Search
Generic filters
Exact matches only
Search in title
Search in content
< Back

• Adjust Receivables to make corrections and create the appropriate entries to Contracts, Job Cost, General Ledger, and Cash Management.

– Edit invoices and cash receipts.

• Use an edit when…

– 1 – You do not want the edit to appear as a separate line item on reports and inquiries.
– 2 – You need to correct non-amount information such as contract and job information, descriptions, due dates, accounting dates, and debit and credit accounts. Adjust invoices and cash receipts.

• Use an adjustment when…

– 1 – You want the adjustment to appear as a separate line item on reports and inquiries.
– 2 – You want to print an adjustment memo.
– Enter customer credits and debits.
– Print an invoice adjustment memo.
– Apply customer cash receipts and customer debits and credits to specific invoices.
– Unapply cash receipts.
– Void invoices, cash receipts, and adjustments.

• Void when…

– 1 – The invoice should not be in the system.
– 2 – The invoice came from the Billing Application and youneed to change it.
– 3 – You need to change the customer, invoice date, retainage account or tax retainage account.

For Invoice Adjustments:

• Billed credit—applies a billed credit adjustment to the invoice and decreases the billed amounts on the customer, contract, and contract item or job. This also reduces the revenue amount in General Ledger. Use this type when you want the credit memo
to reduce the amount billed for the invoice.

• Billed debit—applies a billed debit adjustment to the invoice and increases the billed amounts on the customer, contract, and contract item or job. This also increases the revenue amount in General Ledger. Use this type when you want the debit memo to increase the amount billed for the invoice.

• AR credit—applies a credit adjustment to the invoice but does not decrease the billed amount on the customer, contract, and contract item or job. If this is a nonfinance charge distribution, it also affects the write-off account from AR Settings in General Ledger. If this is a finance charge distribution, it also affects the finance charge write-off account from AR Settings in General Ledger. Use this type when you want to reduce the receivable amount for the invoice without affecting the billed amounts.

• For Invoice Adjustments:

• AR debit—applies a debit adjustment to the invoice but does not increase the billed amount on the customer, contract, and contract item or job. It also affects the revenue accounts in General Ledger. Use this type when you want to increase the receivable
amount for the invoice without affecting the billed amounts.

• Bad debt—applies a credit adjustment to the invoice but does not decrease the billed amount on the customer, contract, and contract item or job. This also affects the bad debt account from AR Settings in General Ledger. Use this type when you want to reduce the receivable amount for the invoice without affecting the billed amounts and you want this adjustment to be reflected as a bad debt write-off in General Ledger.

• Write off—applies a credit adjustment to the invoice but does not decrease the billed amount on the customer, contract, and contract item or job. If this is a non-finance charge distribution, it also affects the write-off account from AR Settings in General Ledger. If this is a finance charge distribution, it also affects the finance charge writeoff account from AR Settings in General Ledger. Use this type when you want to reduce the receivable amount for the invoice without affecting the billed amounts.

• For Customer Adjustments:

• Customer credit—applies a credit to the customer account, not to any specific invoice. Customer credit does not create entries to other applications. Use this type when you want to enter a customer credit that can be applied to an invoice later.

• Customer debit—applies a debit to the customer account, not to any specific invoice. Customer debit does not create entries to other applications. Use this type when you want to enter a customer debit that can be applied to an invoice later.

• For Cash Receipt Adjustments:

• Refund—use to reflect a refund for a cash receipt. This reduces the customer receipt balance on the customer and makes entries to General Ledger. No entries are made to Cash Management. If you are using Accounts Payable, you must enter the refund check in Record Manual Checks. For more information on entering manual checks, see “Entering checks written manually” and “About refunds” in Accounts Payable Help.

• NSF check—reverses a cash receipt that was returned as non-sufficient funds. This makes reversing entries to the customer, contract, job, and General Ledger. An adjusting entry is created for Cash Management for the NSF check and its bank charge if one is entered.

Previous Sage 300 CRE: Populating fields in the Contract module
Next Sage 300 CRE: Adding a new user
Table of Contents
Want Exclusive Sage Construction Software Tips?
Join Our eNewsletter
Get Sage Construction software promotions, events and updates delivered straight to your inbox!
Subscribe
Give it a try, you can unsubscribe anytime.
close-link
X