Entering Cash Receipts

Transcription

1 1 Customers: Using CounterPoint Entering Cash Receipts Overview Cash receipts are entered when payments are received on customer accounts. This document explains how to enter cash receipts using Customers / Cash receipts, and how to print the cash receipts worksheet. You can also enter customer payments using Alt + P (pay-on-account) in Point of Sale ticket entry. (See Accepting payments on customer accounts in Additional Ticket Entry Options for more information.) Entering cash receipts Select Customers / Cash receipts / Enter. If you specified in Setup / Customers / Control to use transaction batches, the current user s ID displays as the Batch user ID at the top of the screen. 1. Customer # Enter the customer number for this cash receipt. Press F1 to scan through the existing unposted cash receipts.

2 Customers: Using CounterPoint - Entering Cash Receipts 2 If you specified in Setup / Customers / Control to use transaction batches, press F2 to change the batch user ID. (See the Using cash receipt batches section on page 9 for more information.) When an existing cash receipt is displayed, press F3 to delete this cash receipt. NOTE: You can enter non-ar cash receipts for Cash and Misc cash customers. These transactions are similar to the pay-in transactions that can be entered in Point of Sale. No open items are affected or created by cash receipts for Cash or Misc cash customers. When the transactions are posted, distributions are made to the account specified on this screen. If you want to be able to use cash receipts processing for non-ar receipts that are not necessarily associated with a particular customer, or for receipts that are from A/R charge customers but that are not AR-related, you should define one or more Cash customers to use only for entering this type of receipt. Balance This field displays this customer s current balance, and cannot be changed. Terms: This field displays this customer s terms code from the Customer file, and cannot be changed. 2. Pay code After the first cash receipt has been entered in this session, the last pay code entered displays as the default. Enter the pay code that matches the type of payment. Press: F1 To scan through the existing unposted cash receipts, beginning with the customer entered in field 1 F2 To write off open items (See the Writing off entire documents section on page 10 for more information.) F3 To apply credits (available only for open item customers). (See the Applying credits section on page 11 for more information.) You may enter any Cash and Check pay codes that are defined for this location s store. This location s store is specified in Setup / Point of Sale / Control, and pay codes are defined in Setup / Point of Sale / Stores / Stores. NOTE: To enter any payment type other than cash or check, you should enter a pay-onaccount through Point of Sale ticket entry rather than a cash receipt. (See Accepting payments on customer accounts in Additional Ticket Entry Options for more information.) Check # If you pressed F2 to write off open items, this field defaults to WRITE-OFF and cannot be changed. If you pressed F3 to apply credits, this field defaults to CM APPLIED and cannot be changed. For Cash pay codes, this field defaults to CASH and cannot be changed. Enter the check number.

3 Customers: Using CounterPoint - Entering Cash Receipts 3 3. Date For the first cash receipt entered in this session, the current system date displays as the default. After the first cash receipt has been entered in this session, the last date entered displays as the default. Enter the date of this payment. Matching transaction on file. Edit existing transaction? This warning message displays if there is an existing unposted cash receipt with the same batch, customer, pay code, check number, and date. Specify whether to edit an existing cash receipt or enter a duplicate cash receiptby selecting Yes or No. 4. Amt recvd If you pressed F2 at Pay code to write off open items, or F3 to apply credits, this field defaults to.00 and cannot be changed. Enter the amount of this payment. NOTE: The amount in this field must be positive. If you specified a pay code associated with a foreign currency (per Setup / Point of Sale / Stores / Multi-currency), press F2 to enter the foreign currency amount. (See the Entering foreign currency amounts section on page 9 for more information.) If this cash receipt is a check, and the check number entered in field 2 matches the check number for a cash receipt already posted for this customer, press F1 to void the previously posted cash receipt. (See the Voiding a previously posted check section on page 9 for more information.) If the check number and date entered in fields 2 and 3 match a cash receipt already posted for this customer, press F3 to reapply the cash receipt. (See the Reapplying cash receipts section on page 11 for more information.) 5. Reference Enter any reference information for this payment.

4 Customers: Using CounterPoint - Entering Cash Receipts 4 Balance forward customers 6. Discount If you pressed F1 at Amt recvd to write off open items, this field defaults to.00 and cannot be changed. If this payment includes any discounts, enter the discount amount, press: Enter For.00 F1 To skip this field NOTE: For balance forward customers, you cannot enter a discount amount that exceeds the customer s net balance (the difference between the customer s account balance and the cash receipt amount entered). NOTE: CounterPoint calculates discounts on the full transaction amount for open items. Discounts are not calculated on other amounts. Available discount This field displays the current available valid discount amount based on the customer s terms code, and cannot be changed. 7. Write-off Enter any write-off amount, up to the maximum write-off specified in Setup / Customers / Control. Press F2 to change the write-off account to use for distributions (if you want to use an account other than the default account specified in Setup / Customers / Control). If the remaining document balance (after considering this cash receipt) is less than or equal to the maximum write-off amount specified in Setup / Customers / Control, press F1 to default to the remaining document balance.

5 Customers: Using CounterPoint - Entering Cash Receipts 5 You can enter positive or negative write-off amounts in order to adjust the document s balance as needed to ensure that it is fully paid. Open item customers To be applied: Initially, this field displays the amount received. As payment is applied to specific open items (field 6), the amount in this field is updated to reflect the remaining amount to be applied. This amount must be.00 in order to complete the cash receipt transaction. 6. Apply-to Enter the open item document number to which the payment should be applied. Press : F1 F2 F3 F4 F5 To scan through the existing documents that have an unpaid balance for this customer Before any apply-to documents have been entered, to automatically apply this cash receipt (See the Automatically applying cash receipts from open item customers section on page 10 for more information.) To delete the highlighted apply-to To insert a blank apply-to above the highlighted apply-to To include a credit as part of the cash receipt application (See the Applying credits section on page 11 for more information.) If this payment shouldn t be applied to any specific open item, leave <blank> for * Open *. For most documents, you can enter a short ticket number of 1-6 digits (e.g., 153), and the software will look for the appropriate long document number (e.g., ) using the

6 Customers: Using CounterPoint - Entering Cash Receipts 6 store-# prefix for This store (specified in Setup / Point of Sale / Control), or the equivalent 6- digit document. You can enter up to 500 apply-to documents for a single cash receipt in order to fully apply the receipt. Receipts may be applied to ageable documents dated later than the receipt date. You may specify a negative invoice for an apply-to and apply a negative amount to that document. WARNING: Open item document balances are updated when the customer is aged, or when cash receipts or Point of Sale pay-on-account tickets are posted. If the last aging for a customer was performed with an as-of date that is earlier than any payments or credits for a particular apply-to, then the apply-to document s balance may be incorrect. You can correct the document balance by posting any outstanding cash receipt transactions or Point of Sale pay-on-account tickets. When you enter an open item document number as an apply-to, a window appears displaying information about that open item: Right open item? Specify whether to use this apply-to document by selecting Yes or No. Press F2 to reapply other documents to this apply-to document. If you press F2, the displayed apply-to becomes the target, and you are allowed to point and shoot to apply multiple documents to that target. (See Reapplying open items in Working with Open Items for more information.) Example of reapplying open credits while entering a cash receipt: See Examples of applying open credits with cash receipts on page 12 for more information. Amount applied If you pressed F2 at Pay code to write off open items, this field defaults to.00 and cannot be changed. If you pressed F3 at Pay code to apply credits, this field defaults to the document balance less any valid discount amount, or to the amount to be applied, whichever is less. Otherwise, this field defaults to the document balance less any valid discount, or to the amount remaining to be applied, whichever is lower. Enter the amount of the payment to apply to this document. Press F2 to use the document balance without any discount. If you press F2, the balance of this document automatically displays as the Amount applied, and the cursor moves to the next apply-to line. Valid discounts are ignored. To write off an entire document, enter.00 for Amount applied, answer Yes to Is this OK?, and accept the default Write-off amount. This write-off amount cannot exceed the maximum write-off amount specified in Setup / Customers / Control.

7 Customers: Using CounterPoint - Entering Cash Receipts 7 Amount applied is zero. Is this OK? This question appears if you enter.00 for Amount applied. Specify whether to allow an applied amount of zero by selecting Yes or No. Discount applied If you pressed F2 at Pay code to write off open items, this field defaults to.00 and cannot be changed. Otherwise, if the entire document balance is not entered as the apply-to amount, this field defaults to the highest amount of the valid discount possible to fully pay the document. Enter the discount amount. Leave <blank> for.00. Press F1 for.00, to ignore the discount. Discounts are not allowed for * Open * apply-to s. NOTE: CounterPoint calculates discounts on the full transaction amount for open items. Discounts are not calculated on other amounts. Write-off amount This field is available only if the sum of Amount applied and Discount applied is less than the document balance, or if you are writing off entire open items. Otherwise, it defaults to.00 and cannot be changed. Enter the write-off amount. Leave <blank> for.00. Press F2 to change the write-off account to use for distributions (if you want to use an account other than the default account specified in Setup / Customers / Control). If the remaining document balance (after considering this cash receipt) is less than or equal to the maximum write-off amount specified in Setup / Customers / Control, press F1 to default to the remaining document balance. Write-offs are not allowed for * Open * apply-to s. You can enter positive or negative write-off amounts in order to adjust the document s balance as needed to ensure that it is fully paid.

8 Customers: Using CounterPoint - Entering Cash Receipts 8 Non-AR cash receipts 6. Account # Enter the account number to use for distribution of this cash receipt. Press F1 to enter multiple account numbers. (See the Entering multiple account numbers section below for more information.) Press F2 to change pay code distributions. Entering multiple account numbers Press F1 at Account #, to enter multiple account numbers and distribution amounts. Account # Enter the write-off amount. When an existing account number is highlighted, press: F1 F3 To insert an account number above the currently highlighted account number To delete the currently highlighted account number and distribution amount

9 Customers: Using CounterPoint - Entering Cash Receipts 9 Dist-amt Enter the distribution amount. Press F2 to enter the remaining amount. Using cash receipt batches If you specified in Setup / Customers / Control to use transaction batches, each cash receipt has an associated batch user ID. WARNING: Cash receipt batches are not intended as a security feature. They are used primarily as a method of grouping cash receipts according to who enters them. When entering cash receipts, you may access only those receipts with the same batch user ID that you are currently using. You can, however, select any other batch user ID to access other cash receipts. Batches can also be used as selection criteria when printing the Cash Receipts Edit List or when posting cash receipts. Entering foreign currency amounts If you specify a pay code for this receipt that is associated with a foreign currency (per Setup / Point of Sale / Stores / Multi-currency), you can press F2 at Amt recvd to enter the amount received in the foreign currency rather than in the home currency. A window similar to this appears when you press F2: Enter the amount received in the foreign currency. Press F2 to change the exchange rate. The amount you enter here is converted to the home currency according to the displayed exchange rate. When you return to the cash receipt screen, the home currency amount is used for Amt recvd. Exchange rate This field displays the current exchange rate for this currency from Setup / Point of Sale / Stores / Multi-currency. This rate may be changed only of you press F2 at Amount in.. Enter the new exchange rate for this currency. The exchange rate in this window is used only to convert this single cash receipt to home currency. Changes you make to the exchange rate in this window are not saved. Voiding a previously posted check Press F1 at Amt recvd, if the check number entered matches the check number for a previously posted cash receipt, to void the previously posted check.

10 Customers: Using CounterPoint - Entering Cash Receipts 10 You would use this void feature to remove a bounced check from your system. When you press F1, a message displays telling you the amount of the previous check and the number of open items to which the previously posted cash receipt was applied. NOTE: You can only void a check if it is still in Open Items. If you have closed open items and the payment is in the Closed Item file, the check cannot be voided. Void this check? Specify whether to void this check by selecting Yes or No. If you answer Yes, the remaining fields on the screen are completed automatically. Only Date and Reference may be changed, using Field number to change? Writing off entire documents You can write off entire documents in two ways: To enter a write-off without entering any actual cash receipts, press F2 at Pay code, enter date and reference information, enter the apply-to document number, and enter the amount to write off. To enter a write-off on the same transaction as actual cash receipts, enter the applyto document number, enter.00 for Amount applied, answer Yes to Is this OK?, and enter the amount to write off. Using either of these methods, you can enter a full or partial write-off for any open item. The write-off amount cannot exceed the maximum write-off amount specified in Setup / Customers / Control. You can perform write-offs for balance forward customers as well as open item customers. When you post cash receipt transactions that include write-offs, a debit memo type open item with a negative amount is created for the write-off amount. You can change the write-off account to use for distributions of write-off amounts by pressing F2 at Write-off or Write-off amount. The default write-off account is specified in Setup / Customers / Control. Automatically applying cash receipts from open item customers Press F2 at Apply-to, before entering any apply-to documents, to automatically apply this cash receipt. When you automatically apply a cash receipt, as many open items as possible are automatically paid, beginning with the oldest unpaid open item. Use valid discounts? This question appears when you press F2 to automatically apply a cash receipt. Specify whether to allow any valid discounts when applying this cash receipt by selecting Yes or No. NOTE: CounterPoint calculates discounts on the full transaction amount for open items. Discounts are not calculated on other amounts.

11 Customers: Using CounterPoint - Entering Cash Receipts 11 Applying credits You can apply existing credits in two ways: To apply a credit without entering any actual cash receipts, press F3 at Pay code, enter date and reference information, press F5 at Apply-to, and enter the document number of an existing credit To apply a credit on the same transaction as actual cash receipts, press F5 at Applyto, and enter the document number of an existing credit You can only apply open credits. If no open credits exist, F5 is not available at Apply-to. An open credit is an unapplied or self-applied document, including positive credit memos and payments, and negative debit memos. F5 can be used to alternate between entering credit documents and entering apply-to s. The prompt at the bottom of the screen tells you what pressing F5 allows you to do. After you apply a credit (using F5), the screen automatically reverts back to application of open item documents. Once you have specified the credit to apply, the amount that displays as To be applied: increases by the amount of the credit. You must fully apply this amount in order to complete this transaction. Reapplying cash receipts If you want to change the application of a cash receipt for an open item customer after the cash receipt has been posted, you can press F3 at Amt recvd after entering the same check number (which can be CASH) and date as the original cash receipt. NOTE: No distributions are generated when re-applied cash receipts are posted. The amount of a discount or write-off may be changed during a re-apply, but the totals for discounts and write-offs must equal the totals from the original transaction. If the amount of the discount or write-off is changed during a re-apply, you should make manual journal entries in your G/L package to reflect these changes. Reapply this cash/check? This question appears if you press F3 at Amt recvd. Specify whether you want to reapply the amount shown for the original cash receipt by selecting Yes or No. If you answer Yes, the Reference field is automatically changed to indicate that this cash receipt is a reapplication, and a new field called Orig discount and write-off total displays the total discount and write-off amounts from the original cash receipt. When you post a reapplied cash receipt, open item records are deleted or created to reflect the changes. Use previous applications? Specify whether to default to the original application(s) of this cash receipt If you answer Yes, all of the application lines of the original cash receipt are copied to this cash receipt. You can edit these lines as desired.

12 Customers: Using CounterPoint - Entering Cash Receipts 12 If you answer No, you must enter all application lines manually (or use F2 to automatically apply the cash receipt). Examples of applying open credits with cash receipts Example 1 Cash receipt that applies a single open credit and a payment to a single invoice Situation You receive a $10 check from a customer who has an open invoice for $25 and an open credit for $15. Handling Select Customers / Cash receipts / Enter 1. Enter the customer number. 2. Enter the pay code for Check. 3. Enter the check number. 4. Enter the date. 5. Enter $10 as the amount received. 6. Enter any reference information. 7. At the first apply-to field, press F5 to apply an open credit. 8. Press F9 to view a list of open credits. 9. Select the $15 open credit. 10. At the next apply-to field, press F9 to view a list of open ageables. 11. Select the $25 open invoice. 12. Leave the next apply-to field blank to complete the cash receipt. Example 2 Cash receipt that applies multiple open credits and a payment to a single invoice Situation You receive a $10 check from a customer who has an open invoice for $50 and several open credits in the following amounts: $20, $10, and $5 Analysis If you apply multiple credit memos on the Cash receipts screen, debit memos will be created when you post the cash receipt. To eliminate the creation of debit memos, reapply the credit memos using F2 from the Cash receipts screen.

13 Customers: Using CounterPoint - Entering Cash Receipts 13 Handling Select Customers / Cash receipts / Enter 1. Complete steps 1-6 from Example At the first apply-to field, press F9 to view a list of open ageables. 3. Select the $50 open invoice. 4. At Right open item?, press F2 to reapply other items to this apply-to. 5. Highlight the first credit memo and press F1 to re-apply. 6. Answer Yes to New balance for apply-to will be... Reapply this document?. The apply-to document s balance is updated as soon as you answer Yes to reapply the document. 7. Repeat steps 5 & 6 for next two credit memos. 8. Press Esc to return to the cash receipt entry screen. 9. At this point, any re-applications you made are permanently reflected in the apply-to document s balance regardless of whether you complete this cash receipt. 10. Answer Yes to Right open item?. 11. Leave the next apply-to field blank to complete the cash receipt. Example 3 Cash receipt that applies open credits and a payment to a multiple invoices Situation You receive a $10 check from a customer who has two open invoices (one for $50 and one for $30) and an open credit for $70. Analysis If you apply the credit and payment to multiple invoices on the Cash receipts screen, debit memos will be created when you post the cash receipt. To eliminate the creation of debit memos, re-apply the one of the invoices and the credit memo using F2 from the Cash receipts screen. Handling Select Customers / Cash receipts / Enter. 1. Complete steps 1-6 from Example At the first apply-to field, press F9 to view a list of open ageables. 3. Select the $50 open invoice. 4. At Right open item?, press F2 to reapply other items to this apply-to. 5. Highlight the $30 invoice and press F1 to re-apply. 6. Answer Yes to Are you sure you want to reapply?. 7. Answer Yes to New balance for apply-to will be... Reapply this document?.

14 Customers: Using CounterPoint - Entering Cash Receipts 14 The apply-to document s balance is updated as soon as you answer Yes to reapply the document. 8. Repeat steps 5 & 7 for the credit memo. 9. Press Esc to return to the cash receipt entry screen. At this point, the re-applications you made are permanently reflected in the apply-to document s balance regardless of whether you complete this cash receipt. 10. Answer Yes to Right open item?. 11. Leave the next apply-to field blank to complete the cash receipt. Printing the Cash Receipts Worksheet Select Customers / Reports / Cash receipts worksheet. You can use this worksheet to help determine how to apply cash receipts. All open credits will appear on this worksheet. Customer range Enter the range of customers numbers to include. Leave the second field <blank>, if you entered a specific customer number for the first field, to default to the same number. Press: F1 F2 For the First (or Last) existing customer number To enter a list of customers If you press F2 to enter a list of customers, you can enter up to 200 individual customer numbers in a scrolling pop-up window.

15 Customers: Using CounterPoint - Entering Cash Receipts Balance method Select: Balance forward To include only Balance forward customers Open item To include only Open item customers Press F1 for All customers. 5. Cash receipt date The current system date displays as the default. Enter the date for the cash receipts. The date entered here is used to determine the valid discount for each open item document. Documents dated after this date are not included on the worksheet. Printing the Cash Receipts Edit List Select Customers / Cash receipts / Edit list. You can use the Cash Receipts Edit List to review all cash receipt entries before posting to ensure that they are correct. Batch for user ID This field appears only if you specified in Setup / Customers / Control to use transaction batches. The default for this field is the batch user ID that was last used by this user when entering cash receipts. Enter the user ID of the batch you want to print.

16 Customers: Using CounterPoint - Entering Cash Receipts 16 Press F1 to print All cash receipt batches. Print deposit slips? This field appears only if you specified in Setup / Customers / Control to print deposit slips. Each user s answer will be used as the default the next time that user prints the Edit List, regardless of which batch user ID is specified. Specify whether to print deposit slips as defined in Setup / Customers / Control by selecting Yes or No. The deposit slips print after the Edit List. If you display the report to screen, the deposit slips appear after you press Esc at the displayed Edit List. Posting cash receipts Select Customers / Cash receipts / Post. Enter the information just as you would when printing the Cash Receipts Edit List. (See the Printing the Cash Receipts Edit List section on page 15 for more information.) If a cash receipt includes more than one ageable document or open credit or the total of the open credit amount exceeds the total of the ageable document amount, a debit memo is creating during posting in order to balance out the transaction. The debit memo is assigned a unique document number in the form of YYMMDD## (date plus a sequence number) to simplify tracking of the customer's open items.