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Overview
The cash receipts program is created to better support the high volume of AR invoices being paid with a single check, as well as support early payment discounts. After specifying a batch number for the transactions in the Company section of the screen, the Cash Receipts section enables the operator to enter the customer and amount of the cash receipt and other relevant information related to the cash receipt. Once the Cash Receipts section is complete, the Invoices section is used to select the invoices being paid. Invoices are listed in a tabular format and the user is able to identify those that need to be paid with the cash receipt that is being entered into the system. The last step is to distribute the receipt to the correct GL accounts.
Pgm: ARCHQFM2 – Cash Receipts; standard Treeview path: Material Sales > Customer Billing > AR Payment Receipts > Enter Receipts
Company
Enter the company code.
Batch
All cash receipts are grouped in a batch. Batch selection occurs in the Company section. The [Create Batch] button is available here to facilitate batch creation.
Cash Receipts
Customer
Enter the customer code.
Deposit Date
Enter the date that this payment will be deposited to the bank account. This date may be different from the date of the payment itself which is entered in the Check Date field. The system date will default into this field. This is a required field.
Check #
Enter the check number.
Check Date
This is usually used as the date of entry but it can be used to record the date of the check. The system will default the system date into this field. This date is not used as the posting date for GL credits and debits.
Amount
Enter the total amount of the payment.
Remaining
A display field “Remaining Amount” shows the payment amount that has not been distributed to invoices yet. This is a display-only field that will automatically adjust as invoices are selected for payment.
Account
Enter the GL company and department/account number representing the bank account to which the payment will be deposited.
[GL Distribution] – Button
This button is used to distribute the cash receipt among the relevant GL accounts. For normal payments with no discounts or write-offs, the system will default a debit to the cash account specified in the Cash Receipts section for the full amount of the payment. The system will also default a credit to the Accounts Receivable account for the full amount of the credit.
If there are special considerations, the system will default the appropriate debits and credits for these accounts. On a standard receipt there is normally no reason to adjust the system generated distribution. The two accounts affected will be cash and accounts receivable. If there is a necessity to change or add to the distribution this section works the same as all other distribution optional in the system.
[Generate Payment List] – Button
The invoices that are being paid can be selected by clicking the [Generate Payment List] button. A pop-up will ask for a date range of the invoices due date in order to generate a list of invoices to be paid. To select invoices from the list, check the boxes of the invoices to be removed and click the [Remove Selected Invoices] button. The remaining invoices will be the ones to which the payment applies.
Invoices
A list of generated invoices is displayed in the Invoices section. This section shows all open invoices in the specified date range in the Material Sales and Accounts Receivable modules. The Discount Taken field is available and may be overwritten.
The Pay Amount field in the Invoices section for the invoice(s) being paid is distributed to the invoices up to the total in the Amount field starting from the first to the last invoice. Edit the Pay Amount field as necessary.
The available discounts will be automatically taken if the discount date is after the payment date. The user will be able to add or remove invoices and make partial payments. The Discount Taken field will be available to be overwritten.
[Write-Off] – Button
Enter the write-off of the payment. A write-off would occur when the payment is less than the full amount outstanding because of a dispute or an error. In this case the outstanding amount will be cleared even though the check amount is less than the outstanding amount. The GL distribution will debit the write-off account associated with the write-off type to reconcile the difference.
Write-offs must be within the limits set on the AR Control File.
Write-offs are done by using the [Write-Off] button displayed at the bottom of the screen. Automatic write-offs are done if the AR Control File specifies an automatic write-off amount and code.
Charge Back Code, Write Off Description, Comments
Enter the charge back code associated with the write-off being applied against this invoice, and a comment/reason if required.
Amount
Enter the write-off amount being applied against this invoice. The total write-off amount cannot exceed the difference between the payment amount and the outstanding amount.
Write-offs allow for multiple types of write-offs against a single invoice. If more than one is required continue to enter until the total write-off amount is equal to the payment amount less than the outstanding amount.
Press the [Accept] button to save the entries, validate the total write-off amount and return to the Cash Receipts Entry screen.
[Remove Selected Invoices] – Button
The [Generate Payment List] button in the middle block, will populate all the receivable MS related invoices for the customer with the user specified date range. Users may select one or more of these invoices and remove from the Enter Receipt screen by clicking the [Remove Selected Invoices] button.
Cash Receipts Edit Listing
The Print Edit List should be printed and reviewed before posting the cash receipt batch. The Print Edit List screen allows the users to print the report for the complete batch or a range of checks within the batch limited by any or all of the following: customer range, check number range, check date range.
This report can also be reprinted for post listing check batches if required.
Cash Receipts Posting
Posting a cash receipt batch is the same as posting any other batch in the Accounts Receivable module. Please refer to Posting a Batch.