- 10.2. Customers & Receivables Report Category
10.2.2. Accounts Receivable Reconciliation - 10.2.1. Accounts Receivable
« Previous - 10.2.3. Cash Receipts Report
Next »
10.2.2. Accounts Receivable Reconciliation
Accounts Receivable Reconciliation
The Accounts Receivable Reconciliation report identifies invoices with a remaining balance and if after reviewing the report data, you may elect to write the AR balance off to a clearing account, a doubtful allowance account, or another account of your choosing. This report will help you identify invoices with balances that you may not be able to collect and allow you to write the balance off to clear the outstanding Accounts Receivable amount.
Click on the Accounts Receivable Reconciliation menu option and the AR Reconciliation report settings window will open.
ReportsARRecPrintOptions.JPG
| Accounts Receivable Reconciliation Report Settings | Description |
|---|---|
| What is the maximum outstanding A/R amount to reconcile | The default for this report is $250.00. The amount entered here is the maximum balance amount that the report will display results for. Any invoices with a balance over $250.00 will not be displayed. |
| Should the report be filtered to specific customers or vendors | You can filter the report for specific customers or vendors. Enter the first few characters of the customer of vendor name and any matches in your database will be displayed. Select the appropriate name from the list displayed. |
| Require at least 1 payment against invoice to reconcile | With this check box checked, the report will only display invoices where at least one payment has been received, yet a balance remains. If you un-check this option, your report will include all invoices that are below the maximum outstanding amount entered. |
| Add this report to your saved reports | This option allows you to save your report filter criteria so you do not have to enter it every time you run this report. Your report name will be saved in the My Saved Reports menu and can be run from there. |
ReportsARRecDetail.JPG
The report above was generated by entering $30.00 in the maximum outstanding A/R amount filter. As you can see, only invoices with an outstanding amount of $30.00 or less will be displayed.
If any invoices are found that meet the search criteria it will be displayed in the report window. Each invoice listed has a check box to the left on the invoice number and all invoices are selected for reconciliation by default. The invoice number displayed is a link to the actual invoice. You can click on the invoice number in the report to review the invoice Receipt Log details to help you decide if you are going to reconcile the outstanding AR balance.
After reviewing the invoices on the report, make sure to un-check any invoices that you do not want reconciled. Only the invoices that are checked will be reconciled.
You can select the appropriate account to write the balances off to by selecting the desired account in the Reconciliation Account selection box at the top of the report window. Review and verify that the correct Reconciliation Account has been selected in the Reconciliation Account selection box.
You can select the transaction posting date as well by setting the appropriate date in the Date selection box.
After you have made your selections, click on the Perform Reconciliation button to complete the process. Each selected invoice will be balanced to zero.
If you wish to reverse the reconciliation, click on the invoice on the Receivables tab of the proposal it was created on and then click on the Receipt Log tab. You will see the Auto Reconciled record which cleared the balance. You will see an icon to the left of the Auto Reconciliation record that has a red "x" on it. This icon allows you to reverse the reconciliation. Once the Auto Reconciliation has been removed the outstanding balance will be returned to the invoice balance.
ReportsARRecDelete.JPG
- 10.2.2. Accounts Receivable Reconciliation
10.2. Customers & Receivables Report Category - « Previous
10.2.1. Accounts Receivable - Next »
10.2.3. Cash Receipts Report