How about this round about way:
1. Create a duplicate invoice.
2. Create an identical credit memo. (Sales would be unchanged)
3. Adjust the amount of the credit memo after posting so as to zero it out.
Use CASH as the account for the adjustment. This would generate an entry to
credit cash and debit AR, leaving cash corrected and a debit balance in AR
from the duplicated invoice.
-----Original Message-----
From: H. Dale Puls [mailto:DPuls@...]
Sent: Thursday, August 10, 2000 5:22 PM
To: vantage@egroups.com
Subject: RE: [Vantage] AR Check bounced -- how to get invoice back on
aged receivable &
Carol,
Your solution is better and I can create a misc invoice with a date that
will place it into the aged receivables correctly (I think). A couple of GL
entries should "back out" the deposit but what can I do about the customer's
YTD sales, payment amount, and payment dates in the Invoice Aging screen.
(The misc invoice will show up as additional sales and the payment amount /
date will be incorrect.)
Dale
-----Original Message-----
From: Carol Engen [mailto:cengen@...]
Sent: Thursday, August 10, 2000 5:12 PM
To: vantage@egroups.com
Subject: RE: [Vantage] AR Check bounced -- how to get invoice back on
aged receivable &
How about entering a Misc Invoice with a description that says...'Re-invoice
for NSF check number 123.' Terms = Now, You can't code it to cash ...you
would need a Product Group set up to handle this, I believe (and since this
isn't, hopefully, something that happens on a regular basis, I wouldn't set
up a Product Group just for this event.). The Invoice would go to whatever
Revenue account is set up in the Product Group you select. To get Cash
right at month end, you would have to do a GL entry to reduce (credit) cash
and reduce Revenue (debit).
The receivable is back on the books (but not aged out...unless Vantage lets
you enter the original date of the invoice(s), but be sure to do it in your
current fiscal period.) I would also enter a memo on the original
invoice(s) referencing the replacement invoice number.
-----Original Message-----
From: H. Dale Puls [SMTP:DPuls@...]
Sent: Thursday, August 10, 2000 4:51 PM
To: vantage@egroups.com
Subject: RE: [Vantage] AR Check bounced -- how to get invoice
back on aged receivable &
Sorry Matt but that's really not a solution.
We'll end up placing the customer on credit hold but I must have a
way to:
a) Re-invoice them so they know they owe us money.
b) Be able to actually handle the payment when it arrives.
c) Have a valid audit trail within Vantage for all the transactions
(like a
big company)
Dale
-----Original Message-----
From: Matt Finn [mailto:matt@...]
Sent: Thursday, August 10, 2000 5:11 PM
To: vantage@UUCP {vantage@egroups.com}
Subject: RE: [Vantage] AR Check bounced -- how to get invoice back
on
aged receivable &
Dale: The easiest way is to get the customer to 'make good'
on the check immediately (wire) and deal with the entries to
cash
in the G.L. without doing the 1.2.3 listed below.
I have a situation where an AR invoice has been paid (and the
invoice
closed) with a check that has "bounced". How can I perform ALL of
the
following clean-up:
1) Re-open the invoice and remove the "payment" so the invoice
reappears as
an aged receivable.
2) Reverse the GL entries
3) Make sure the customer's YTD sales, payment amount, and payment
dates are
correct (after removing the "bounced" check) in the Invoice Aging
screen.
Dale Puls
Pacesetter Electronics
We no longer allow attachments to files. To access/share Report Files,
please go to the following link: http://www.egroups.com/files/vantage/
(Note: If this link does not work for you the first time you try it, go to
www.egroups.com, login and be sure to save your password, choose My Groups,
choose Vantage, then choose Files. If you save the password, the link above
will work the next time you try it.)
1. Create a duplicate invoice.
2. Create an identical credit memo. (Sales would be unchanged)
3. Adjust the amount of the credit memo after posting so as to zero it out.
Use CASH as the account for the adjustment. This would generate an entry to
credit cash and debit AR, leaving cash corrected and a debit balance in AR
from the duplicated invoice.
-----Original Message-----
From: H. Dale Puls [mailto:DPuls@...]
Sent: Thursday, August 10, 2000 5:22 PM
To: vantage@egroups.com
Subject: RE: [Vantage] AR Check bounced -- how to get invoice back on
aged receivable &
Carol,
Your solution is better and I can create a misc invoice with a date that
will place it into the aged receivables correctly (I think). A couple of GL
entries should "back out" the deposit but what can I do about the customer's
YTD sales, payment amount, and payment dates in the Invoice Aging screen.
(The misc invoice will show up as additional sales and the payment amount /
date will be incorrect.)
Dale
-----Original Message-----
From: Carol Engen [mailto:cengen@...]
Sent: Thursday, August 10, 2000 5:12 PM
To: vantage@egroups.com
Subject: RE: [Vantage] AR Check bounced -- how to get invoice back on
aged receivable &
How about entering a Misc Invoice with a description that says...'Re-invoice
for NSF check number 123.' Terms = Now, You can't code it to cash ...you
would need a Product Group set up to handle this, I believe (and since this
isn't, hopefully, something that happens on a regular basis, I wouldn't set
up a Product Group just for this event.). The Invoice would go to whatever
Revenue account is set up in the Product Group you select. To get Cash
right at month end, you would have to do a GL entry to reduce (credit) cash
and reduce Revenue (debit).
The receivable is back on the books (but not aged out...unless Vantage lets
you enter the original date of the invoice(s), but be sure to do it in your
current fiscal period.) I would also enter a memo on the original
invoice(s) referencing the replacement invoice number.
-----Original Message-----
From: H. Dale Puls [SMTP:DPuls@...]
Sent: Thursday, August 10, 2000 4:51 PM
To: vantage@egroups.com
Subject: RE: [Vantage] AR Check bounced -- how to get invoice
back on aged receivable &
Sorry Matt but that's really not a solution.
We'll end up placing the customer on credit hold but I must have a
way to:
a) Re-invoice them so they know they owe us money.
b) Be able to actually handle the payment when it arrives.
c) Have a valid audit trail within Vantage for all the transactions
(like a
big company)
Dale
-----Original Message-----
From: Matt Finn [mailto:matt@...]
Sent: Thursday, August 10, 2000 5:11 PM
To: vantage@UUCP {vantage@egroups.com}
Subject: RE: [Vantage] AR Check bounced -- how to get invoice back
on
aged receivable &
Dale: The easiest way is to get the customer to 'make good'
on the check immediately (wire) and deal with the entries to
cash
in the G.L. without doing the 1.2.3 listed below.
I have a situation where an AR invoice has been paid (and the
invoice
closed) with a check that has "bounced". How can I perform ALL of
the
following clean-up:
1) Re-open the invoice and remove the "payment" so the invoice
reappears as
an aged receivable.
2) Reverse the GL entries
3) Make sure the customer's YTD sales, payment amount, and payment
dates are
correct (after removing the "bounced" check) in the Invoice Aging
screen.
Dale Puls
Pacesetter Electronics
We no longer allow attachments to files. To access/share Report Files,
please go to the following link: http://www.egroups.com/files/vantage/
(Note: If this link does not work for you the first time you try it, go to
www.egroups.com, login and be sure to save your password, choose My Groups,
choose Vantage, then choose Files. If you save the password, the link above
will work the next time you try it.)