the territory that contains this customer ’s address.

•

To manually select the territory, select the Territory Locked check box. The Territory field activates; select a new territory from this list.

If the CRM module is not installed, this field is not mandatory, and the Get Territory button, as well as the Territory Locked check box, are both unavailable. For reference, a territory can be selected manually. Valid Payer, Valid Sold To, and Valid Ship To •

Select the Valid Payer check box to indicate that this customer is a valid payer who is authorized to remit cash receipts in AR. Cash receipts can be entered for this customer only if this check box i s selected.

•

Select the Valid Sold To check box to indicate that this customer account is authorized for entry as a sold to customer in AR Invoice Entry and Order Entry. AR i nvoices and orders can be entered for this customer only if this check box is selected.

•

Select the Valid Ship To check box to indicate that this customer account is authorized for entry as a ship to customer in Order Entry. This customer account can be entered or selected as a ship to customer in Order Entry only if this check box is selected.

By default, the Valid Payer, Valid Sold To, and Valid Ship To check boxes are selected for new customer records. Clear the appropriate check boxes as needed when you add new customers. Allow One Time Ship To

Select the Allow One Time Ship To check box to specify that alternate one-time ship to addresses can be entered for this customer account on sales orders, service contracts, service calls, AR invoices, and at the time of shipment. Example If this customer account is designated as the sold to customer on an order, select this check box to allow the data entry person to enter one time ship to information. This is useful when you wish to ship a sold item on a one-time basis to an alternate address to which you usually do not ship. Allow Ship To Third Party

Select the Allow Ship To Third Party check box to specify if alternate third party ship to addresses can be entered or selected when this customer number is entered as the sold to customer for certain transactions (sales orders, service contracts, service calls, AR invoices, and at the time of shipment) in the Epicor application. Example If this customer account is designated as the sold to customer on an order, you can also select a third party as the bill to customer for the same order. Select this check box to al low the data entry person to (optionally) enter ship to address information for the designated third party on the order. This is useful when you wish to ship a sold item on a one-time basis to an alternate address to which you usually do not ship for this third party. Statements

Select this check box to indicate that Customer Statements should be generated for this customer. Only customers that have this option selected display in the AR module's Customer Statements Report . You can always print customer statements for specific date ranges. If an activity occurs during a statement period, a statement prints, even if the net activity results in a zero balance.

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Billing Sheets Use the Billing sheets to enter and edit billing information about the current customer. Detail Sheet

Use the Billing > Detail sheet to enter billing information for the selected customer. This sheet allows you to define the selected customer's AR account, currency, tax option s, billing terms, shipping terms, payment method s, and other default transaction information. These default settings are used on sales orders and AR invoices unless otherwise specified. Bill To Sheet

Use the Billing > Bill To sheet to enter a bill to address for this customer. Either the main customer address can be used or a different billing address can be entered. If the bill to address is in another country or requires a new address format, use the Billing > Address Format sheet found next to the Billing > Bill To sheet to modify the format. National Account Sheet

Use the Billing > National Account sheet to override the company's Payer Bill To Relationship Class for this customer. You can also view national accounts of which this customer is a member. Price Lists Sheet

Your company has the option to set up price lists to reflect seasonal price changes or special price breaks you give to specific customers or ship to locations. Once these lists are created, use the Billing > Price Lists sheet to rank the priority of these lists for the current customer or current ship to location. When you create an order, use the price l ists assigned to this customer or ship to location to calculate the total price of the sales order. Credit Detail Sheet

Use the Billing > Credit > Credit Detail sheet to enter and update the current customer's credit information. Use this sheet to define credit limits for the current customer. You can also define other credit options. Important Before you can edit customer credit information, you must have security rights to access this sheet. These rights are defined on your user record. For more information, refer to the User Account Maintenance topic in the Application Help.

You also use this sheet to place the customer on or off Credit Hold. If a customer is on credit hold, warning messages display when you attempt to create a new packing sli p or sales order for this customer. Depending upon how you set up your Order module configuration, these messages may either warn you about the credit problem, or completely prevent you from creating a new quote, order, or invoi ce. Note The Epicor application places customers on hold when they exceed their credit limit during AR invoice posting and sales order entry. Additionally, if you enter or update a credit limit for a customer that already exceeds your new limit, that customer is also automatically placed on credit hold.

On this sheet you can also define whether you wish to receive non-traditional payment information (Payment Instruments) such as post dated checks and bank drafts, and use it in calculating a customer's global credit limit. The Billing > Credit > National Account Credit sheet allows you to check credit for customers in national account relationships.

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Billing > Alternates > Detail

Each customer record has at least one bil l to address which can be the main customer address or a different one as mentioned above. There are times when the bill-to address is not a different billing address but an entirely different customer or entity than the customer ordering and receiving the goods. Only valid customers created in Customer Maintenance can be defined as Alternate Bill To customers. Select the Allow As Alternate Bill To option on the Billing > Detail sheet if this customer can be selected as an Alternate Bill To. Credit checking for a sales order is based on the bill-to customer. Example Addison orders goods from your company. This customer is on credit hold, but his Alternate Bill To customer (Dalton) has not exceeded its credit limit. Because Dalton is the paying customer, and is in good credit standing, Addison's order is not placed on credit hold. Billing > GL Controls > Detail

If a customer wants to post its records to an alternate AR account, create a specific general ledger (GL) control code for the AR Account control type within the GL module, and add it to the customer's record on the Billing > GL Controls > Detail sheet.

Tax Exemptions Sheet Use the Tax Exemptions > Detail sheet to define customer specific exemptions. When multiple exemptions are specified for a document or line, the Epicor application uses the highest exemption. If more than one is considered to be highest, the Epicor application uses exemptions in the following order: 1.

Customer

2.

Product

3.

Tax Liability

4.

Tax Type

5.

Tax Exempt Code (the existing code set manually on the Billing > Detail sheet)

Banks Sheet Use the Banks > Detail sheet to enter banking information for customers who want to make Electronic Funds Transfer (EFT) payments to your company. The Bank sheet also holds information that pertains to the contract the customer signed, which allows your company to withdraw money from the customer's account and specifies for how long the contract is valid. EFT payments are possible via an electronic interface between your company and the customer's bank. This interface is defined in Electronic Interface Maintenance. In order for an EFT to take place, define an electronic payment method with a valid output file i n Payment Method Maintenance and (optionally) link it to the customer's Billing > Detail sheet.

Workshop - Enter a Customer Record Your company's Sales department was successful in attracting the business of an important customer they were pursuing. Business procedures require that the Accounts Receivable department is responsible for initially creating

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a customer record once its credit application is approved. Additional information is later added by the Sales department.

Enter Customer Details Navigate to Customer Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Customer 1. From the New menu, select New Customer. 2. In the Customer field, enter XXX (where XXX are your initials). 3. In the Name field, enter XXX, Inc. (where XXX are your initials). 4. In the Type field, select Customer. 5. In the available Address fields, enter an address for your new customer in the state of MA (Massachusetts). 6. Because the Customer Relationship Management (CRM) module is installed, click the Get Territory button to enter territory information for the customer. When the CRM module is not licensed, adding a territory to a customer record is optional.

In this workshop, because the customer is located in the state of Massachusetts (a previously entered territory), United States - New England populates the Territory field. This is because the United States New England sales territory was previously defined in Sales Territory Maintenance with the state of MA as one of its boundaries. 7. Click Save.

Update Customer Terms and Tax Liability 1. Navigate to the Billing > Detail sheet. 2. In the Terms field, select XXX12 Month Payment Schedule (where XXX are your initials). 3. Click the Tax Liability button and search for and select XXX Region (where XXX are your initials). 4. Click Save.

Enter Bill To Information Use the Billing > Bill To sheet to enter a bill to address for this customer. The Accounts Payable department for the aerospace company is located at a different address than their sold to address. 1. Navigate to the Billing > Bill To sheet. 2. Click Copy Customer Address to copy the customer's address from the Customer > Detail sheet. 3. Modify the bill to name and address as follows: Field

Data

Name

XXX Aerospace Accounts Payable (where XXX are your initials).

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Field

Data

Address

1525 Aerospace Way

Address

Building 1525-B

City

Kirkland

State

WA

Zip

98033

Country

USA

4. Click Save.

Enter Credit Detail Use the Billing > Credit > Credit Detail sheet to enter and update credit i nformation (such as defining credit limits) for the current customer. You can also define other credit options such as whether you receive non-traditional payment instruments from them. The accompanying Billing > Credit > National Account Credit sheet allows you to check credit for customers in national account relationships. 1. Navigate to the Billing > Credit > Credit Detail sheet. 2. In the Credit Limit field, enter 5,000,000. 3. Clear the Credit Hold check box to release your customer from credit hold. The Epicor application initially selects this check box; it should usually be manual ly cleared for a new customer. 4. Click Save.

Enter Ship To Information 1. Navigate to the Ship To > Detail sheet. 2. From the New menu, select New Ship To. 3. In the Ship To ID field, enter MAIN. 4. Select the Primary Ship To check box. 5. In the Ship Via field, select UPS Ground. 6. In the available Address fields, enter a ship to address for your customer in the state of KS (Kansas). This can be, but does not have to be, the same as the Customer Bill To address. 7. Click the Get Territory button.

Because the customer's ship to address is in the state of Kansas, a previou sly entered territory, United States - Mid West populates the Territory field. This is because the United States - Mid West sales territory was previously defined in Sales Territory Maintenance with the state of KS as one of its boundaries. 8. Click Save.

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Enter Contact Information 1. Navigate to the Contacts > Detail sheet. 2. From the New menu, select New Contact. 3. In the Name field, enter a friend's full name. 4. Select the Billing check box to mark your new contact as the primary billing contact. 5. Click Save. 6. Remain in Customer Maintenance for the next workshop.

Workshop - Review and Modify a Customer Record In this workshop, review and modify a customer record in regard to the payment instruments functionality. 1. Navigate to the Customer > Detail sheet. 2. In the Customer field, search for and select VICTIMBER. 3. Navigate to the Banks > Detail sheet and verify the following information display: Field

Data

Bank

BOC

Bank Name

Bank of Canada

Bank Account

1234567 89

Payment Method

Check

Name

Victoria Timber Products

Address

2005 Sooke Rd

City

Victoria

State/Prov

BC

Postal Code

V9B 5Y2

Country

Canada

Primary Bank

Selected

4. Navigate to the Billing > Credit > Credit Detail sheet. 5. In the Customer Credit pane, select the Include Payment Inst check box.

This check box indicates that the customer wishes to receive non-traditional payment information (Payment Instruments) such as post dated checks and bank drafts, and that these payment instruments are included in the customers credit limit. Important A Payment Instrument license is required in order for the Include Payment Inst check box to be selected. This check box is greyed out if you do not have a Payment Instrument license.

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6. Click Save and exit Customer Maintenance.

Contact Tracker The Contact Tracker is a display-only version of consolidated contact-related programs such as, Customer Maintenance, Sales Order Entry, Quote Entry, and more. This tracker is useful for reviewing activity for a particular contact, throughout the Epicor application. For example, if a contact named John Smith exists in the application, his name can be entered at this point. The customer he is affiliated with can be reviewed, along with e-mail information, quotes, orders, jobs, or other records that bear his name. Menu Path


Executive Analysis > Trackers > Contact Tracker

•

Financial Management > Accounts Receivable > General Operations > Contact Tracker

•

Sales Management > Customer Relationship Management > General Operations > Contact Tracker

•

Sales Management > Order Management > General Operations > Contact Tracker

•

Sales Management > Quote Management > General Operations > Contact Tracker


Customer Relationship Management > Sales and Marketing Management > General Operations > Contact Tracker

•

Customer Relationship Management > Order Management > General Operations > Contact Tracker

•

Customer Relationship Management > Quote Management > General Operations > Contact Tracker

Electronic Interface Maintenance Use Electronic Interface Maintenance to create interfaces that electronic funds transfers (EFT) and reports use. Although this maintenance program is in the Accounts Payable (AP) module, it is equally important to Accounts Receivable (AR). EFTs and electronic reports typically require the use of bank-specific or locale-specific formats in files used to transfer data. To define requisite formats, use this program to: •

Select the .p (Progress) program, a plug-in which sets up the interface within the Epicor application.

•

Set the properties the format requires.

The Epicor application includes an EFT interface and several interfaces used in reporting. These interfaces are defined as system interfaces and cannot be modified. Electronic interface definition allows their selection as: •

A payment method in Payment Method Maintenance . You can associate the interface with a customer with which the company has a direct-debit agreement.

•

An interface used to generate reports. You can use interfaces defined in this program to export reports electronically.

Menu Path


42

Financial Management > Accounts Payable > Setup > Electronic Interface

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•

Application Setup

Financial Management > Accounts Receivable > Setup > Electronic Interface

National Accounts National accounts define customer interdependencies that affect credit sharing, payer bill-to relationships, and reporting. National accounts serve the following functions: •

Credit sharing - National account customers can share credit. In credit-sharing, a child customer can access its own credit, the credit of its parent, and the credit available in one or more credit pools associated with its national account. Implementation of this functionality requires the definition of a tiered relationship class used by the company for credit sharing. Customers that belong to national accounts based on the class can share credit.

•

Payer Bill-To Relationships - National accounts can establish payer bi ll-to relationships in which a payer customer pays for a bill-to customer that receives invoices. Implementation of this functionality requires definition of a non-tiered relationship class the company uses for payer bill-to relationships. Customers that belong to national accounts based on the class can receive and pay invoices based on the relationship.

•

Reporting - National accounts can define reporting relationships based on markets or other criteria. National accounts can be used to sort entries on aged receivable reports and sales analysis reports. Implementation of this functionality requires definition of a tiered relationship class the company uses for reporting. Customer information for each child displays within i ts parent throughout the account levels.

Use the following programs to implement national accounts: •

Use Relationship Class Maintenance to create the relationship classes used to define national accounts. You must define separate classes for credit sharing, reporting, and payer bill-to relationships to fully implement national account functionality.

•

Use Company Configuration to implement national account functionality and set the relationship classes used to define accounts. The National Accounts sheet specifies the classes used to define credit sharing, reporting, and payer bill-to accounts. You can implement one, two or three functions.

•

Use National Account Relationship Maintenance to define customers involved in a national account relationship and the credit pools available to the account's customers.

•

Use Customer Maintenance to define a customer as a valid payer bill-to and to enter customer-specific settings that affect credit sharing and payer bill-to relationships. Settings on a customer record's National Account sheet allow child customers to pay their parent's invoices as well as invoices for customers in a payer bill-to account. The National Account Credit sheet defines settings for a customer in a credit-sharing accoun t. Settings determine the credit types the customer uses and the order in which they are used.

National Account Relationship Maintenance Use National Account Relationship Maintenance to define customers involved in a national account relationship. The class associated with the account determines the underlying relationship structure and whether it applies to credit-sharing, reporting, or payer bill-to relationships. For credit-sharing accounts, you can define credit pools available to an account's customers. National accounts defined in this program serve the following functions: •

Credit sharing - In credit-sharing, a child customer can access its own credit, the credit of its parent, and the credit available in one or more credit pools associated with the national account. Selection of a tiered relationship class for company credit checking determines the class used to define credit-sharing accounts; customers that belong to national accounts based on the class can share credit.

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Application Setup


•

Reporting - National accounts can be used to sort entries on aged receivables and sales analysis reports. Selection of a relationship class for company reporting determines the class used to define reporting-type accounts; you can select an account based on the class to sort report entries by the customer account hi erarchy.

•

Payer Bill-To Relationships - National accounts can establish payer bi ll-to relationships in which a payer pays for a bill-to customer that receives invoices. Selection of a non-tiered relationship class for company payer bill-to relationships determines the class used to define these accounts. Example A large corporation has a number of subsidiaries (two of which are distribution companies). They want to share a percentage of their credit with the two distribution subsidiaries. You can set up a national account relationship which includes these three customers. You can define relationship specifications to allow credit sharing between the larger corporation and its two subsidiaries.

Menu Path


Financial Management > Accounts Receivable > Setup > National Account Relationship

Workshop - Update a National Account Relationship Record In this workshop, review the national account relationship between parent, Buckstar Coffee Company, and its two children. After reviewing, add a new child store to the existing relationship and credit pool and review its national account credit in Customer Maintenance. Important Due to necessary database setup and specific data used to perform an update to a National Account Relationship, this workshop can only be performed by one person on a shared database. If you are unable to complete this workshop, this does prohibit you from completing Workshop - Manage Customer Records.

Review a National Account Relationship Navigate to National Account Relationship Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > National Account Relationship 1. In the Relationship Class field, enter MULTI. 2. In the Customer field, enter BUCKS and press Tab. 3. Navigate to the Credit Pool > Pool Detail sheet and review the credit pool and customer details.

Add a Child Customer 1. Navigate to the Detail sheet. 2. In the Child Customer field, enter BUCK675 and press Tab. 3. Click Add Child.

Buckstar Store 675 is now part of the current relationship.

Share a Credit Pool with a Child 1. Navigate to the Credit Pool > Pool Detail sheet.

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Application Setup

2. From the New menu, select New Customer Shared the Pool. 3. In the available Cust. ID field, enter BUCK675 and press Tab. 4. In the available Max Percent field, enter 20.00. 5. Click Save. 6. Exit National Account Relationship Maintenance.

Update a Child Customer's Credit Navigate to Customer Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Customer 1. In the Customer field, enter BUCK675 and press Tab. 2. Navigate to the Billing > Credit > National Account Credit sheet.

Note the line in the Credit Pool pane. This line of data shows that customer BUCK675 has $200,000.00 of credit available (20% of parent customer, Buckstar's $1,000,000 in credit). This was set up in the previous workshop task in National Account Relationship Maintenance. 3. In the National Accounts pane, select the Use Parent's Credit check box. 4. In the Max Percentage to Use field, enter 20.00. 5. Select the Share Credit check box. 6. In the Percentage Shared field, enter 50.00.

This allows other children in the national account relationship to use 50% of this customer's credit. 7. In the Credit Preferences pane's Selected Preferences column, select Credit Pool and click the up arrow to move this preference up one level.

This action prioritizes this customer's credit options. 8. Click Save and exit Customer Maintenance.

Finance/Late Charge Maintenance Use Finance/Late Charge Maintenance to define the conditions used to calculate charges and interest on overdue invoices. Some conditions include the tax category, charge rates, terms, limits, and which invoices to include. Once you create a finance charge, it can be assigned to a customer record in Customer Maintenance. The assigned code is then used by the finance/late charge generation process to automatically create a corresponding finance charge invoice(s). Per the agreement made when the finance charge was assigned to the customer record, charges are applied to their overdue invoices and late payments. The finance/late charge generation process should run periodically from Process Finance/Late Charges. As a result, an accounts receivable (AR) invoice entry group made up of finance charge invoices is created within AR Invoice Entry. If necessary, invoices can be edited, added, or deleted from the invoice group before it posts.

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Application Setup


Menu Path


Financial Management > Accounts Receivable > Setup > Finance/Late Charge

Workshop - Create and Assign a Finance Charge A customer has proven in recent months to have a history of late payments. Your company decides to charge this customer a late fee on invoices over 15 days late. In this workshop, develop a finance/late charge and assign it to the customer.

Create a Finance Charge Code Navigate to Finance/Late Charge Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Finance/Late Charge 1. From the New menu, select New Finance/Late Charge. 2. In the Charge ID field, enter XXXLate (where XXX are your initials). 3. In the Description field, type XXX Poor Payment History (where XXX are your initials). 4. In the Invoice Line Description field, enter XXX Finance/Late Charge (where XXX are your initials). 5. In the Payment Process Days field, enter 3.

This number indicates the grace period before finance charges are incurred. 6. In the Terms field, select Net 30. 7. Select the Open Invoices check box. 8. In the Minimum Charge Amount field, enter 8.50.

Adding an $8.50 minimum charge amount alerts the application to automatically charge $8.50, even if the charge rate indicates a lower fee. 9. In the Per Invoice field, enter 25.00.

This indicates that invoices under $25.00 should not be charged a finance charge despite its overdue status. 10. Click Save.

Enter a Finance Charge Rate 1. Navigate to the Rates > Detail sheet. 2. From the New menu, select New Charge Rate. 3. In the Finance Charge Percent field, enter 5.00. 4. Click Save.

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Application Setup

Assign a GL Control Code 1. Navigate to the Charge > GL Control > Detail sheet. 2. From the New menu, select New GL Control. 3. In the Type field, search for and select Finance Charge. 4. In the Control field, search for and select FINCHG. 5. Click Save. 6. Exit Finance/Late Charge Maintenance.

Add the Finance Charge Code to a Customer Record Navigate to Customer Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Customer 1. In the Customer field, enter XXX (where XXX are your initials) and press Tab. 2. Navigate to the Billing > Detail sheet. 3. In the Finance/Late Charge field, select XXX Poor Payment History (where XXX are your initials). 4. Click Save. 5. Exit Customer Maintenance.

Process Finance/Late Charges Use Process Finance/Late Charge to calculate appropriate finance charges based on the data entered in the program. When you submit this process, an un-posted accounts receivable (AR) invoice group is created which can then be reviewed and posted at once or at a later time. Once the invoice group posts, it acts exactly like other AR invoices. It displays on the Aged Receivables Report and the customer is responsible for paying the charges. Example

Data previously entered in Finance/Late Charge Maintenance: Field

Data

Charge ID

XXXLate (where XXX are your initials)

Charge %

5

Invoice Line Description

Finance/Late Charge

Minimum Charge

8.50

Payment Days

15

Terms

Net 30

Include Open Invoices

Check box selected

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Application Setup


Process Finance/Late Charges

It is common to process finance/late charges soon after cash receipts are posted for the week. When processing finance/late charges, enter information that pertains to when the process should run, what date it should run as of, and what the name of the group of charges should be when it di splays in AR Invoice Entry. For example: Field

Data

Schedule

Now

As of Date

Today's Date

Group ID

FINCHG

After entering this information, submit the process. When it completes, a FINCHG group is available for selection in AR Invoice Entry. That group contains an interest invoice for each customer attached to the charge who is late on a payment as of the date defined in the As of Date field above. Menu Path


Financial Management > Accounts Receivable > General Operations > Process Finance/Late Charges

Workshop - Process Late Charges In this workshop, process late charges for customer, Addison. A Late Payment Fee finance charge was assigned to Addison's record, and since then, they have fallen behind in payments. Note: The charges you generate in this workshop are not associated with the late charge you entered in the Workshop - Create and Assign a Finance Charge. Customer, XXX Inc. (where XXX are your initials), has not been late on their invoices since you assigned the Poor Payment History fee to their customer record.

Navigate to Process Finance/Late Charges . Menu Path: Financial Management > Accounts Receivable > General Operations > Process Finance/Late Charges 1. In the Group ID field, enter LATE. 2. Click Process. 3. Exit Process Finance/Late Charges .

Review and Post Finance Charge Invoice Navigate to AR Invoice Entry. Menu Path: Financial Management > Accounts Receivable > General Operations > Invoice Entry 1. In the Group field, search for and select the group, LATE. This group was created as a result running the Process Finance/Late Charge. 2. In the Invoices grid, review the Type field of the invoice that displays. The Type field displays FCH. This indicates the invoice is charging a finance charge. 3. Review the invoice that displays.

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Application Setup

4. From the Actions menu, select Group > Post. The AR Post Process window displays. 5. Click Submit. 6. Close the AR Post Process window and exit AR Invoice Entry.

Reminder Group Maintenance Use Reminder Group Maintenance to define sequences of reminder letters and the message for each letter i n each sequence. Sequences can be based on aging brackets or the intervals between letters: •

Letters generated based on due dates use aging brackets defined in the Sequence Detail sheet. For example, you define a sequence with days to reminder that occur at 0, 30, 60, 90, and 120. As a result, the first remi nder is printed on the due date, the second 30 days after the due date, and the last 120 days after the due date. The due date controls the schedule, so generation of the first letter 10 days after the due date has no effect on generation of the second letter 30 days after the due date.

•

Letters generated based on last reminder use intervals defined in the Sequence Detail sheet. For example, you you define a sequence with days to reminder that occur at 0, 30, 30, 30, and 30. As a result, the first reminder is printed on the due date and the others at 30-day intervals thereafter. The printing date controls the schedule, so generation of the first l etter 10 days after the due date results in the second printing 40 days after the due date.

Association of a group with a customer results in the customer's receiving letters based on group settings. The association occurs in Customer Maintenance, and letters are printed and posted in Reminder Letter Generation. You might chose to create one group with a milder set of messages for customers who routinely pay on time and a group used with customers who routinely pay late. The particulars of each message typically vary according to their position in the group's sequence. Menu Path


Financial Management > Accounts Receivable > Setup > Reminder Group

Workshop - Create and Assign a Reminder Group A customer consistently needs to be asked to pay the overdue balance on their account. Create a reminder group to link to this customer's record. Important Due to necessary database setup and specific data used to generate a reminder letter, this workshop can only be performed by one person on a shared database. If you are unable to complete this workshop, this does prohibit you from completing Workshop - Generate and Post a Reminder Letter.

Create a Reminder Group Navigate to Reminder Group Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Reminder Group 1. From the New menu, select New Reminder Group. 2. In the Group ID field, enter XXX (where XXX are your initials).

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Application Setup


3. In the Description field, enter XXX Past Due (where XXX are your initials). 4. In the Date Offset pane, select Due Date. 5. Click Save.

Design a Reminder Sequence 1. Navigate to the Sequence > Detail sheet. 2. From the New menu, select New Reminder Sequence. 3. In the Days to Reminder field, enter 30. 4. In the Message field, enter the contents of the reminder letter.

For example: Payment is 30 days past due. A l ate charge will be assessed if remittance is not received within 10 days. Please pay promptly. Thank you. 5. Click Save. 6. From the New menu, select New Reminder Sequence. 7. In the Days to Reminder field, enter 45. 8. In the Message field, enter the contents of the second reminder letter.

For example: This bill is 45 days late and has been assessed a late charge. To avoid further penalties, please remit at once. Thank you. 9. Click Save. 10. From the New menu, select New Reminder Sequence. 11. In the Days to Reminder field, enter 60. 12. In the Finance/Late Charge field, select Late Payment Fee. 13. In the Message field, enter the contents of the final reminder letter.

For example: This is your final notice of late payment. You have been charged a late fee. To avoid possible litigation, please contact our billing department at 1-800-555-5555. 14. Click Save and exit Reminder Group Maintenance.

Assign a Reminder Group Navigate to Customer Maintenance. Menu Path: Financial Management > Accounts Receivable > Setup > Customer 1. In the Customer field, enter ADDISON and press Tab.

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Application Setup

2. Navigate to the Billing > Detail sheet. 3. In the Reminder Group field, select XXX Past Due (where XXX are your initials). 4. Click Save. 5. Exit Customer Maintenance.

Reminder Letter Generation Use Reminder Letter Generation to create reminder letters and post finance charges connected with them. The following are the Actions menu options: •

Get - Use the Get > Customers option to search for and select customers.

•

Customers - Use the Customers > Generate Letters option to generate reminder letters for customers listed in the Customers sheet.

•

Reminder Letters - Use the Reminder Letters > Print and Post options to print and post reminder letters for selected customers.

Menu Path


Financial Management > Accounts Receivable > General Operations > Reminder Letters Generation

Workshop - Generate and Post a Reminder Letter In this workshop, generate and post a reminder letter for customer KCMOLD to advise them of their overdue invoices. Important Due to necessary database setup and specific data used to generate and post a reminder letter, this workshop can only be performed by one person on a shared database.

Generate a Reminder Letter Navigate to Reminder Letter Generation. Menu Path: Financial Management > Accounts Receivable > General Operations > Reminder Letters Generation 1. From the Actions menu, select Get > Customers.

The Search Form window displays. 2. Click Search. 3. Select ADDISON and click OK. 4. From the Actions menu, select Customers > Generate Letters .

The Set Age date window displays. 5. In the As of Date field, select today's date. 6. Click OK.

The customer's overdue invoices and reminder letters display.

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Application Setup


Print Preview a Reminder Letter 1. From the Actions menu, select Reminder Letters > Print.

The Reminder Letter window displays. 2. Click Print Preview and review the reminder letter. 3. Close the report and the Reminder Letter window.

Post a Reminder Letter 1. From the Actions menu, select Reminder Letters > Post. 2. To the Are you sure? message, click Yes.

Clicking yes to this message posts the reminder letter. The next time a reminder letter generates for the invoices in this letter, the second sequence in the reminder group generates. 3. Exit Reminder Letter Generation.

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Daily Accounts Receivable Processing

Daily Accounts Receivable Processing This section of the Accounts Receivable course focuses on Accounts Receivable processes which may take place during a typical work day. The following processes involving Accounts Receivable are performed on a regular basis: •

AR Invoice Entry

•

Cash Receipts Entry

•

Apply Credit Memo

•

Reverse Cash Receipt

AR Invoice Entry Use AR Invoice Entry to bill customers for products and services a company sells. Revenue and the corresponding AR values for shipped products do not update the general ledger (GL) until an invoice is created and posted. A group methodology is used to collect invoices and post them as a group (batch) to the GL in the same fiscal period. Until a group posts, the GL does not update. The actual group I D is immaterial and can be used again as soon as the original posts. Note Reports and trackers used throughout the invoicing process are illustrated in this section of the course. Menu Path


Financial Management > Accounts Receivable > General Operations > Invoice Entry

Actions Menu The Actions menu in AR Invoice Entry contains several processes you can use on your open invoices. The Get functions allow you to pull information from various sources to create invoices within the current group. The Group functions allow you to view and post the invoices within the current group. The Invoice functions allow you to move invoices from one group to another as well as update payment schedules.

Transfer Use the Invoice > Transfer option to move a selected invoice from one entry group to another. Tip Use this option if you have invoices in several groups that you want to print and post at the same time. When you transfer invoices into a single entry group, you only need to run the Print and Post functions once.

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Locate Invoice Group Use the Locate Invoice Group option to find a group that includes a specific invoice. This option locates the group number; you can then enter this group number on the Group sheet to display the invoices within the entry group.

Copy Invoice Lines Use the Copy Invoice Lines option to adjust posted invoices that contain errors. You can add adjusting entries to a miscellaneous invoice, shipment invoice, or credit memo. To do this, copy selected lines to the original invoice. You can opt to create the adjusting line as a reversing entry. This can result in the creation of a zero-balance invoice. Adjustments only affect financial processes. They have no effect on shipments or other processes connected with the original invoice. If the Reference Invoice number is specified in the invoice header, this invoice is used as a source copy item. Important

Invoice adjustment requires implementation of legal numbering.

AR Invoice Types This section of the course describes seven unique AR invoice types. •

Advance Billing Invoice

•

Deposit Billing Invoice

•

Shipment Invoice

•

Cancellation Invoice

•

Credit Memo

•

Miscellaneous Invoice

•

Correction Invoice

As each invoice type is discussed, note the individual characteristics that differentiates it from the others. Example The choice of whether to create an advance billing or deposit billing invoice comes down to how the prepaid amount must be consumed. •

An Advance Billing Invoice links prepaid amounts to specific order lines and releases. As shipments occur to the specified lines and releases, the prepaid amounts are consumed.

•

A Deposit Billing Invoice only requires a sales order reference. Shipment of a line or release tied to the specified sales order consumes the prepaid amount.

Note Most invoice types (excluding Cancellation Invoices) allow pre-defined records from Miscellaneous Charge Maintenance, Product Tax Category Maintenance, and Tax Liability Maintenance to be added at the time of invoice entry. Attach these records to an i nvoice line. To create an invoice for a miscellaneous charge or for taxes only, add a blank line to the invoice and attach the charge or tax record to it. Note If you have Tax Connect installed, disable it on the Company Configuration > Modules > Finance > Tax Interface sheet or in Tax Reconciliation in order to complete the upcoming workshops.

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Advance Billing Invoices Advance Billing Invoices are customer invoices created prior to shipping products or services. This invoice type must be linked to a sales order, an order line, and an order release. It is possible to choose whether the advance billing amount should credit the Deferred Revenue account defined in or the ordered part’s Sales (Revenue) account. Advance Billing Invoices must be created prior to creating a packing slip for the related sales order line and release; however, a cash receipt for this invoice is not required prior to the shipping and invoicing of the related product or service. The total amount of the Advance Billing Invoice is deducted from the Shipment Invoice, even if the customer has yet to pay the invoice. An Advance Billing Invoice remains on the Aging Report until it is paid. Even if the total of that advance is deducted from the customer's Shipment Invoice before the Advanced Billing Invoice has been paid, the Advance Billing Invoice still remains as an outstanding i nvoice against the customer until it is paid.

Workshop - Create Advance Billing Invoices In this workshop, create advance billing invoices for two existing sales orders. On one invoice, select the Deferred Revenue check box and on the other, do not. When the group posts, review the results of both methods. Important Due to necessary database setup and specific data used to create an advanced billing invoice, this workshop can only be performed by one person on a shared database. If you are unable to complete this workshop, this does prohibit you from completing some of the workshops to follow.

If the sales orders used in this workshop are closed, you have the option to duplicate each of the sales orders. By duplicating the sales orders you will be able to perform the functionality in this workshop as well as workshops to follow. Review the Duplicating Sales Order Option listed in the Workshop Constraints section of this course.

Create an Invoice Group Navigate to AR Invoice Entry. Menu Path: Financial Management > Accounts Receivable > General Operations > Invoice Entry 1. From the New menu, select New Group. 2. In the Group field, enter XXX (where XXX are your initials). 3. Accept the other defaults. 4. Click Save.

Add an Advance Billing Invoice Header 1. From the New menu, select New Advance Billing. The Header > Detail sheet displays. 2. In the Sales Order field, enter 5084 and press Tab.

The Deferred Revenue check box defaults as selected on the invoice header. 3. Click Save.

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Add a Line 1. From the New menu, select New Line. 2. In the SO Line/Rel field, enter the following information: Field

Data

SO Line

1

Rel

1

3. In the Extended Price field, enter 50.00. 4. Click Save.

Add an Additional Line 1. From the New menu, select New Line. 2. In the SO Line/Rel field, enter the following information: Field

Data

SO Line

2

Rel

1


Create Another Advance Billing Invoice 1. From the New menu, select New Advance Billing. 2. In the Sales Order field, enter 5130 and press Tab. 3. Clear the Deferred Revenue check box. 4. Click Save.

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Data

SO Line

1

Rel

1


Print Preview the Invoice Group Edit List 1. From the Actions menu, select Group > Edit List.

The Invoice Entry - Group Edit List window displays. 2. Accept the defaults. 3. Click Print Preview to view the details and general ledger (GL) recap for this invoice group. Note Review the deferred revenue account. Only the line amounts of the first invoice entered affect this account.

4. When complete, close the report and the Invoice Entry - Group Edit List window.

Post the Invoice Group 1. From the Actions menu, select Group > Post.

The AR Invoice Post Process window displays. 2. Click Submit. 3. Close the AR Invoice Post Process window. 4. Minimize AR Invoice Entry.

Deposit Billing Invoices A deposit billing invoice is a customer down-payment or pre-payment that must be linked to an order but not to a specific order line or release. The Prepayment account defined in the default GL control code (Type - AR Account) offsets the Receivables account in this transaction type. Sales order deposits can also be created directly in Cash Receipt Entry. The difference between creating a deposit invoice and creating a deposit through cash receipts is mainly that a physical i nvoice can be printed if a deposit billing invoice is created. Also, if you do not choose to create a deposit billing invoice, the Receivables account

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is never affected by the deposit amount. Only when a deposit i nvoice posts, is the Receivables account debited. Once an invoice payment posts, the Receivables account is credited.

Workshop - Enter a Deposit Billing Invoice Your company's policy states that a 50% down payment must be received prior to the shipment of goods. Because it does not matter which line the down payment is applied to, a deposit invoice can be used to bill your customer for the down payment. In this workshop, create a deposit billi ng invoice for 50% of a customer's existing sales order. Important Due to necessary database setup and specific data used to enter a deposit billing invoice, this workshop can only be performed by one person on a shared database. If you are unable to complete this workshop, this does prohibit you from completing some of the workshops to follow.

If sales order 5094 is closed, you have the option to duplicate the sales order. By duplicating the sales order you will be able to perform the functionality in this workshop as well as workshops to follow.

Enter a Deposit Billing Invoice Header 1. From the New menu, select New Group. 2. In the Group field, enter XXX2 (where XXX are your initials). 3. From the New menu, select New Deposit Billing.

The Header > Detail sheet displays. 4. In the Sales Order field, enter 5094 and press Tab. 5. Click Save.

Add Deposit Information 1. Navigate to the Line > Deposit sheet. 2. In the Extended Price field, enter 1531.25. 3. Click Save.

Post the Invoice Group 1. From the Actions menu, select Group > Post.

The AR Invoice Post Process window displays. 2. Click Submit. 3. Close the AR Invoice Post Process window. 4. Minimize AR Invoice Entry.

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Advanced Billing/Deposit Balance Report The Advance Billing/Deposit Balance Report allows you to view the total outstanding balance for advance billing and deposit billing invoices or payments made against sales orders. This report can be filtered for all or one selected customer. You can have this report display deposit totals, advanced billing totals, or both. You can include unallocated deposits in the report by selecting the Show Unallocated Deposits check box. This report displays the deposit or the advanced billing balance made on each specific sales order, depending on your selection. This amount is the total deposit or advance amount, minus the value of the order or order line. Logic Advance/Deposit Total = Order Value – Total Advanced/Deposit Amount

This total value can never be less than zero. Tip Note that this report does not show the specific payments that the customer made for the total deposit or advance amounts. To view these specific payments, run the AR Aging report.

Use this program to produce the Advanced Billing/Deposit Balance report. Use the Selection sheet to select the report parameters. Use the Filter sheet(s) to select the specific records to include on the report. For more information, refer to the Filters Overview topic in the Application Help. Important For more information on how to review the status of a report you print, preview, or generate, refer to the System Monitor Overview topic in the Application Help. Menu Path


Financial Management > Accounts Receivable > Reports > Advance Billing/Deposit Balance

Workshop - View Sales Order Balances Two advance billing invoices and one deposit billing invoice have posted. Running the Advance Billing/Deposit Balance Report allows you to verify that the correct sales orders maintain the proper pre-payment amounts. Navigate to the Advance Billing/Deposit Balance Report. Menu Path: Financial Management > Accounts Receivable > Reports > Advance Billing/Deposit Balance Important If you were unable to complete Workshop - Create Advanced Billing Invoices and Workshop - Enter a Deposit Billing Invoice, you will not be able to complete this workshop. You have the option to print the report and review previously posted advanced bi lling and deposit billing invoices. Results will vary. 1. Accept the default values. 2. Click Print Preview and review the values recorded against sales orders 5084, 5130, and 5094. 3. Close the report and exit the Advance Billi ng/Deposit Balance Report.

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Sales Order Tracker The Sales Order Tracker displays read-only information about open and closed sales orders, including shipment activity, invoice activity, header and line item information, as well as sales order advances and deposit balances. Each tracker can contain sheets from the primary entry program and supplemental sheets unique to the tracker. Information on primary sheets and fields is included in the Application Help for the entry program. Supplemental sheet information is included in the Application Help for the specific tracker. Menu Path


Executive Analysis > Trackers > Order Tracker

•

Financial Management > Accounts Receivable > General Operations > Order Tracker

•

Material Management > Shipping / Receiving > General Operations > Order Tracker

•

Production Management > Scheduling > General Operations > Order Tracker

•

Sales Management > Customer Relationship Management > General Operations > Order Tracker

•

Sales Management > Order Management > General Operations > Order Tracker

•

Sales Management > Quote Management > General Operations > Order Tracker

•

Service Management > Field Service > General Operations > Order Tracker


Customer Relationship Management > Sales and Marketing Management > General Operations > Order Tracker

•

Customer Relationship Management > Order Management > General Operations > Order Tracker

•

Customer Relationship Management > Quote Management > General Operations > Order Tracker

Workshop - Use the Sales Order Tracker In this workshop, review current information about sales orders 5084, 5130, and 5094 which were modified in previous workshops. Navigate to the Sales Order Tracker. Menu Path: Financial Management > Accounts Receivable > General Operations > Order Tracker Important If you were unable to complete Workshop - Create Advanced Billing Invoices and Workshop - Enter a Deposit Billing Invoice, you will not be able to complete this workshop. 1. In the Sales Order field, enter 5084 and press Tab.

This is the sales order to which you posted the first Advanced Billing Invoice. 2. Navigate to the Invoices sheet. 3. Click Retrieve and review the invoice details. 4. Navigate to the Header > Order Totals sheet. Note the values in the Advance Balance and Deposit Balance fields. 5. Repeat steps 1-4 for sales orders 5130 and 5094.

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6. Exit the Sales Order Tracker.

Customer Statements Customer Statements are forms that can be sent to a customer to recap current AR activity. Only customers coded for Statement Print in Customer Maintenance are selected to print when printing for all customers.

If a customer is not coded for Statement Print in Customer Maintenance, to print a statement, select that customer in the report options. Menu Path


Financial Management > Accounts Receivable > Reports > Customer Statements

Commission Report The Commission Report displays sales commission information for selected salespeople. The report pulls commission records from a specific time period, as determined by the From Date and To Date you specify. If the salesperson is paid commissions based on customer payments, miscellaneous charges and credit memo amounts are deducted before the final commission amount is calculated. Menu Path


Financial Management > Accounts Receivable > Reports > Commission

Sales Tax Report The Sales Tax Report lists the tax reportable sales within the selected taxing jurisdictions. You can select specific date ranges for the report. Menu Path


Financial Management > Accounts Receivable > Reports > Sales Tax

Shipment Invoices Invoices for products or services shipped via Customer Shipment Entry generate automatically using the Action menu's Get > Shipments option. Note Pack slips that do not have the Shipped check box selected cannot have an invoice generated through Get Shipments.

As noted above, the shipped status of a customer packing sli p plays an important role in determining whether an invoice can be automatically created. Other factors that impact a shipment's ability to generate an i nvoice via Get Shipments include: •

Shipment Date vs. Invoice Group Date.

•

Billing Day settings on an individual customer's maintenance program setup.

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•


The Company Configuration setting for the Save Shipments for Invoicing option.

The number of invoices generated for each customer is based on two selections on the customer record's Billing > Detail sheet in Customer Maintenance. •

Consolidate Sales Orders - Select this check box if you want Get Shipments to generate one invoice that contains multiple shipped orders. If you clear this check box, separate invoices are created for each order placed by this customer that has shipped.

•

Combine Packing Slips - Select this check box if you want Get Shipments to generate a single invoice for packing slips created for the same order and fiscal period. If you clear this check box, each packing slip pul led into the AR invoice group creates a separate invoice. This happens even if they were created for the same sales order.

For more information about these settings, refer to the Application Help.

Workshop - Ship Customer Orders Ordinarily, accounting personnel are not responsible for shipping customer orders, however the shipping clerk is on vacation and you have been asked to step in. In addition to shipping the orders, you have been asked to add a miscellaneous charge to one. Important If you were unable to complete Workshop - Create Advanced Billing Invoices, you will not be able to complete this workshop. Contact your system administrator to refresh your education database.

Ship Sales Order Lines Navigate to Customer Shipment Entry . Menu Path: Material Management > Shipping / Receiving > General Operations > Customer Shipment Entry 1. From the New menu, select New Pack. 2. In the Order Number field, enter 5084 and press Tab. 3. Click the Mass Shipment button. 4. Click the Ship All button. 5. Click the Update button.

A negative quantity warning message may display. If yes, to the message, click Yes. 6. Select the Shipped check box and note the packing slip number __________. 7. Click Save.

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Add a Miscellaneous Charge 1. From the New menu, select New Pack. 2. In the Order Number field, enter 5130 and press Tab. 3. Click the Mass Shipment button. 4. Click the Ship All button. 5. From the New menu, select New Misc Charge. 6. In the Charge ID field, select XXX Refundable Pallet Charge (where XXX are your initials). 7. In the Charge Amount field, enter 14.00. 8. Click Save. 9. Navigate to the Summary sheet and click the Update button. 10. Select the Shipped check box and note the packing slip number __________. 11. Click Save and exit Customer Shipment Entry.

Workshop - Invoice Shipments You must now invoice the shipments you made. The consumption of the advance billing amounts posted in a previous workshop displays on the appropriate invoice lines. Important If you were unable to complete Workshop - Create Advanced Billing Invoices and Workshop - Ship Customer Orders you will not be able to complete this workshop. Contact your system administrator to refresh your education database.

Create an Invoice Group 1. Maximize AR Invoice Entry. 2. From the New menu, select New Group. The Group > Detail sheet displays. 3. In the Group field, enter XXX3 (where XXX are your initials).

Accept the other defaults. 4. Click Save.

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Generate Shipment Invoices 1. From the Actions menu, select Get > Shipments.

The Get Shipments window displays. 2. Click the Manual Selection button. 3. Select the two packing slips you created in the Workshop - Ship Customer Orders. 4. Click OK. 5. To the Are you Sure? message, click Yes. 6. Click OK to the message that displays saying invoices were created.

In the Invoices grid, two shipment invoices display. 7. Review the line and header details for both invoices.

Review Miscellaneous Charge Information 1. Navigate to the Line > Misc Charge sheet for Northern Machine's invoice. 2. Review the miscellaneous charge.

The pallet charge you added to the packing slip's header displays. The charge does not display on the invoice header because an AR invoice can be for multiple shipments, and this miscellaneous charge only pertains to this one shipment.

Post the Invoice Group 1. From the Actions menu, select Group > Post. The AR Invoice Post Process window displays. 2. Click Submit. 3. Close the AR Invoice Post Process window and remain in AR Invoice Entry.

Shipped Not Invoiced Report The Shipped Not Invoiced Report displays sales orders whose parts were shipped to customers; these customers have not received shipment invoices for these shipments. Sales orders shipped during a selected date range display on the report. Menu Path


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Financial Management > Accounts Receivable > Reports > Shipped Not Invoiced

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Cancellation Invoices AR Invoice Entry provides the ability to directly cancel a posted invoice. The result is a credit memo created directly against the invoice selected for cancellation. This process copies previous invoice l ines and detail information into the credit memo. Note The invoice cancellation process does not reopen order packing slips. You must manually open packing slips that need to be updated. Invoice Cancellation Process

Workshop - Cancel a Posted Invoice In this workshop, cancel a previously posted shipment i nvoice. Important Due to necessary database setup and specific data used to cancel a posted invoice, this workshop can only be completed by one person on a shared database. 1. From the New menu, select New Group. The Group > Detail sheet displays. 2. In the Group field, enter XXX4 (where XXX are your initials). 3. Click Save. 4. From the Actions menu, select Create Cancellation Invoice.

The Create Cancellation Invoice window displays. 5. In the Legal Number field, enter 10033 (which is the invoice number) and press Tab. 6. Click OK. 7. To the Are you Sure? message, click Yes 8. Review the Cancellation Invoice created. 9. From the Actions menu, select Group > Post.

The AR Invoice Post Process window displays. 10. Click Submit. 11. Close the AR Invoice Post Process window and remain in AR Invoice Entry.

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Credit Memo Entry Credit memos are transactions that reduce, or credit, a customer's receivables balance. Miscellaneous, Deposit Billing, and Advance Billing credit memos are created and posted within AR Invoice Entry. Cash Receipts Entry uses Unapplied or On Account receipt balances to automatically generate credit memos. A sales order is not required when creating a miscellaneous credit memo, but if an order is selected, a corresponding line item and release must also be selected. Alternately, it is possible to enter a valid invoice number which automatically populates the related sales order information. Credit memo types include: •

Credit Memo - This is a basic credit memo that reduces a customer's receivable balance. Basic credit memos do not have to reference an invoice or sales order but must reference a customer.

•

Advance Billing Credit Memo - This is a credit memo that reduces an advance billing invoice and removes the advance balance from the referenced sales order line. This credit memo type is order-line specific.

•

Deposit Billing Credit Memo - This is a credit memo that reduces a deposit billing invoice and removes the deposit balance from the referenced sales order. This credit memo type is not order-line specific.

Use a credit memo to refund a credit card payment. Once a credit memo is created, use Apply Document to apply a credit payment to the credit card transaction associated with the order or customer. This action credits back the card. To learn more about credit card processing in the Epicor application, refer to the Credit Card Processing course. The course provides workshops that detail setting up the Epicor application to use credit cards and process credit card transactions.

Workshop - Create Credit Memos The pallets you shipped to customer Northern Machine for sales order 5130 i n a prior workshop were returned. Create a credit memo that credits Northern Machine's account for the returned pallets. In addition, Clarke Manufacturing cancelled open sales order 5122, but an advanced billing invoice has already posted for that order, and a check was sent. Before closing that order, remove the advance from it. Create an advanced billing credit memo for Clarke Manufacturing to remove the advanced billing balance from sales order 5122 and credit the advanced billing invoice. Important

Due to necessary database setup and specific data used to create credit memos, this workshop can only be performed by one person on a shared database. To complete this workshop on a shared database, you have the option to duplicate the sales order. Review the Duplicating Sales Order Option listed in the Workshop Constraints section of this course. Contact your system administrator to verify your education database is refreshed.

Create an Invoice Group 1. From the New menu, select New Group. 2. In the Group field, enter XXX5 (where XXX are your initials). 3. Accept the other defaults. 4. Click Save.

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Enter a Credit Memo Header 1. From the New menu, select New Credit Memo .

The Header > Detail sheet displays. 2. In the Sold To Customer field, enter Northern and press Tab. 3. Click Save.

Add a Line Miscellaneous Charge 1. From the New menu, select New Line. 2. From the New menu, select New Line Misc Charge. 3. In the Charge field, select XXX Refundable Pallet Charge (where XXX are your initials). 4. In the Amount field, enter 14.00.

Even though the amount displays as positive, i t creates an accounts receivable credit because the invoice type is Credit Memo. 5. Click Save.

Create an Advance Billing Credit Memo 1. From the New menu, select New Advance Billing Credit Memo. 2. In the Sales Order field, enter 5122 and press Tab. 3. Click Save.


Data

SO Line

1

Rel

1


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Post the Credit Memos Group 1. From the Actions menu, select Group > Post. The AR Invoice Post Process window displays. 2. Click Submit. 3. Close the AR Invoice Post Process window and remain in AR Invoice Entry.

Miscellaneous Invoices A miscellaneous invoice can reference a sales order or an inventoried line item but does not have to. If a non-part line item is invoiced, the Part and Description fields can be used to enter the reason for the invoice (for example, Cancellation Fee). A miscellaneous invoice can also be created for tax purposes only or be designated as a recurring source invoice to use as a template for other recurring invoices. In a miscellaneous invoice, the offsetting credit account(s) derives from the product group chosen on the invoice lines. Often, a product group called Misc Income is created and used on miscellaneous invoices. Although a valid part can be selected, corresponding Cost Of Sales (COS) amounts are not recorded for miscellaneous invoices.

Adjust Sales Accounts on AR Invoice Lines You can now update sales accounts on miscellaneous invoice lines within AR Invoice Entry. The sales of products or services often need to be placed within different sales accounts. AR Invoice Entry now contains the functionality to override the default sales account within each AR invoice miscellaneous line. If it is necessary to record the sale of the goods or service within a different account, select the sales account you require.

Workshop - Enter a Miscellaneous Invoice A tenant leasing a portion of your company's site space needs to be invoiced. Create a miscellaneous i nvoice to bill the tenant using the terms code created in a prior workshop for scheduled payments.


Create a Miscellaneous Invoice 1. From the New menu, select New Miscellaneous Invoice.

The Header > Detail sheet displays. 2. In the Sold To Customer field, enter USASHELF and press Tab.

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3. In the Terms field, select XXX 12 Month Payment Schedule (where XXX are your initials). 4. Click Save.

Enter Line Information 1. From the New menu, select New Line. 2. In the Part/Rev field, enter Lease Payment. 3. In the Quantity field, enter 12. 4. In the Unit Price field, enter 2000.00. 5. Click Save.

Review the Payment Schedule 1. From the Actions menu, select Invoice > Payment Schedule. The Invoice Payment Schedule Maintenance window displays.

If needed, manually update scheduled payment due dates. The Aged Receivables Report begins aging as each scheduled payment's due date is reached. 2. Click OK.

Print the Invoice Tip Either an individual or entire group of invoices can print during invoice processing. If a new copy of an invoice or credit memo is needed, it can print from either Posted Invoice Update or the I nvoice Tracker. 1. From the Actions menu, select Group > Print Invoices. The Print Group window displays. 2. Click Print Preview.

Review the payment schedule and terms printed on the invoice. 3. Close the preview window and the Print Group window. 4. Remain in AR Invoice Entry.

Workshop - Update the Sales Account on a Miscellaneous AR Invoice Line Update the default sales account on the invoice line you entered in the Workshop - Enter a Miscellaneous Invoice. Updating this account enables you to record this miscellaneous item to a GL account that differs from your default sales account. 1. Navigate to the current invoice's Line > Detail sheet. 2. From the Actions menu, select Line > Get Default Account.

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At the bottom of the sheet, the GL Account fields populate with the default book and sales account. 3. In the Account field, clear the default account, and enter 4065-00-10. 4. Click Save. 5. From the Actions menu, select Group > Post.

The AR Invoice Post Process window displays. 6. Click Submit.

Close the AR Invoice Post Process window and remain in AR Invoice Entry.

Workshop - Create a Miscellaneous Invoice for Tax Only Create a miscellaneous invoice for tax only. Similar steps are used to create an invoice for a single miscellaneous charge. In this case, you would attach a miscellaneous charge record to the blank line instead of attaching a tax record. Note A customer does not have to be attached to a tax liability record to be manually charged tax at the time of invoicing. In this workshop, the customer we are invoicing happens to be i n a tax liability that includes the tax we are manually adding to the invoice. That fact does not have to be true to complete this workshop.


Create a Miscellaneous Invoice 1. From the New menu, select New Miscellaneous Invoice. 2. In the Sold To Customer field, enter XXX (where XXX are your initials) and press Tab. 3. From the New menu, select New Line. 4. Click Save.

Add Tax to an Empty Invoice Line 1. From the New menu, select New Tax Code.

The Line > Tax > Detail sheet displays. 2. In the Tax Type field, select XXX Sales Tax (where XXX are your initials).

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3. Verify the Manual Tax Calculation check box is selected. 4. In the Fixed Amount field, enter 19.80. 5. Click Save. 6. Navigate to the Group > Detail sheet and review the invoice amount.

Workshop - Create an Additional Miscellaneous Invoice In this workshop, create an additional miscellaneous i nvoice. This invoice will later be corrected when you create a correction invoice in a later workshop. 1. From the New menu, select New Miscellaneous Invoice. 2. In the Sold To Customer field, enter XXX (where XXX are your initials) and press Tab. 3. From the New menu, select New Line. 4. Click Save.

Update a Line Record 1. In the Quantity field, enter 50. 2. In the Unit Price field, enter 25.00. 3. Click Save.

Note that the Total amount is 1,250.00

Print Preview the Edit List 1. From the Actions menu, select Group > Edit List.

The Invoice Entry - Group Edit List window displays. 2. Accept the other defaults. 3. Click Print Preview and review the group details. 4. Close the AR Invoice Edit List and the Invoice Entry - Group Edit List windows.

Post the Invoice Group 1. From the Actions menu, select Group > Post. The AR Invoice Post Process window displays. 2. Click Submit. 3. Close the AR Invoice Post Process window. 4. Remain in AR Invoice Entry. Epicor ERP | 10.0.700.2

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Recurring Invoices If you have invoices for the same product and services which occur on a specific schedule, you can use the functionality in AR Invoice Entry to re-create them automatically based on specified parameters. You do not have to manually create such invoices. Important Recurring invoices are only allowed for miscellaneous invoices.

To use recurring invoices, you need to: 1.

Define a recurring cycle in Recurring Cycle Maintenance.

2.

Flag an invoice as a recurring source invoice and assign a cycle.

3.

Use the Generate Recurring Invoices process to generate recurring invoices based on the recurring source invoice.

Workshop - Create a Recurring Source AR Invoice In this workshop, create a miscellaneous AR invoice and designate it as a recurring source invoice. You will use this invoice as a template to generate AR recurring invoices. 1. From the New menu, select New Group. The Group > Detail sheet displays. 2. In the Group field, enter XXX8 (where XXX are your initials). 3. Click Save. 4. From the New menu, select New Miscellaneous Invoice. 5. In the Sold to Customer field enter Addison and press Tab. 6. Click Save. 7. Select the Recurring check box at the bottom of the form. 8. In the Cycle Code field, select XXXMonthlyRecurrence (where XXX are your initials).

The details from the recurring cycle you selected are pulled into the invoice. 9. From the New menu, select New Line. 10. In the Description field, enter Services. 11. In the Quantity field, enter 12. 12. In the Unit Price field, enter 200. 13. Click Save. 14. Navigate to the Header > Recurring sheet.

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15. Note that the details from the selected recurring cycle are displayed.

Post the Invoice Group 1. From the Actions menu, select Group > Post. The AR Invoice Post Process window displays. 2. Click Submit. 3. Close the AR Invoice Post Process window. 4. Remain in AR Invoice Entry.

Workshop - Create a Single Recurring AR Invoice In this workshop, create a recurring AR invoice based on the recurring source invoice you created in the previous workshop. Use the Get Recurring Invoices Action command in AR Invoice Entry. 1. From the New menu, select New Group. The Group > Detail sheet displays. 2. In the Group field, enter XXX9 (where XXX are your initials). 3. In the Invoice Date field, select the first day of the next month. 4. In the Apply Date field, select the first day of the next month. 5. Click Save. 6. From the Actions menu, select Get > Recurring Invoices.

The Get Recurring Invoices window displays. Here you can filter for which customers and from which cycles you want to generate invoices. 7. Click Cycle Codes and search for and select XXXMonthly Recurrence (where XXX are your initials). 8. Click Manual Selection to select from a list of the recurring source invoices available. 9. Select the Recurring Source AR invoice created in the previous workshop and click OK. 10. Click Yes in the confirmation window to the message that displays. 11. Click OK. 12. Minimize AR Invoice Entry.

A new invoice is created from the selected recurring source invoice. Each new invoice is a copy of the recurring source invoice, including comments, charges, commissions, GL accounts, and other information. Tip If necessary, you can change the data that pulls from the recurring source invoice into the recurring invoice. If the Copy Latest Invoice option is selected on the recurring source invoice, the details will be copied from the latest posted recurring invoice for that recurring series of the recurring source invoice.

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Workshop - Generate Recurring AR Invoices In this workshop use the Generate Recurring Invoices process to generate AR recurring invoices. This process is useful if you have a high volume of recurring invoices. Navigate to Generate Recurring Invoices. Menu Path: Financial Management > Accounts Receivable > General Operations > Generate Recurring Invoices 1. Verify that Now displays in the Schedule field. 2. In the As of Date field, enter the first day of the month, three months from today. 3. Enter XXX (where XXX are your initials) in the Group ID field. 4. Click the Process button. 5. Exit Generate Recurring Invoices.

Retrieve Generated Invoices In this workshop task, retrieve the AR recurring invoices you generated. 1. Maximize AR Invoice Entry. 2. Click the Group button and search for and select the group you created running the Generate Recurring Invoice process. 3. Review the invoices you generated that display i n the Invoices grid. 4. Remain in AR Invoice Entry.

Correction Invoices You can create a correction invoice by using the Create Correction Invoice Action command in AR Invoice Entry. Correction invoices are created from source invoices. Once created, a correction invoice displays in AR Invoice Entry with the same header information as the original invoice and invoice lines pulled with negative and positive quantities.

Workshop - Create a Correction Invoice In this workshop, create a correction invoice for a previously posted miscellaneous invoice. Important Due to necessary database setup and specific data used to cancel a posted invoice, this workshop can only be completed by one person on a shared database. 1. From the New menu, select New Group.

The Group > Detail sheet displays. 2. In the Group field, enter XXX11 (where XXX are your initials). 3. Click Save.

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4. From the Actions menu, select Create Correction Invoice. The Create Correction Invoice window displays. 5. Click the Legal Number and search for and select the miscellaneous invoice you created in Workshop Create an Additional Miscellaneous Invoice where the Total is $1,250.00. 6. Click OK.

The invoice displays in AR Invoice Entry. 7. Click the Summary sheet and review the correction invoice that was created. Note the negative and positive totals on the lines. 8. From the Actions menu, select Group > Post.

The AR Invoice Post Process window displays. 9. Click Submit. 10. Close the AR Invoice Post Process window and exit AR Invoice Entry.

AR Aged Receivables Report The Aged Receivables Report displays open accounts receivable (AR) invoices and credit memos, and sorts them into default aging columns defined in Aging Report Format Maintenance. The aging columns are defined by the Aging Format selected within your AR Configuration. You can select invoices for your report by Apply Date or Invoice Date. The records can be aged by Due Date or Invoice Date against the date in the Aged As Of field. When an aging report is run by Due Date, the Future column contains posted invoices that are not due as of the Aged As of Date selected on the report. When the report is run by Invoice Date, no entries display in the Future column unless an invoice is posted with a date that is the same as the Aged As of Date selected on the report. If credit memos are selected for an aging report, they are shown with negative amounts. Example An invoice is dated 5/1/09 and has payment terms set to Net 30. It is due on 6/1/09. On the Due Date version of this report, it is i n the Future column because it is not yet due. On the Invoice Date version, this invoice is in the Current column. Tip This report can work as a subsidiary ledger for your AR accounts. Enter the Aged As Of date for your report. As a result, the report total should reconcile to the ending balance of the Accounts Receivable account.

Use the Selection sheet to select the report parameters. Use the Filter sheet(s) to select the specific records to include on the report. For more information, refer to the Filters Overview topic in the Application Help. Important For more information on how to review the status of a report you print, preview, or generate, refer to the System Monitor Overview topic in the Application Help. Menu Path


Financial Management > Accounts Receivable > Reports > Aged Receivables

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Workshop - Use the Aged Receivables Report In this workshop, use the Aged Receivables Report to display some of your company's open invoices. Navigate to the Aged Receivables Report. Menu Path: Financial Management > Accounts Receivable > Reports > Aged Receivables 1. Accept the report defaults. 2. Click Print Preview and review the report. Note The data displays on this report in the format you should use if you are trying to reconcile the GL against the Aged Receivables.

3. Close the preview window and exit the Aged Receivables Report.

G/L Distribution Report The G/L Distribution Report shows the GL effect of the transaction types selected and displays transactions which are ready to post.. You have the option to select date range or a specific fiscal period for your report. Menu Path


Financial Management > Accounts Payable > Reports > G/L Distribution

•

Financial Management > Accounts Receivable > Reports > G/L Distribution

•

Financial Management > Payroll > Reports > G/L Distribution

AR Invoice Tracker Use the AR Invoice Tracker to drill into selected invoices and get information for an invoice. This includes information such as the posted status, shipping information, payment activity, schedules, GL transactions, header and line item information, as well as memos linked to the selected invoice. The Sales Order Tracker can also be accessed from within the Invoice Tracker. The Invoice Tracker is a display-only version of AR Invoice Entry which contains supplemental sheets not found in AR Invoice Entry. Records cannot be added or updated in trackers. You can also use AR Invoice Tracker to track recurring AR invoices. The Header – Recurring sheet displays the recurring invoice information that you added in AR Invoice Entry. Click the Retrieve button to: •

Retrieve invoices that were generated for the selected recurring source invoice.

•

View the total value that was invoiced for the recurring series.

•

View the latest posted invoice from the series and the next invoice date.

The required information is displayed under the Recurring Invoices grid. Menu Path


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Executive Analysis > Trackers > A/R Invoice Tracker

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•

Financial Management > Accounts Receivable > General Operations > Invoice Tracker

•

Financial Management > Deferred Revenue Accounting > General Operations > Invoice Tracker

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Sales Management > Customer Relationship Management > General Operations > Invoice Tracker

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Sales Management > Order Management > General Operations > Invoice Tracker

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Service Management > Field Service > General Operations > Invoice Tracker


Customer Relationship Management > Sales and Marketing Management > General Operations > Invoice Tracker

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Customer Relationship Management > Order Management > General Operations > Invoice Tracker

Cash Receipts Entry Use Cash Receipts Entry to enter and post cash receipts. These are transactions you enter for customer payments, customer credits, or miscellaneous cash amounts. Important Before you can transact within Cash Receipts Entry, you must set up your fiscal periods in Fiscal Period Maintenance.

A group methodology is used when processing cash receipts. Payments are grouped together to post in a batch mode and update the General Ledger (GL). Unlike an invoice entry group, a cash receipts entry group always defines the date of the payments in the group, the accounting period it posts to, and the bank account affected. Note Entry Groups - These are comprised of transactions that occur during the same time period and are ready to edit, print, and post. Entry groups are sometimes referred to as batches. An entry group can also assign default transaction dates, fiscal periods, and account numbers for the cash receipts in the group.

You can create the following cash receipt transaction types: •

Invoice Payments - These transactions are entered with basic check i nformation. They include detail lines that describe how the check is used against the customer's outstanding invoices. These transactions debit the Cash account and credit the Accounts Receivable account.

•

Deposit Payments - These transactions track down payments made against specific sales orders (allocated) or not linked to a sales order (unallocated). They debit the Cash account and credit the account number you enter, which is normally a Prepayments liability account.

•

Miscellaneous Payments - These transactions track miscellaneous cash received from sources other than customers; they do not change customer AR balances. They debit the Cash account and credit the account number you select.

•

Debit Notes - Enter these transactions when a customer requires a payment or invoice deduction. These transactions create open payable amounts. Debit notes can be applied as unall ocated amounts on a payment. They can also be linked directly to an invoice, reducing the invoice's total amount due.

You can also create Unapplied Receipts. By selecting the On Account check box, these transactions are automatically created when you enter a customer payment that is not applied to a specific open invoice or credit memo. Note You can use Apply Credit Memos to assign this amount to another i nvoice. You can also use AR Write Off and Adjustment to adjust the balance. For more information, refer to the Apply Credit Memo and AR Write Off and Adjustment topics in the Application Help.

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When cash receipts post, they update invoice balances, create GL entries, and update Bank Reconciliation deposit information. Menu Path


Financial Management > Accounts Receivable > General Operations > Cash Receipt Entry

•

Financial Management > Cash Management > General Operations > Cash Receipt Entry

Invoice Payments An invoice payment is a customer cash receipt entered with basic check information, and includes detail lines that describe how the check is used against the customer's outstanding invoices. Key components used when entering an invoice payment include: •

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Invoice Selection - If known, an invoice number can be entered on a cash receipt's header, and the corresponding customer numbers default. If unknown, a customer ID and its invoice(s) can be selected by using the A/R Receipt > Invoice Selection sheet, where open invoices display. If multiple invoices are selected,

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and their sum is greater than the check amount, the dollars are applied to the oldest invoice first, and then each subsequent invoice until there are no dollars left to apply. •

Allocate - Once dollar amounts are applied to selected invoices, use the Allocate sheet to change the cash amount applied to specific invoices if necessary.

•

On Account - Once dollars are applied to selected invoices, the remaining balance, if one exists, can be placed on the customer's current account by selecting the On Account check box in any of the sheets. On Account amounts update the Unapplied Cash account defined in the default GL control code (Type - AR Account) and are treated the same as credit memos. Credit memos can be applied against open invoices in Cash Receipt Entry or applied to open invoices using Apply Credit Memo.

Invoice Selection You can now automatically include negative receipts during invoice selection by selecting the Allow Negative Receipts option in Cash Receipts Entry. Within Cash Receipts Entry, select the Electronic Interface > Select Invoice Action command. From the Select Invoices screen that displays, select the Allow Negative Receipts check box to include negative receipts in your invoice selection process. Negative receipts will then display and be included for selection in the grid and prompts eliminated. A clear check box is the default, without negative receipts displaying in the selection grid.

Workshop - Apply Payment and Cancellation Invoice to Open Invoices Twin Cities Motor Company sent a check to pay for their open invoices. Apply the customer's check, as well as the cancellation invoice you posted in a previous workshop, to the open invoices on their account.

Create a Cash Receipt Entry Group Navigate to Cash Receipts Entry. Menu Path: Financial Management > Accounts Receivable > General Operations > Cash Receipt Entry 1. From the New menu, select New Group. 2. In the Group field, enter XXX (where XXX are your initials). 3. In the Bank Account field, select Main Checking Account. 4. Click Save.

In the Transaction Apply Date field, today's date defaults.

Add an Invoice Payment 1. From the New menu, select New Invoice Payment. 2. In the Check field, enter XXX-1 (where XXX are your initials). 3. In the Receipt Amount field, enter 8919.89. 4. In the Customer ID field, enter TWINCITIES and press Tab. 5. Click Save.

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Select Invoices to Pay 1. Navigate to the A/R Receipt > Invoice Selection sheet. 2. In the Invoices grid, select the Selected check box for each invoice. 3. In the Discount field for each invoice, enter 0.00. 4. Click the Apply button. 5. Navigate to the A/R Receipt > Allocate sheet. 6. Select the On Account check box. 7. Click Save and remain in Cash Receipts Entry.

Workshop - Apply Cash and a Credit Memo to Invoices A check from Clarke Manufacturing was received in today's mail. Apply that check to Clarke's open invoices. Also, apply Clarke Manufacturing's open advanced billing credit memo for $1.00 (created in a prior workshop) against their open advanced billing invoice balance (also $1.00). Place the remaining balance from the check on the customer's account as a new Unapplied Receipt (UR) Credit Memo.

Create an Invoice Payment 1. From the New menu, select New Invoice Payment. 2. In the Check field, enter XXX-2 (where XXX are your initials). 3. In the Receipt Amount field, enter 1,777.75. 4. In the Customer ID field, enter Clarke and press Tab. 5. Click Save.

Select Invoices to Pay and a Credit Memo to Apply 1. Navigate to the A/R Receipt > Invoice Selection sheet. 2. Select the Selected check box for each invoice, to apply cash to Clarke's open invoices, i ncluding the advanced billing credit memo (-1.00). 3. In the Discount field for each invoice, enter 0.00. 4. Click the Apply button. 5. Click Save.

Allow Unapplied Cash to Post 1. Navigate to the A/R Receipt > Allocate sheet.

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2. Select the On Account check box. 3. Click Save.

Once this payment posts, the check's unapplied amount ($1.00) becomes an Unapplied Receipt (UR) Credit Memo on Clarke Manufacturing's account. 4. Remain in Cash Receipts Entry.

Miscellaneous Payments Use Cash Receipts Entry to enter miscellaneous payments. These transactions track miscellaneous cash received from sources other than customers; they do not change customer AR balances. Miscellaneous transactions debit the Cash account and credit the account number you select. You can also use the Misc sheet to enter or select sales taxes for miscellaneous payments. After you enter the main information for the payment, enter tax information. Enter or edit sales taxes within the Miscellaneous Payment Tax List grid.

Workshop - Enter a Miscellaneous Cash Payment A company has a recycling bin for aluminum cans in their break room. The cans they gather are periodically turned in to the local recycling center, and the cash is deposited in the company’s petty cash account. Enter a miscellaneous cash payment for the can deposit return. 1. From the New menu, select New Misc Payment. 2. In the Check field, enter Cash. 3. In the Amount field, enter 34.10. 4. In the Credit GL Account - Account field, enter 7000-00-00. 5. Click Save and remain in Cash Receipts Entry.

Prepayments In the Epicor application, you can enter an AR prepayment as a deposit invoice or as a deposit payment. A deposit payment can later be converted to a deposit i nvoice. A deposit invoice entered manually must be allocated (linked to a sales order). A deposit invoice can be converted from an unallocated (not linked to a sales order) payment deposit if you have selected the correct Individual Deposit Invoice Tracking settings under the Modules > Finance> Accounts Receivable sheet in Company Configuration. Allocated deposits are processed and closed automatically once you process a shipment invoice for the linked sales order. Deposits functionality: •

The ability to convert a deposit payment to a deposit invoice (invoice is created based on the payment and is completely paid at the time of creation).

•

The ability to calculate tax on deposit invoices.

•

The ability to apply credit memos to deposits (payments and invoices).

•

Unallocated deposits (deposits not linked to sales orders) required for some countries. Note An unpaid deposit invoice is not a deposit in the sense of the commonly understood business meaning, of money received from the customer in advance showing intention to complete the deal. Rather,

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an unpaid deposit invoice is a request for deposit. Deposit invoices become actual deposits onl y after you receive payment from the customer. Note Unallocated deposits play almost the same role as credit memos - they credit the customer balance and affect the credit limit calculation accordingly. Also, an unallocated deposit must be matched to a regular AR invoice. Unpaid, unallocated deposits do not affect customer balances or credit limits. Further, unallocated deposit invoices are stored in the application as zero-amount invoices.

Use of deposit invoices (whether created manually or converted from deposit payments) provides extended options which are not available in the case of deposit payments. These extended options are as follows: •

Deposit invoices can be printed, and therefore are necessary when documentation is required.

•

Taxes can be calculated and booked for deposit invoices but not for deposit payments.

•

More complex posting is available for deposit invoices.

•

Deposit invoices you create manually are best to use when tracking of payments is necessary (for example, when you receive payments with sufficient delay, in several installments, in a foreign currency, or when you can apply payment terms or finance/late charges).

Workshop - Enter Deposit Payments Enter two deposit payments for customer, Lawrence Tooling. Allocate one deposit payment to a specific sales order, but do not allocate the other deposit payment. In the upcoming Workshop - Convert a Deposit Payment to a Deposit Invoice, you will convert a deposit payment you post into a deposit invoice. Important Due to necessary database setup and specific data used to enter a deposit payment, this workshop can only be performed by one person on a shared database.

If sales order 5198 has already been closed, you have the option to duplicate sales order and post a deposit cash receipt against it.

Enter an Unallocated Deposit Payment This procedure will only work when you select the Company Configuration settings made in Workshop - Select AR Deposit Tracking Settings. 1. From the New menu, select New Deposit Payment. The Deposit sheet displays. 2. In the Check field, enter XXX-3 (where XXX are your initials). 3. In the Amount field, enter 100.00. 4. In the Cust ID field, enter LAWTOOL and press Tab. 5. In the Account field, enter or verify 7300-00-00 displays. 6. Click Save.

Enter an Allocated Deposit Payment 1. From the New menu, select New Deposit Payment. 2. In the Sales Order field, enter 5198 and press Tab.

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3. In the Check field, enter XXX-4 (where XXX are your initials). 4. In the Amount field, enter 100.00. 5. In the Account field, enter or verify 7300-00-00 displays. 6. Click Save.

Workshop - Post a Cash Receipt Group 1. From the Actions menu, select Post.

The Cash Receipt Post Process window displays. 2. Click Submit and close the Cash Receipt Post Process window. 3. Minimize Cash Receipts Entry.

Workshop - Convert a Deposit Payment to a Deposit Invoice In this workshop, convert the allocated deposit payment you posted in the Workshop - Enter Deposit Payments, to an Accounts Receivable Deposit Billing Invoice. Navigate to AR Invoice Entry. Menu Path: Financial Management > Accounts Receivable > General Operations > Invoice Entry 1. From the New menu, select New Group. 2. In the Group field, enter XXX12 (where XXX are your initials). 3. Click Save. 4. From the Actions menu, select Get > Deposit Payment. The Get Deposit Payments window displays. 5. Click Manual Selection.

The Deposit Payments Browse window displays. 6. Select Check/Ref XXX-4 (where XXX are your initials). 7. Click OK.

The Are you sure? message displays. 8. To the message, click Yes. 9. Review the invoice created as a result of converting the deposit payments. 10. From the Actions menu, select Group > Post.

The AR Invoice Post Process window displays. 11. Click Submit.

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12. Close the AR Invoice Post Process window and exit AR Invoice Entry.

Debit Notes Debit notes (charge-backs) from customers can be entered as part of the cash receipts process and can be applied as part of the settlement process. Debit notes either relate to specific invoices or remain unassigned. They remain as open receivables until they are matched with a credit memo or subsequently paid. Entering a debit note does not admit liability. It creates an open debit note which can be collected later or matched to an off-setting credit memo in the future. To learn more about the debit note process, refer to the Debit Note Processing course.

Workshop - Post a Debit Note In this workshop, post a debit note for no specific invoice. This debit note stays on the customer's account until it is matched to a credit memo.

Enter a Debit Notes Only Group 1. Maximize Cash Receipts Entry. 2. From the New menu, select New Group. 3. In the Group field, enter XXX-DN (where XXX are your initials). 4. In the Bank Account field, select XXX Debit Notes Only (where XXX are your initials). 5. In the Transaction Apply Date field, verify today's date defaults. The Fiscal Year and Fiscal Period values default based on the transaction date. 6. Click Save.

Enter an Invoice Payment 1. From the New menu, select New Invoice Payment.

The A/R Receipt > Header sheet displays. New Invoice Payment is the only option available when you use a bank account that has the Debit Notes Only option selected. 2. In the Check field, accept the default value. 3. In the Receipt Amount field, enter 10. 4. In the Customer ID field, enter Dalton and press Tab.

Enter a Debit Note without Specifying an Invoice 1. From the New menu, select New Debit Note.

The A/R Receipt > Debit Note > Detail sheet displays.

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2. In the Debit Note Reference field, enter XXX-DN100 (where XXX are your initials). 3. In the Debit Note Value field, enter 10.00. 4. In the Debit Note Due Date field, accept today's date default. 5. Click the Apply button.

Place the Debit Note On Account 1. Navigate to the A/R Receipt > Allocate sheet. 2. Select the On Account check box.

In the Invoices grid, the invoice displays as 9999999 since there was no invoice assigned to the debit note. 3. Click Save.

Post the Debit Note 1. From the Actions menu, select Post.

The Cash Receipt Post Process window displays. 2. Click Submit. 3. Close the Cash Receipt Post Process window. 4. Exit Cash Receipts Entry.

Credit Card Processing Credit card information can be entered on sales orders and cash receipts, and the information can be applied to invoices in Cash Receipt Entry as sales are processed. Use Apply Credit Memo to credit a customer's credit card account as returns are processed. Before credit card transactions can be processed, an interface with PayPal must be established. Credit card transactions include the following: •

Customer invoice payments

•

Customer credits

•

Miscellaneous cash payments

If you are interested in learning more about credit card processing in the Epicor appl ication, refer to the Credit Card Processing course. The course provides workshops that detail setting up the Epicor application to use credit cards and process credit card transactions.

Invoice Discount Analysis Report The Invoice Discount Analysis Report provides information on customer invoices that have received discounts in cash receipts. You can print this report for Earned Discounts or for Not Earned Discounts. This report calculates and displays the best date on which customers should pay each invoice to receive a discount according to their terms. You can filter this report by customer and by invoice. Epicor ERP | 10.0.700.2

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Menu Path


Financial Management > Accounts Receivable > Reports > Invoice Discount Analysis

Cash Receipt Tracker The Cash Receipts Tracker displays cash receipt record information in a dashboard format. This includes information such as the check number, invoice and appli ed amount, payment type, unapplied amounts, fiscal year and period. You cannot edit or add records in this tracker. Note The Receipt Header grid is designed to display each transaction in the transactional history of a cash receipt. Consequently, a record may display multiple times in the grid. Menu Path


Executive Analysis > Trackers > Cash Receipt Tracker

•

Financial Management > Accounts Receivable > General Operations > Cash Receipt Tracker

•

Financial Management > Cash Management > General Operations > Cash Receipt Tracker

Apply Document Use Apply Document to place an open credit memo, unallocated deposit invoice, or unallocated deposit payment balance against an open invoice. You can apply one of these document types against one or multiple invoices or credit payment. You can only select invoices created for the customer listed on the document. Note A Credit Memo is a specific type of Accounts Receivable invoice; it contai ns a transaction that reduces, or credits, a customer's receivable balance. Credit memos may or may not refer to a sales order. Important Before you can apply a credit memo through this program, you must post to your general ledger (GL) via AR Invoice Entry. For more information, refer to the Application Help topic: AR Invoice Entry > Post Invoice Group.

On the Summary sheet in this program, select the credit memo with which you want to work. Next, define the amount from the credit memo to apply. Use the Detail sheet to select which invoices receive the credit amount or the Credit Payment sheet to select credit payments to receive the amount. Lastly, apply the credit memo amounts the command available from the Actions menu. Note If a credit card needs to be refunded, enter a credit memo for the order or customer, and in Apply Document, apply a credit payment to the credit card transaction associated with the order or customer. This action credits back the card. Tip When you apply credit memos, you also create GL transactions. Transactions are placed within the GL accounts selected for the customer credit memo. For details on the creation of GL transactions, refer to the Application Help topic: Posting to GL. Tip You can place credit memos against invoices in Cash Receipts Entry.

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Menu Path


Financial Management > Accounts Receivable > General Operations > Apply Credit Memo

Workshop - Apply Document In this workshop, use Apply Document to apply to an open invoice the unallocated deposit payment you posted in the Workshop - Enter Deposit Payments to an open invoice. Important Due to necessary database setup and specific data used to complete the apply document feature, this workshop can only be performed by one person on a shared database. If invoice number 10207 is unavailable for selection in the task, Select an Invoice, you are not able to complete this workshop as written.

To complete this workshop, you must perform one of the foll owing options: •

Skip this workshop and move forward with the course.

•

Enter and post an AR Miscellaneous Line invoice for customer, LAWTOOL. The invoice number you post can then be substituted for invoice number 10207 in this workshop. For instructions on how to enter and post an AR Miscellaneous Line invoice, refer to the Application Help.

Select a Document to Apply Navigate to Apply Document. Menu Path: Financial Management > Accounts Receivable > General Operations > Apply Credit Memo 1. From the New menu, select New Document to Apply. 2. In the Source Type field, select Unallocated Deposit Payment. 3. In the Document field, search for and select Check/Ref XXX-3 (where XXX are your initials). 4. Click Save.

Select an Invoice 1. Navigate to the Detail sheet. 2. From the New menu, select New Invoice. 3. In the Invoice field, enter 10207 and press Tab. 4. In the Credit Amount field, enter 100.00. 5. Click Save. 6. Navigate to the Summary sheet.

Invoice 10207 displays in the Applied Invoices grid.

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Apply the Document 1. From the Actions Menu, select Apply Credit Memo. 2. Exit Apply Document.

Workshop - Apply a Credit Memo to an Open Invoice Apply the credit memo for the returned pallet (created in the previous workshop) to Northern Machine's open shipment invoice. Important If you were unable to complete Workshop - Create Credit Memos , you will not be able to complete this workshop. Contact your system administrator to refresh your education database.

Select a Credit Memo Navigate to Apply Document. Menu Path: Financial Management > Accounts Receivable > General Operations > Apply Credit Memo 1. From the New menu, select New Document To Apply. 2. In the Source Type field, select Credit Memo/Correction Invoice. 3. Click the Document button.

The Accounts Receivable Invoice Search window displays. 4. In the Customer field, enter Northern and click Search. 5. In the Search Results grid, select the credit memo created earlier to credit Northern Machines in the amount of $14.00 for a miscellaneous pallet charge. 6. Click OK. 7. Click Save.

You are using the entire credit memo amount so the data in the Amount to Apply field does not need to change. When the balance of a credit memo is higher than the balance of the invoice to which it is being applied, this amount must be changed. The remaining amount remains open on the existing credit memo.

Select an Invoice to Credit 1. From the New menu, select New Invoice. 2. Right-click the Invoice field and select Open With > Invoice Search. 3. Click Search. 4. In the Search Results grid, select the shipment invoice posted for Northern Machine (for $14.00). 5. Click OK.

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6. Click Save.

Apply the Credit Memo 1. From the Actions menu, select Apply Credit Memo. If you do not click Save prior to this step, the Apply Credit Memo option will not be available. 2. Exit Apply Document.

Reverse Cash Receipt Use Reverse Cash Receipt to reverse a posted cash receipt. Reverse Cash Receipts provides access to existing posted cash receipts and provides the ability to reverse the total amount.

This process cancels the cash receipt and adds the previously paid i nvoice amount back into the invoice the cash receipt paid. If the invoice was paid in full, the invoice status changes from closed to open. The reversal process: •

Creates a receipt that contains a reversing entry. This negative receipt updates the balances of allocated invoices. This process leaves an audit trail.

•

Allows the application of new cash receipts to invoices to which the original receipt applied.

•

Reverses journals in books affected by posting of the original receipt.

This process does not apply to miscellaneous cash receipts or deposits applied to an invoice. In some cases, a portion of the cash receipt can be unapplied. This can occur when a credit memo is created for an invoice to which the receipt appli es. In this case, the process: •

Creates a debit memo to reverse the unapplied portion of the receipt. The Epicor application uses the credit memo settings to create a debit memo marked as unapplied cash.

•

Transfers the unapplied portion of the credit memo to the new debit memo.

Reverse Cash Receipt Process

Menu Path


Financial Management > Accounts Receivable > General Operations > Reverse Cash Receipt

•

Financial Management > Cash Management > General Operations > Reverse Cash Receipt

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Workshop - Reverse a Posted Cash Receipt and Review Results Reverse a posted cash receipt. When complete, review the Customer Tracker to see if the pai d invoice re-opens as a result of the reversal. Important Due to necessary database setup and the specific data used to reverse a posted cash receipt, this workshop can only be completed by one person on a shared database.

If cash receipt 214 has already been reversed, use this workshop to learn the process and review the results of reversing a posted cash receipt. To review the results, navigate to the Customer Tracker and follow the steps in the Review the Customer Tracker piece of the workshop.

Reverse a Cash Receipt Navigate to Reverse Cash Receipt. Menu Path: Financial Management > Accounts Receivable > General Operations > Reverse Cash Receipt 1. Click the Search (binoculars) icon. The Search Form displays. 2. In the Customer field, enter Dalton and click Search. 3. Select receipt 214 and click OK. 4. In the Reverse Date field, select today's date. 5. Click the Reverse button. 6. To the Are you Sure? message, click Yes. The Information window displays. 7. To the message, click OK. 8. In the Customer ID field, right-click and select Open With > Customer Tracker

The Customer Tracker displays.

Review the Customer Tracker Tip Use the Customer Tracker to view information about a customer. Each sheet contains l inks to additional trackers. For instance, the Invoice sheet can take you to the Invoice Tracker. The Invoice sheet also provides the ability to see an online aging report. Further, the Actions menu provides an option to add quotes, sales orders, RMAs, and more. When selected, the Epicor application redirects you to the appropriate program and defaults to the specified customer. 1. In the Customer field, enter Dalton and press Tab. 2. Navigate to the Financial > Payments sheet and click the Retrieve button. Note that two entries exist for invoice 10020. One is the initial cash receipt and the other is the reversal you just posted. The reversal displays a negative payment amount. 3. Navigate to the Financial > Invoices > Open sheet and click the Retrieve button.

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Note that invoice 10020 is now an open invoice. 4. Exit the Customer Tracker and Reverse Cash Receipt.

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Specialized Accounts Receivable Processing


Specialized Accounts Receivable Processing This section of the Accounts Receivable course focuses on Accounts Receivable processes which take place outside of a typical daily AR routine. The following specialized accounts receivable processes discussed in this course are as follows: •

AR Write Off and Adjustment

•

Customer Credit Manager

AR Write Off and Adjustment Use AR Write Off and Adjustment to adjust an amount against an open invoice or credit memo. The amounts you enter increase or decrease the invoice balance and create general ledger (GL) entries. Note You can adjust an open invoice to zero dollars to write it off, but that invoice closes and cannot be re-opened or re-adjusted. If an amount is left on an adjusted invoice, it can be adjusted back up to its original invoice amount. Use caution when increasing an invoice amount. If the original invoice is linked to an order, reconciliation can become difficult.

Further considerations about adjustments: •

The GL account number that is debited (or credited when adjusting a credit memo) with the adjustment amount is user-defined.

•

A group is not required to adjust an invoice amount.

•

A posting action is not necessary when adjusting or writing off an invoice; the GL updates once the adjustment saves.

•

If the invoice has pending cash receipts, you cannot adjust its amount until after the invoice posts.

•

To change an invoice that has pending cash receipts, use AR Invoice Entry.

•

Taxable adjustments are not allowed for payment timing taxes or withholding taxes.

When you adjust an AR invoice, you can select a document type for the adjusted invoice. If a legal number is set for the selected document type, legal number information is updated accordingly when a legal number is generated. The red storno value is defined by the selected document type. You can configure the Red Storno option in the Transaction Document Type Maintenance program. Before adjusting an invoice requiring a legal number or using the Red Storno option, you must create a document type for the adjusted AR invoice in the Transaction Document Type Maintenance program and associate this document type with a legal number configuration in the Legal Number Maintenance program. Tip For more details on the specific GL transactions that can be created from AR adjustments, refer to the Application Help topic: Posting to GL. Menu Path


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Workshop - Write Off a Customer's Bad Debt Your company's controller agreed to write off the remaining balance of invoice 10024 for customer Mass Heat and Air. In this workshop, adjust an open invoice's balance to $0.00. Navigate to AR Write Off and Adjustment. Menu Path: Financial Management > Accounts Receivable > General Operations > Write Off and Adjustment Important Due to necessary database setup and specific data used to write off a customer's bad debt, this workshop can only be performed by one person on a shared database. If this process has already been completed for invoice 10024, when you attempt to save the adjustment, an error message will display stating this invoice is closed. 1. In the Invoice field, enter 10024 and press Tab.

Review the fields that populate and note the invoice balance. 2. In the Adjustment field, enter -200.00. 3. In the Account field, enter 6400-00-00.

The account selected is the Bad Debt Expense account. This account is debited when this transactions posts. When using the standard posting rules, the credit account used when adjusting an AR invoice is the Receivables account the original invoice debited. 4. In the Description field, enter Write off approved by XXX (where XXX are your initials). 5. Click Save. The AR Invoice Adjustment Process window displays. 6. Click Submit and close the AR Invoice Adjustment Process window.

Invoice 10024 is now closed and off the aged receivables. 7. Exit AR Write Off and Adjustment. Optionally, navigate to the Customer Tracker and display Mass Heat and Air's closed invoices. Invoice 10024 should now display as closed.

Customer Credit Manager Use Customer Credit Manager to review and update the complete credit information for a customer. Customer Credit Manager displays the customer’s open sales orders, invoices, and payments to help make informed credit decisions. The program also displays the contacts listed for this customer’s company. If your company uses External System Integration, you can share sales order information across your company’s various site locations. Customers that purchase products at your different sites are classified as global customers. Customer Credit Manager then displays this customer’s global credit information, calculating invoice and order amounts from records gathered from site locations. Customer Credit Manager pulls this information together which enables you to change customer credit information. You can also place all or some of the customer’s open sales orders on credit hold. If a change is made to a National Account Relationship while in Customer Credit Manager, an action called Recalculate Credit National Account must be run. This action updates the credit of each customer in the Epicor ERP | 10.0.700.2

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relationship that was affected by the update. When a recalculation is needed, a message displays on the record that states Should be recalculated. This message not only displays on the updated record but also on customers in the relationship that were affected by the update. A similar message displa ys on the master account relationship record and the customer maintenance record. You can perform the action within National Account Relationship Maintenance instead of Customer Credit Manager if necessary. The credit checking functionality only reviews the credit for Bill To Customers. These are the customer locations that make payments on your invoices. Each customer record either uses a default Bi ll To location or an alternate Bill To location (a leasing company or a head office) for payment. Menu Path


Financial Management > Accounts Receivable > General Operations > Customer Credit Manager

Workshop - Manage Customer Records Enter a sales order for the customer and review the credit manager before and after the record is entered. Also, use the Customer Credit Manager to review the customer's national account credit. While reviewing, you decide this customer should not have access to the credit pool. Make the change to the record and recalculate the credit national account. Important If you were unable to complete Workshop - Update a National Account Relationship , you will not be able to complete this workshop. You have the option to use a different customer record to complete this workshop, however your results may not follow those outlined i n this workshop.

Review a Customer's Credit Navigate to Customer Credit Manager . Menu Path: Financial Management > Accounts Receivable > General Operations > Customer Credit Manager 1. In the Cust ID field, enter BUCK675 and press Tab. 2. Review the credit detail for this customer.

Note that this customer has no open orders, invoices, or payment i nstruments. 3. Minimize Customer Credit Manager.

Enter a Sales Order Navigate to Sales Order Entry. Menu Path: Sales Management > Order Management > General Operations > Order Entry Tip The CRM menu path is: Customer Relationship Management > Order Management > General Operations > Order Entry 1. From the New menu, select New Order. 2. In the Customer field, enter BUCK675. 3. Navigate to the Lines > Detail sheet. 4. From the New menu, select New Line.

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5. In the Part/Rev field, enter Test. 6. In the Order Quantity field, enter 2. 7. In the Unit Price field, enter 5000 and press Tab. 8. Click Save and exit Sales Order Entry.

View Customer Orders and Credit 1. Maximize Customer Credit Manager . 2. Click Refresh.

Note the change in the Order Credit, Credit Total, and Open Orders fields. 3. Navigate to the Orders sheet. 4. Click Retrieve.

The order added in the previous task now displays. 5. Navigate to the National Account Credit sheet and review the Credit Available pane. 6. Note the amount in the Parent's field. ____________ 7. In the National Accounts section, in the Credit Used pane, review the amounts in the fields.

The open order used the customer's Own credit and 1,500.00 of the Pool credit. None of the Parent's credit was used. The order in which the credit is used relates to the credit preferences selected on the customer record.

Update Customer Credit Preferences 1. In the Credit Preferences pane's Selected Preferences column, select Credit Pool. 2. Click the left arrow to move the selection into the Available column. 3. Click Save.

A Credit Hold Verification window displays a message to inform you that credits of the customers from this credit checking national account should be recalculated. It then asks if you would like to continue. 4. To the message, click Yes.

Note that 0.00 now populates the Credit Available pane's Pool field. In addition, a red indicator displays to advise you the credit national accounts should be recalculated.

Recalculate the Credit National Account 1. From the Actions menu, select Recalculate Credit National Account. The Apply National Account Credit Recalculation window displays. 2. Click Submit.

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3. Close the Apply National Account Credit Recalculation window. 4. Click Refresh.

Note the change in the amount in the Credit Used pane's Pool and Parent's field. The parent's credit limit now covers the $1500.00 the credit pool previously covered. 5. Minimize the Customer Credit Manager.

Workshop - Perform a Mass Credit Information Update Typically, if a customer goes over its credit l imit, it is automatically placed on credit hold. Because the last workshop's customer was included in a National Account Relationship, that did not happen. In this workshop, enter a sales order for the customer you created in a prior workshop. The order is for $11,000.00, which is $1,000 over its credit limit. After, mass update your customer's credit status in the Customer Credit Manager.

Enter a Sales Order Navigate to Sales Order Entry. Menu Path: Sales Management > Order Management > General Operations > Order Entry Tip The CRM menu path is: Customer Relationship Management > Order Management > General Operations > Order Entry 1. From the New menu, select New Order. 2. In the Customer field, enter XXX (where XXX are your initials) and press Tab. 3. Navigate to the Lines > Detail sheet. 4. From the New menu, select New Line. 5. In the Part/Rev field, enter Test and press Tab. 6. In the Order Quantity field, enter 11. 7. In the Unit Price field, enter 1,000.00 and press Tab. 8. Click Save.

A message displays that states customer XXX (where XXX are your initials) will be placed on credit hold. The message then asks if you want to continue. 9. To the message, click Yes. 10. Exit Sales Order Entry.

Mass Update a Customer's Credit 1. Maximize the Customer Credit Manager . Menu Path: Financial Management > Accounts Receivable > General Operations > Customer Credit Manager 2. Navigate to the Credit sheet. 96

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3. In the Cust ID field, enter XXX (where XXX are your initials) and press Tab. Note the Credit Hold check box is selected. 4. In the Credit Limit field, enter 12,000. 5. Clear the Credit Hold check box. 6. Click Save. 7. From the Actions menu, select Mass Credit Information Update. 8. Click Save and exit the Customer Credit Manager. Note You can now enter another sales order for this customer without going back on credit hold (as long as it is under $1,000.00). Also, you can ship the open order because the customer is no longer on hold.

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Conclusion


Conclusion Congratulations! You have completed the Accounts Receivable course.

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Appendix

Appendix The Accounts Receivable Course appendix contains a copy of the Epicor ERP Accounts Receivable Transaction Hierarchy. The Epicor ERP Accounts Receivable Transaction Hierarchy assumes your company uses an unmodified version of the Standard posting rules delivered with the Epi cor application. If you use the Extended posting rules, or if you need information regarding an AR transaction that is not li sted on this hierarchy, refer to GL Transaction Type Maintenance to review the operation details.

Epicor ERP Accounts Receivable Transaction Hierarchy This hierarchy is a summary of common general ledger (GL) transactions posted from within the Accounts Receivable (AR) module. Note This hierarchy assumes your company uses an unmodified version of the Standard posting rules delivered with the Epicor application. If you use the Extended posting rules, or if you need information regarding an AR transaction that is not listed on this hierarchy, refer to GL Transaction Type Maintenance and review the details of the AR Invoice posting rules.

In addition, this hierarchy does not include intercompany or consolidation transactions.

AR Invoice Entry - Add Invoice Transaction/Program Action

Debit

Credit

Receivables Account

Deferred Revenue Account

AR Invoice Entry Post Advanced Billing Invoice

1. AR Account GL Control With the Deferred Customer Revenue option 2. AR Account GL Control Company Config

1. AR Account GL Control Customer 2. AR Account GL Control Company Config Note: If you select the Deferred Revenue check box on an invoice line, the application credits the Deferred Revenue Account.

Post Advanced Billing Invoice

Without the Deferred Revenue option

Receivables Account

Sales Account

1. AR Account GL Control Customer

1. Product Group GL Control Product Group

2. AR Account GL Control Company Config

2. AR Account GL Control Customer 3. AR Account GL Control Company Config

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Appendix


Transaction/Program Action

Debit

Credit Note: If you clear the Deferred Revenue check box on an invoice line, the application credits the Sales Account.

Post Deposit Billing Invoice

Post Miscellaneous Charge Amount

Receivables Account

Prepayment Account





Receivables Account

Miscellaneous Charge Income Account


Post Credit Memo Returns Account

1. Account from GL Control on Miscellaneous Charge

Receivables Account

1. AR Account GL Control Product Group




3. AR Account GL Control Company Config Post Advance Billing Credit Memo

Deferred Revenue Account

Receivables Account



With the Deferred 2. AR Account GL Control 2. AR Account GL Control Revenue Account Company Config Company Config option Note: If you select the Deferred Revenue check box on a credit memo invoice line, the application debits the Deferred Revenue Account. Post Advance Billing Credit Memo

Sales Account

Receivables Account

1. AR Account GL Control Product Group


Without the 2. AR Account GL Control Deferred Customer Revenue Account option 3. AR Account GL Control Company Config


Note: If you clear the Deferred Revenue check box on a credit

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Appendix

Transaction/Program Action

Debit

Credit

memo invoice line, the application debits the Sales Account. Post Deposit Billing Credit Memo

Post Miscellaneous Invoice

Prepayment Account

Receivables Account





Receivables Account

Sales Account


1. Product Group GL Control Product Group


2. AR Account GL Control Customer 3. AR Account GL Control Company Config Note: A Sales Account can be updated on an AR invoice line at the time of invoice entry.

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Appendix


AR Invoice Entry - Action Menu Transaction/Program Function

Debit

Credit

AR Invoice Entry Actions Get Shipments Receivables Account - Post 1. AR Account GL Control Shipment - Customer Invoice 2. AR Account GL Control - Company Config

Sales Account

1. AR Account GL Control - Product Group 2. AR Account GL Control - Sold To Customer 3. AR Account GL Control - Bill To Customer 4. AR Account GL Control - Company Config Notes: •

If a Sales Category is used (invoice line or customer), the Department segment comes from the Department GL Control selected on the Sales Category.

•

If a Site is selected on the invoice, the Division segment comes from the Division GL Control selected on the Warehouse or Site.

Post Cancellation Invoice

Reverses original AR invoice Reverses original AR invoice GL credit GL debit transactions transactions

Post Finance Charges

Receivables Account

AR Finance Charge Accrual Account

1. AR Account GL Control 1. AR Account GL Control - Customer - Customer 2. AR Account GL Control - Company Config

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Appendix

AR Invoice Entry - Discounts and Taxes Transaction/Program Function

Debit

Credit

Sales Discount Account

Receivables Account

AR Invoice Entry Discounts and Taxes Post Discount Amount (All Invoice Types, Part)

1. AR Account GL Control - Product 1. AR Account GL Control Group Customer 2. AR Account GL Control - Customer 2. AR Account GL Control Company Config 3. AR Account GL Control - Company Config *If a Sales Category is used (invoice line or customer), the Department segment comes from the Department GL Control selected on the Sales Category. *If a Site is selected on the invoice, the Division segment comes from the Division GL Control selected on the Warehouse or Site.

Post Discount Amount (Credit Memo, Part)

Receivables Account

Discount Account

1. AR Account GL Control - Customer 1. AR Account GL Control Product Group 2. AR Account GL Control - Company Config 2. AR Account GL Control Customer 3. AR Account GL Control Company Config

Set Terms Discount (On Invoice)

Payment Discount

Receivables Account

1. AR Account GL Control assigned to invoice you are paying

1. AR Account GL Control assigned to invoice you are paying.

Sales Tax (All Invoice Types, Part)

Receivables Account

AR Tax Accrual Account

1. AR Account GL Control - Customer 1. Tax GL Control - Tax Type 2. AR Account GL Control - Company Config

Sales Tax (Credit AR Tax Accrual Account Memo, Part) 1. Tax GL Control - Tax Type

Receivables Account


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Appendix


Cash Receipt Entry Transaction/Program Function

Debit

Credit

Cash Account

Receivables Account

1. Bank GL Control - Bank Account

1. AR Account GL Control assigned to invoice you are paying.

Cash Receipt Entry Post Invoice Payment

Note If the Reconciled AR Balance check box is selected on the bank record in Bank Account Maintenance, this transaction debits the Pending Cash Account defined in the Bank GL Control instead of the Cash Account.

Book Unapplied Cash Note Unapplied cash on receipts creates Unapplied Receipt (UR) Credit Memos.

Cash Account

Unapplied Cash Account



Note If the Reconciled AR Balance check box is selected 2. AR Account GL Control on the bank record in Bank Company Config Account Maintenance, this transaction debits the Pending Cash Account defined in the Bank GL Control instead of the Cash Account.

Post Cash Account Enter Account Number on Miscellaneous Record 1. Bank GL Control - Bank Account Payment Note If the Reconciled AR Balance check box is selected on the bank record in Bank Account Maintenance, this transaction debits the Pending Cash Account defined in the Bank GL Control instead of the Cash Account.

Post Deposit Payment (Allocated or Unallocated)

104

Cash Account

Prepayment Account



Note If the Reconciled AR Balance check check box box is is selec selected ted on the bank record in Bank

2. Opti Option on to to enter enter Accoun Accountt Number on record.

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Appendix

Transaction/Program Function

Debit

Credit

Account Maintenance, this transaction debits the Pending Cash Account defined in the Bank GL Control instead of the Cash Account.

Post Debit Note

Receivables Account

1. AR Account GL Control - Customer 1. Bank GL Control - Bank Account 2. AR Account GL Control - Company Note If the Reconciled Config AR Balance check box is selected on the bank record in Bank Account Maintenance, this transaction credits the Pending Cash Account defined in the Bank GL Control instead of the Cash Account.

Book Bank Fee Bank Fee Account

1. Bank Fee GL Control - Bank Fee 2. Option to change account on the Cash Receipt (A/R Account > Bank Fee sheet)

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Cash Account

Cash Account

1. Bank GL Control - Bank Account Note If the Reconciled AR Balance check box is selected on the bank record in Bank Account Maintenance, this transaction credits the Pending Cash Account defined in the Bank GL Control instead of the Cash Account.

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Appendix


Apply Document Transaction/Program Function

Debit

Credit

Receivables Account

Receivables Account

Apply Document Apply Credit Memo

CM created in AR Invoice 1. AR Account GL Control 1. AR Account GL Control Entry - Posted Credit Memo Posted Invoice to which you are applying credit memo Apply Credit Memo

Unapplied Cash Account Receivables Account

CM created when 1. AR Account GL Control 1. AR Account GL Control unapplied cash posted in - Posted UR Credit Memo Posted Invoice to which you are Cash Receipt Entry applying the credit memo

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Appendix

Reverse Cash Receipt Transaction/Program Function

Debit

Credit

Reverse Cash Receipt Reverse Deposit Prepayment Account Payment Credit 1. AR Account GL Control - Source Cash Receipt

Cash Account

Reverse Invoice Payment Credit

Receivables Account

Cash Account

1. AR Account GL Control - Source Cash Receipt

1. Bank GL Control - Bank Account Source Cash Receipt

Account Selected on Source Cash Receipt

Cash Account

Reverse Miscellaneous Payment Credit

1. Bank GL Control - Bank Account Source Cash Receipt

Note If a Pending Cash Account is defined in the Bank GL Control, this transaction credits that account instead of the Cash Account.

1. Bank GL Control - Bank Account Source Cash Receipt Note If a Pending Cash Account is defined in the Bank GL Control, this transaction credits that account instead of the Cash Account.

Reverse Unapplied Cash Unapplied Cash Account

1. AR Account GL Control - Source Cash Receipt

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Cash Account

1. Bank GL Control - Bank Account Source Cash Receipt Note If a Pending Cash Account is defined in the Bank GL Control, this transaction credits that account instead of the Cash Account.

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Appendix


AR Write Off and Adjustment Transaction/Program Function

Debit

Credit

AR Write Off and Adjustment Increase or decrease an open invoice amount

Enter Account Number on Receivables Account Record 1. AR Account GL Control assigned to invoice you are adjusting

Increase or decrease an open credit memo amount

Receivables Account

1. AR Account GL Control assigned to credit memo you are adjusting

Enter Account Number on Record

Payment Instrument (PI) Receivable Entry Transaction/Program

Function

Debit

AR PI Payment

PI Receivable Account

Credit

Payment Instrument (PI) Receivable Entry

108

Receivables Account

1. AR Account GL Control assigned 1. Payment Instrument GL to the invoice to which you are Control assigned to the applying the Payment Instrument Payment Instrument Receivable Receivable

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Index

Index T terms maintenance 22

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