A/R Journal Entries GAAP. Add Invoice Line. Cancel Line from Invoice Maintenance. Cancel Balance via Write-Off Invoice Balances Routine
|
|
- Archibald Bates
- 8 years ago
- Views:
Transcription
1 CHAPTER 6 A/R Journal Entries This chapter will review the automated journal entries made by the module. The entries are separated into a GAAP and Non-GAAP section. GAAP Add Invoice Line An accrual entry is made to the account on the Service Id you enter. This will increase revenue, the A/R balance, and make the following entry in the GL. Accrued Dr Accrued Cr Cancel Line from Invoice Maintenance Will reverse the entries made when an invoice line is added. Cancel Balance via Write-Off Invoice Balances Routine The A/R balance on the revenue account for the invoice line s service id will be reduced. is not reduced. Parameter Maint Write-off Debit Accrued Dr Allowance for Uncollectable Accounts* A/R Journal Entries 6-1
2 GAAP *Could also be Bad Debt Expense. Entry is dependent on your accounting methods. Receive Invoice Payment The A/R balance on the revenue account for the invoice line s service id will be reduced. activity is increased. Bank on Payment Code Receive Overpayment will be receipted to the Accrual Basis Overpay Account stored in Parameter Maintenance. Bank on Payment Code Transfer Overpayment Entries are made to the overpayment revenue account and the revenue account for the service id on the invoice line where the payment is applied. Account - Refund Overpayment Receipts Batch Bank /AP Note: This entry may vary depending on the A/P method used to refund the money to the customer. i.e. Reimbursing and expending from a non-budget account A/R Journal Entries 6-2
3 Void Payments Regular Payment Receipts Cr Overpayment Transfer of Overpayment If a transfer overpayment transaction has occurred on an overpayment that is subsequently voided, the transfer overpayment transaction will also be voided. The following entry is made: Account - Overpayment Non-GAAP Add Invoice Line The A/R balance on the account of the Service Id you enter is increased. The following entry is made in the GL: Accrued Dr Accrued Cr A/R Journal Entries 6-3
4 Cancel Line from Invoice Maintenance Will reverse the entries made when an invoice line is added. Cancel Balance via Write-Off Invoice Balances Routine Will reverse the entries made when an invoice line is added. Receive Invoice Payment The A/R balance on the revenue account for the invoice line s service id will be reduced. and activity is increased. Bank on Payment Code Accrued Cr Accrued Dr Receive Overpayment will be receipted to the Accrual Basis Overpay Account stored in Parameter Maintenance. Bank on Payment Code Accrued Rev Cr s Accrued Rev Dr Transfer Overpayment Entries are made to the overpayment revenue account and the revenue account for the service id on the invoice line where the payment is applied. Account - Account - Accrue Cr A/R Journal Entries 6-4
5 Account - Accrue Dr Overpayment Rev - Accrue Dr Overpayment Rev - Accrue Cr Refund Overpayment Receipts Batch Bank * Overpayment Acct - Accrue Dr Overpayment Acct - Accrue Cr Note: This entry may vary depending on the A/P method used to refund the money to the customer. i.e. Reimbursing and expending from a non-budget account A/R Journal Entries 6-5
6 Void Payments Regular Payment Receipts Cr Accrue Dr Accrue Cr Overpayment Overpayment Rev Acct - Accrue Dr Overpayment Rev Acct - Accrue Cr Transfer of Overpayment If a transfer overpayment transaction has occurred on an overpayment that is subsequently voided, the transfer overpayment transaction will also be voided. The following entry is made: Account - Overpayment Account - Accrue Dr Account - Accrue Cr Overpayment - Accrue Cr Overpayment - Accrue Dr A/R Journal Entries 6-6
85.54 Receivables. 85.54.10 July 1, 2012. About receivables. 85.54.15 July 1, 2009. Taxes receivable 85.54.10
85.54.10 85.54 Receivables 85.54.10 July 1, 2012 85.54.10.a 85.54.10.b 85.54.10.c About receivables Receivables are defined as the amounts to be collected from private individuals, businesses, agencies,
More informationAccounting for Bad Debts. Objectives. Doubtful Accounts. Created 2009 By Michael Worthington Elizabeth City State University
Accounting for Bad Debts Created 2009 By Michael Worthington Elizabeth City State University Objectives Define uncollectible accounts and writing-off bad debts Prepare journal entries for the Direct Method
More informationJOURNAL ENTRIES IN CBS ACCOUNTS RECEIVABLE
JOURNAL ENTRIES IN CBS ACCOUNTS RECEIVABLE Default GL account numbers... 1 Accrual basis clients... 2 Tax Adjustment (STA)... 3 Cash basis clients... 4 Journalizing all activity through the account...
More informationHow To Write A Credit Card At A&M Texas A&I
Accounts Receivable Training Extension of Credit and Departmental Invoicing Presented By: Christina Holzheuser Bursar Agenda Extension of Credit Departmental Responsibilities Invoicing Payments Adjustments
More informationAccounts Payable. Accrual Basis Payables These queries give you AP voucher information based on the voucher accounting date.
Accounts Payable Accrual Basis Payables These queries give you AP voucher information based on the voucher accounting date. VT_AP_ACCR_EXPENDITURE_DST Accrued AP Expenses by BU Purpose Lists accounts payable
More informationREFERENCE MANUAL REVENUE CYCLE
9-1 INTRODUCTION Organizations obtain revenue from a wide range of sources and must maintain information regarding revenue for effective accounting and control. Every organization has the responsibility
More informationWrite Off, Bad Debt, and Bankruptcy
Write Off, Bad Debt, and Bankruptcy Agenda Write Off Configuration Process Bad Debt Configuration Process Bankruptcy Process Questions Write Off Process Configuration Necessary Account age Minimum balance
More informationUniversity of Missouri System Accounting Policies and Procedures
University of Missouri System Accounting Policies and Procedures Policy Number: APM 65.10 Policy Name: Allowance and Write-off for Uncollectible Student Loans General Policy and Procedure Overview: In
More informationAdjustment for Loss from Uncollectible Accounts (accrued expense)
Adjustment for Loss from Uncollectible Accounts (accrued expense) Objective Explain and illustrate the allowance method of accounting for uncollectible accounts receivable. Cite the advantages and disadvantages
More informationCOUNTY OF HENRICO ACCOUNTS RECEIVABLE POLICY
COUNTY OF HENRICO ACCOUNTS RECEIVABLE POLICY Issued by the Department of Finance Effective August 1, 2007 Table of Contents OVERVIEW AND DEFINITIONS... 3 RESPONSIBILITIES... 5 PROCESSES AND PROCEDURES...
More informationCash in bank checking account $22,500 U.S. treasury bills 5,000 Cash on hand 1,350 Undeposited customer checks 1,840 Total $30,690 Requirement 2
Chapter 7 Solutions EXERCISES Exercise 7 2 Cash and cash equivalents includes: Cash in bank checking account $22,500 U.S. treasury bills 5,000 Cash on hand 1,350 Undeposited customer checks 1,840 Total
More informationAP and AR Corrections Handout
AP and AR Corrections Handout 11.0 Reversal and Correction Entries 11.1 Overview The standard method to reverse and correct posted entries is to use Reverse Posted Document. This ensures that the audit
More informationASSOCIATED STUDENTS, INCORPORATED CALIFORNIA STATE UNIVERSITY, LONG BEACH DATE REVISED: 01/22/2014
Accounts Receivable BACKGROUND AND PURPOSE...1 POLICY STATEMENT...2 WHO SHOULD KNOW THIS POLICY...2 DEFINITIONS...2 STANDARDS AND PROCEDURES...2 1.0 REVENUE RECOGNITION...2 2.0 BILLING...3 2.1 Sales Reporting...3
More informationTHEME: ACCOUNTANTS RECEIVABLE
THEME: ACCOUNTANTS RECEIVABLE By John W. Day, MBA ACCOUNTING TERM: Accounts Receivable A current asset owed to the company by customers when they purchase goods and services. FEATURE ARTICLE: Working With
More informationCollaborative SIG: SLA Accounting in R12: Procure to Pay Process
Collaborative SIG: SLA Accounting in R12: Procure to Pay Process Mohan Iyer Principal Consultant FSCP Solutions Inc mohan@fscpsolutions.com September 22 nd, 2011 Agenda About the Presenter Procure to Pay
More informationChapter 3. Governmental Operating Statement Accounts; Budgetary Accounting
Chapter 3 Governmental Operating Statement Accounts; Budgetary Accounting 1 Definitions! General Fund (GF) " General Administration " Traditional Services! Special Revenue Fund (SRF) " Revenue used for
More informationChapter 8. Receivables
Chapter 8 Receivables Receivables mean amounts owed to the company by others. Accounts Receivable are receivables resulting from the company rendering services or selling products to the public. The company
More informationUniversity of Colorado Procurement Service Center Phone 303.315.2846 Fax 303.315.2795
University of Colorado Procurement Service Center Phone 303.315.2846 Fax 303.315.2795 AUTOMATED ACCRUALS WHAT IS AN ACCRUAL? The recording of expenditure in one fiscal year for a good or service received
More informationTechnical Note: Understanding the Transaction Type Codes in General Ledger Listing
Article # 1192 Technical Note: Understanding the Transaction Type Codes in General Ledger Listing Difficulty Level: Intermediate AccountMate User Version(s) Affected: AccountMate 7 for SQL and Express,
More informationHOWARD UNIVERSITY POLICY
HOWARD UNIVERSITY POLICY Policy Number: 300-001 Policy Title: ACCOUNTS PAYABLE: PAYMENTS TO VENDORS Responsible Officer: Chief Financial Officer Responsible Office: Office of the Chief Financial Officer
More informationBusiness Intelligence Accounts Payable Dashboard Job Aid
Business Intelligence Accounts Payable Dashboard Job Aid DASHBOARD AND DASHBOARD PAGES: DASHBOARD: Accounts Payable The data in the Accounts Payable dashboard is from the Cardinal Financial System Accounts
More information11.3 Bad Debt Write-off Procedures
Policy Statement Departments are responsible for analysing their outstanding accounts receivable and creating a provision for accounts deemed doubtful or uncollectible. Annually, departments will request
More informationChapter 07 - Accounts and Notes Receivable. Chapter Outline
Chapter 07 - Accounts and Receivable I. Accounts Receivable A receivable is an amount due from another party. Accounts Receivable are amounts due from customers for credit sales. A. Recognizing Accounts
More informationAccounting Entries. B. Record payments received against the notes receivable with a portion going to interest income.
SECTION 13: FUND ACCOUNTING Accounting Entries INTRODUCTION Accounting Entries provides general guidelines for recording accounting entries necessary to properly reflect fund balances. Agencies are responsible
More informationEpicor ERP Epicor ERP Accounts Payable Transaction Hierarchy
Epicor ERP Epicor ERP Accounts Payable Transaction Hierarchy 10 Disclaimer This document is for informational purposes only and is subject to change without notice. This document and its contents, including
More informationEpicor ERP Epicor ERP Accounts Receivable Transaction Hierarchy
Epicor ERP Epicor ERP Accounts Receivable Transaction Hierarchy 10 Disclaimer This document is for informational purposes only and is subject to change without notice. This document and its contents, including
More informationUnrecorded Payables/Receivables
Unrecorded Payables/Receivables Unrecorded Payables For BCR reporting Budget Fund substantially GAAP modified accrual with the following exceptions: Expenditures and Payables: Liabilities and expenditures
More informationV Accounting for Loan Principal Disbursements and Receipts
. V Accounting for Loan Principal Disbursements and Receipts Chapter V describes the accounting procedures for: Loan principal disbursements to other governmental or non-governmental entities Receipts
More informationChecklist - Monthly Close Process
Checklist - Monthly Close Process Introductuion: This document should be used as a general guide to creating a monthly financial close process checklist, however, it does not address all activities that
More informationAccounts Payable Version 6.1 Release Notes
Applied Solutions Inc. PO Box 1075 Gold Hill OR 97525 USA 541-855-9891 Voice support@app-sol.com Support Email Accounts Payable Version 6.1 Release Notes Highlights Multiple User Defined Payment types:
More informationARCHDICOESE OF SEATTLE
ARCHDICOESE OF SEATTLE SECTION C PARISH ACCOUNTING CONCEPTS INDEX I. ACCOUNTING DEFINITIONS 1C - 3C II. RECORD KEEPING JOURNALS 4C - 5C III. GENERAL LEDGER 5C IV. DOUBLE ENTRY ACCOUNTING V. RECEIVABLES,
More informationGeneral Ledger Module
PestPac Software General Ledger Module The General Ledger Module in PestPac allows certain transactions to be recorded and then be exported into a format that is compatible with your accounting software.
More informationStatewide Health Benefits Interface
Statewide Health Benefits Interface The Health Benefits Interface converts data from the Central Payroll System into NCAS posting transactions for all agencies that elect to participate in the automated
More information4. Guideline for debt management of pharmacy co-payments
Guideline [Optional heading here. Change font size to suit] Debt Management of Pharmacy Co-payments 1. Purpose Document Number # QH-GDL-026:2013 This Guideline provides recommendations regarding best practice
More informationChapter 8. Reporting and Analyzing Receivables
Chapter 8 Reporting and Analyzing Receivables Study Objective 1 - Identify the Different Types of Receivables The term receivables refers to amounts due from individuals and companies. Receivables are
More informationBusiness Intelligence Inquiry Dashboard Job Aid
Business Intelligence Inquiry Dashboard Job Aid DASHBOARD AND DASHBOARD PAGES: DASHBOARD: Inquiry DATA: The data in the Inquiry dashboard is from the Cardinal Financial System General Ledger, Accounts
More informationAccounts Receivable User s Guide
Accounts Receivable User s Guide Last Update: July 2015 Contents Accounts Receivable User s Guide... 1 ACCOUNTS RECEIVABLE INTRODUCTION... 2 How AMS works with Other Applications... 3 YEAR START-END AND
More informationC H A P T E R. Receivables. Financial Accounting 14e. human/istock/360/getty Images. Warren Reeve Duchac
human/istock/360/getty Images C H A P T E R 9 Receivables Financial Accounting 14e Warren Reeve Duchac Classification of Receivables The term receivables includes all money claims against other entities,
More informationUser ID: LAUSD Password: training 1. Accounts Receivable Course Exercise Guide May 2013
User ID: LAUSD Password: training 1 Accounts Receivable Course Exercise Guide May 2013 TABLE OF CONTENTS EXERCISE 1 DISPLAY AN AR CUSTOMER... 4 EXERCISE 2 CREATE AN AR CUSTOMER... 5 EXERCISE 3 CHANGE AN
More informationEnterpriseOne Xe Property Management PeopleBook
EnterpriseOne Xe Property Management PeopleBook September 2000 J.D. Edwards World Source Company 7601 Technology Way Denver, CO 80237 Portions of this document were reproduced from material prepared by
More informationFinancial Best Practices and Handy Tools Laura Tidquist Technical Support Manager Association Technology Solutions
Financial Best Practices and Handy Tools Laura Tidquist Technical Support Manager Association Technology Solutions What will we cover? General best practices for entry/edit of cash transactions Credit/debit
More informationCHAPTER 7 ACCOUNTING FOR RECEIVABLES
CHAPTER 7 ACCOUNTING FOR RECEIVABLES Key Terms and Concepts to Know Accounts Receivable: Result from sales on account (credit sales), not cash sales. May also result from credit card sales if there is
More informationReference Document Month-End Closing
Overview Each individual company according to their own business practices establishes month end closing procedures. Typically, a company will create a monthly accounting calendar, which sets the dates
More informationChapter 8: account receivable
Chapter 8: account receivable Three accounting issues associated with accounts receivable are: 1. Recognizing accounts receivable 2. Valuing accounts receivable 3. Disposing of accounts receivable Recognizing
More informationAccounts Receivable Toolkit
Accounts Receivable Toolkit TABLE OF CONTENTS OBJECTIVE... 1 BACKGROUND... 1 MANAGEMENT AND INTERNAL AUDIT RESPONSIBILITIES... 1 PREVENTION... 2 COLLECTIONS... 3 Best Practices... 3 EMPLOYEE ARs... 6 Managing
More informationDynamics GP 50 Tips in 50 Minutes
Tip #1 Speed Up GL Distribution Entry Account Alias Financials Assign an Alias to Accounts. In any GL Distribution Entry window, click the arrow next to the Account Lookup button or type Ctrl+Q. 1 Enter
More informationCHAPTER 7 General Journal Entries
CHAPTER 7 Journal Entries Table of Contents Section - Page INTRODUCTION 1-1 GENERAL FUND JOURNAL ENTRIES 2-1 Opening Entry...2-1 Budget Entries...2-2 Budget Entries Modifications...2-2 Revenues Property
More informationManaging Company Credit Cards
Managing Company Credit Cards Contents About Managing Company Credit Cards Managing Credit Cards as Vendors Managing Credit Cards as Short Term Liabilities Paying by General Check Without Posting the Statement
More informationNorming Asset Management. To make asset management easy and automatic with Sage Accpac ERP
Norming Asset Management To make asset management easy and automatic with Sage Accpac ERP Modules Asset Accounting Asset Maintenance Asset Leasing Asset Tracking Highlights Integrates with Sage Accpac
More informationES ACCOUNTING QUICK START GUIDE
QUICK START GUIDE Version 5.0.7 Malaysia GST Ready Page 1 CONTENTS Chapter 1 PAGE Overview 1.1 Introduction 1.2 File Module 1.3 General Ledger Module 1.4 Customer Module 1.5 Supplier Module 1.6 Malaysia
More informationKUALI FINANCIAL SYSTEM (KFS) ACCOUNTS RECEIVABLE TRAINING
KUALI FINANCIAL SYSTEM (KFS) ACCOUNTS RECEIVABLE TRAINING WELCOME! SEPTEMBER 2015 JIM HEWLETT ANALYST High-Level Overview What is Accounts Receivable (AR)? High-Level Overview of AR Process, Authorization,
More informationAmicus Small Firm Accounting: Frequently Asked Questions
Amicus Small Firm Accounting: Frequently Asked Questions Questions Administration... 3 1 How do I add another user account? 3 2 How are passwords set up and how are they used? 3 3 What does "Reset User
More informationTable of Contents. OTC AP Revenue Refund Process
Table of Contents INTRODUCTION:... 2 PART 1 Submitting a Refund Request in Accounts Payable... 3 STEP 1: Create a Voucher in Accounts Payable... 3 STEP 2: Single Payment Voucher Entry (Skip This Step for
More informationFinance process. Taking advantage of R6 Accounts Receivable and Collection Management to maximize revenue and cash flow. R6 Functional Overview
R6 Functional Overview products customers orders billing finance Finance process Taking advantage of R6 Accounts Receivable and Collection Management to maximize revenue and cash flow Table of Contents
More informationNEW JERSEY COMPREHENSIVE FINANCIAL SYSTEM INSTRUCTIONAL MANUAL INTRODUCTION TO GOVERNMENTAL ACCOUNTING
NEW JERSEY COMPREHENSIVE FINANCIAL SYSTEM INSTRUCTIONAL MANUAL INTRODUCTION TO GOVERNMENTAL ACCOUNTING OUTLINE INTRODUCTION TO GOVERNMENTAL ACCOUNTING Topic I: Governmental Accounting Environment A. Introduction
More informationACCOUNTING FOR EXPIRED AND CANCELLED AUTHORITY FOR OTHER THAN SPECIAL AND TRUST FUNDS
BACKGROUND In November 1990, Congress passed, and the President signed, Public Law 101-510 1, which superseded prior reporting requirements. This law requires that agencies keep any remaining budget authority
More informationFUND ACCOUNTING TRAINING
FUND ACCOUNTING TRAINING Module 3 Loan and Agency Funds The University of Texas System OBJECTIVES Define Loan Funds and discuss accounting principles and issues unique to Loan Funds Define Agency Funds
More informationVIRGINIA WESTERN COMMUNITY COLLEGE II - FINANCIAL & ADMINISTRATIVE SERVICES POLICIES
VIRGINIA WESTERN COMMUNITY COLLEGE II - FINANCIAL & ADMINISTRATIVE SERVICES POLICIES!1-1 Cash Management Policy Number:!1-1 Effective Date: January 21, 2013 Last Reviewed: January 21, 2013 Responsible
More informationAP314: Payment Processing. Instructor Led Training
AP314: Payment Processing Instructor Led Training Lesson 1: Understanding Payment Processing Introduction Welcome Welcome to Cardinal Training! This training provides employees with the skills and information
More informationNow What Do I Do? How to Fix Financial Fiascos. Common Receipts Questions. Page 1. Presented by Rhonda Regguinti
Now What Do I Do? How to Fix Financial Fiascos Presented by Rhonda Regguinti Common Receipts Questions Can I apply an unapplied amount from one family member to another? Answer: Yes you can if the family
More informationRepairing Your Accounting System
Repairing Your Accounting System Who is this paper for? This paper is for companies that have been using DBA Next-Generation for some time, but have struggled up to now with getting the accounting system
More informationReconciling Accounts Payable in WESPaC. Presented by Sean Schaeffer
Reconciling Accounts Payable in WESPaC Presented by Sean Schaeffer Agenda Two Points of Comparison Factors of AP Balance Solution for Reconciling AP Two Points of Comparison What is being reconciled?
More informationIntegration with BS&A Financial Management Applications
Integration with BS&A Financial Management Applications Questions? From your BS&A program, go to Help>Contact Customer Support and select Request Support Phone Call or Email Support. Or, you may call us
More informationFinancial Accounting. John J. Wild. Sixth Edition. McGraw-Hill/Irwin. Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
Financial Accounting John J. Wild Sixth Edition McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 07 Reporting and Analyzing Receivables Conceptual Learning
More informationCustomer Billing using Oracle Projects with Oracle Receivables
Customer Billing using Oracle Projects with Oracle Receivables G. R. Kinra, C.P.A. Electronic Data Systems Corporation Synopsis This paper addresses Customer Billing for contract projects, using Oracle
More informationSolar Eclipse Accounts Receivable. Release 8.7.2
Solar Eclipse Accounts Receivable Release 8.7.2 Legal Notices 2011 Epicor Software Corporation. All rights reserved. Unauthorized reproduction is a violation of applicable laws. Epicor and the Epicor logo
More informationCHAPTER 9 ACCOUNTING FOR RECEIVABLES
CHAPTER 9 ACCOUNTING FOR RECEIVABLES LEARNING OBJECTIVES 1. IDENTIFY THE DIFFERENT TYPES OF RECEIVABLES. 2. EXPLAIN HOW COMPANIES RECOGNIZE ACCOUNTS RECEIVABLE. 3. DISTINGUISH BETWEEN THE METHODS AND BASES
More informationStep 3. Clear Withdrawals, Data Entry Errors, and Bank Errors
Reconciling Bank Statements If this is the first time you have reconciled a bank statement for this company, you must prepare your bank accounts. See Chapter 4, Setting Up Bank Services, for the procedure.
More informationTable of Contents. How to Process Expense Accruals in Umoja. Job Aid. Overview... 2. Objectives... 2. Enterprise Roles... 2
Table of Contents Overview... 2 Objectives... 2 Enterprise Roles... 2 Chapter 1 Process Accrual entry... 2 Chapter 3 Batch program for the Reversal of the Accrual Documents... 13 Chapter 4 How to Reverse
More informationCBS Accounts Payable Overview
CBS Accounts Payable Overview The Big Picture ESPS GTA AP Std Interface Travel Manager ORSI/ C-STARS Interface* VMS/CCR Interface* Commerce Business Systems NFC Employee Data Payment Management Accounts
More informationPrepared by General Accounting & Loan Collection Office. Replaces Administrative Procedure A8.651 dated July 1982. A8.651
Prepared by General Accounting & Loan Collection Office. Replaces Administrative Procedure A8.651 dated July 1982. A8.651 A8.600 Accounting April 2002 P 1 of 12 A8.651 Accounts Receivable 1. Purpose To
More informationCHAPTER 7 General Journal Entries
CHAPTER 7 Journal Entries Table of Contents Section Page INTRODUCTION 1 1 GENERAL FUND JOURNAL ENTRIES 2 1 Opening Entry... 1 Budget Entries... 2 Budget Entries Modifications... 2 Revenues Property Tax...
More informationTitle/task or Concept: Accounting System Settings Miscellaneous Settings
Title/task or Concept: ing System Settings Miscellaneous Settings Module: ing Audience: In order to perform this task the student should be have a basic knowledge in ing as well as Parts, Service and Unit
More informationAudit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions
Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions Chapter 14 2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder 14-1 Learning Objective
More informationChapter 9. Accounting for Receivables. McGraw-Hill/Irwin
Chapter 9 Accounting for Receivables Conceptual Learning Objectives C1: Describe accounts receivable and how they occur and are recorded C2: Describe a note receivable and the computation of its maturity
More informationUser Documentation. Accounts Payable. June 2008 www.randrinc.com
User Documentation Accounts Payable June 2008 www.randrinc.com FP_UserManual_AccountsPayable.doc Page 1 Table of Contents: Page: 1. Overview 3 2. Enter Vendor Invoice 4 3. Pay AP, Change, Display 6 4.
More informationWelcome to the internal reconciliation topic. 4-2-1
Welcome to the internal reconciliation topic. 4-2-1 In this topic, we discuss how to utilize the process of internal reconciliation, both system and user reconciliations, in G/L accounts and business partners.
More informationAccounts Receivable User Procedures
User Procedures Accounts Receivable User Procedures Table of Contents Chapter 4 User Procedures... 3 4.0 Transaction Screens...3 4.1 Receivable List Screen (AR000)...3 4.1.1 Receivable Radio Button...3
More informationAccounts Receivable. Chapter
Chapter 7 Accounts Receivable The Accounts Receivable module displays information about individual outstanding income sources. Use this screen to verify that invoice receipts, cash receipts, and other
More informationBackOffice 7.3 Bet a Release Notes BackOffice 7.3 Release Notes Accounts Receivable New Features Open Issues
ebackoffice 7.3 Beta Release Release Notes Notes Accounts Receivable New Features 2 Credit Memo 2 AR Netting 2 Customer 3 Dunning Letters 3 Non-AR Cash Receipts 4 Settlement 4 Terms 5 Write-off Receivable
More informationThe Validator GP. User Guide. Reporting-Central
The Validator GP User Guide Reporting-Central This document contains proprietary information which is protected by copyright. All rights are reserved. 1 T h e V a l i d a t o r G P TABLE OF CONTENTS 1.
More information11.3 Bad Debts and Write Offs
Policy Statement Departments are responsible for analysing their outstanding accounts receivable and recording bad debts expense for accounts deemed doubtful or uncollectible. Annually, departments will
More informationSarbanes-Oxley Compliance A Checklist for Evaluating Internal Controls
Sarbanes-Oxley Compliance A Checklist for Evaluating Internal Controls Companies today are immersed in audits of their internal controls and financial processes in an effort to comply with Section 404
More informationPA STATE SYSTEM OF HIGHER EDUCATION Shared Administrative System TM Travel Management Process for Prepaid Expenses
What is considered a Prepaid Expense? 1. Any payment made directly to a third party prior to the actual trip 2. Any reimbursement to the traveler prior to the actual trip Some expense types that might
More informationFINANCIAL RECONCILIATION CONRAD HENLEY-CALVERT, MILLPOST TECHNOLOGIES
TRAIN + NETWORK + LEARN FINANCIAL RECONCILIATION CONRAD HENLEY-CALVERT, MILLPOST TECHNOLOGIES TRAIN + NETWORK+ LEARN AGENDA FINANCIAL RECONCILIATION & PROBLEM TRANSACTIONS What is reconciliation? Definition
More informationMonth-end Close in a Non-profit Organization
Month-end Close in a Non-profit Organization Cindy Cline Cline Consulting and Training Solutions, LLC Agenda Introductions How the Applications Work Together Month-end Close Processes Planning Your Month-end
More informationBUS512M. Module 5. Cash and Accounts Receivable BE6-1, E6-4, E6-5, P6-2
BUS512M Module 5 Cash and Accounts Receivable BE6-1, E6-4, E6-5, P6-2 Current Asset Classification A current asset is defined as any asset that is intended to be converted into cash within one year or
More informationAPPENDIX B. ACCOUNTING FOR REVENUE
APPENDIX B. ACCOUNTING FOR REVENUE B.1 ACCOUNTING TREATMENT EXCHANGE REVENUES. Revenues earned are amounts earned and collected for property sold or services furnished either to the public or another federal
More informationWalk Through Balance Sheet. Chapter 7. Learning Objectives. Learning Objectives 1, 2. Learning Objectives 1, 2. Cash and Receivables.
Chapter 7 Walk Through Balance Sheet Cash and Receivables Chapters 1 6 Accounting cycle: JE, AJE, financial stmts Conceptual framework, GAAP, revenue Time value of money concepts Remaining chapters (ACTG
More informationACS-1803 Introduction to Information Systems. Functional Area Systems. Lecture 4
ACS-1803 Introduction to Information Systems Instructor: David Tenjo Functional Area Systems Lecture 4 1 Overview Overview of Functional Areas in the organization Functional Area: Accounting Accounting
More informationAccounting for Receivables
Introduction to Accounting 2 Modul 2 Accounting for Receivables After studying this chapter, you should be able to: 1. Identify the different types of receivables. 2. Explain how accounts receivable are
More informationINTRO120: Billing and Accounts Receivable Overview. Web Based Training
INTRO120: Billing and Accounts Receivable Overview Web Based Training Revised 2/21/2013 Welcome Welcome to Cardinal Training! This training provides employees with the skills and information necessary
More informationExpense Section No. 700
Expense Section No. 700 Page No. GENERAL RULES FOR RECORDING EXPENSES 1 OPERATING EXPENSES (GL Control Account) 1 Approval Of 1 Entries in the Journal and Cash Record 2 Postings in the General Ledger 2
More informationTheFinancialEdge. Subsidiary Ledger Reconciliation Guide
TheFinancialEdge Subsidiary Ledger Reconciliation Guide 101811 2011 Blackbaud, Inc. This publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic,
More informationACCOUNTING RECORDS AND SOURCE DOCUMENTATION
ACCOUNTING RECORDS AND SOURCE DOCUMENTATION May 1994 Introduction Criteria for Accounting Documents and Records Accounting Procedures Manual Chart of Accounts Nine Principles Governing Accounting Records
More informationJD Edwards EnterpriseOne Order Fulfillment
JD Edwards EnterpriseOne Order Fulfillment Operations Field Service Support Receive Product Return Product Receive and Pay Inquire About Account Contract Administrator Manage Contract Process Claims for
More informationWelcome to the handling payments topic. 2-1
Welcome to the handling payments topic. 2-1 After completing this topic, you will be able to: List the steps of the payment process and perform them in SAP Business One including: Incoming Payments, Outgoing
More informationWave 2 UAT Accounts Receivable Business Process Overview. April 2015
Wave 2 UAT Accounts Receivable Business Process Overview Overview Welcome & Introductions Susan Salisbury Module Overview Susan Salisbury BP Overview #1: AR1 Setup and Maintain Customers Susan Salisbury,
More informationThe General Fund and Special Revenue Funds. Chapter 3
The General Fund and Special Revenue Funds Chapter 3 Learning Objectives Discuss similarities & differences between GF and SRFs Explain MFBA used for these funds Understand and prepare budgetary entries
More informationMarist College ACCT 203 Financial Accounting Quiz Prep Chapter 3
Marist College ACCT 203 Financial Accounting Quiz Prep Chapter 3 The Accounting Cycle: Capturing Economic Events Peter Rivera August 2011 Disclaimer This Quiz Prep is provided as an outline of the key
More information