The information needed to enter AR invoices or credit memos is listed in the AR voucher spreadsheet generated in the AR Voucher Transfer screen. Create an invoice for each voucher on the spreadsheet as follows:
1. Create the customer record if needed
If the voucher Customer does not exist in your accounting system, create a customer record. The only information needed for AR processing is the customer name, billing address, terms code, phone, fax, Email, and AR contact person. Sales related information such as shipping addresses is not relevant to AR processing and is maintained in the DBA customer record.
2. Enter the invoice header information
In the invoice entry screen, select the voucher Customer (or the X-Ref Code if your accounting system uses a customer code). Enter the voucher Invoice No as the invoice number. Verify that the default due date and terms code match the voucher Due Date and Terms.
3. Enter the special line item (AR Invoice Line Item ID)
In line item entry, select the voucher Line Item ID as the item. Enter a quantity of ‘1’. Enter the voucher Total Amt as the price. Make sure the tax amount is zero.
Line Item Setup
The voucher Line Item ID is specified as the AR Invoice Line Item ID in the Financial Transfer Defaults screen and is set up in advance as an item in your accounting system with a description of AR Voucher Transfer. This item must be a non-inventory item and flagged as non-taxable or assigned a non-taxable tax code. Designate the AR Invoice Transfer account as the Sales account. If a Cost of Goods Sold account is required, designate the AR Voucher Transfers account as well.
Foreign Currency
If the voucher is in a foreign currency, enter the voucher FX Total as the foreign price. Enter the voucher Exchange Rate if your accounting system’s exchange rate is a multiplier or enter the voucher Inv Exch Rate if your exchange rate is a divisor.
4. Post the invoice and continue
After you finish entering the single line item, post the invoice and move on to the next voucher on the spreadsheet. Repeat this process until all vouchers have been entered as AR invoices.
5. Check your entries upon completion
After each set of AR invoices is created, check your entries by running an invoice listing and comparing the total amounts for the AR invoices with the total amounts on the voucher spreadsheet.
AR Credit Memo Entry
AR credit memo entry is the same as AR invoice entry except that in some accounting systems it is done in a separate credit memo entry screen. In the AR Voucher Transfer screen you have the option of blending invoices and credit memos into the same voucher list or you can display and output them on separate lists.
