A/R Journal Entries GAAP. Add Invoice Line. Cancel Line from Invoice Maintenance. Cancel Balance via Write-Off Invoice Balances Routine

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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

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