This chapter is a synopsis associated with application of money receipts and corrections to invoices. The money application procedure for the Real Estate Management system is similar to the main one for the Accounts system that is receivable because of the after exceptions:
The device makes use of rent figures and bill codes to make use of money receipts. It doesn’t consist of moms and dad figures.
The bill codes have actually various priorities, which affect how a system is applicable re payments that don’t precisely match invoices.
With bill codes, you can use prepayments immediately.
It updates the Lease Financial Overview file (F1520), which provides the balances that are cumulative the amounts billed and cash received for every duration.
The money application procedure involves the after tasks:
Apply the money receipts.
Review and accept the receipts.
Post the receipts.
JD Edwards World advises that you apply just the Real Estate Management displays for the money receipts and changes associated with a tenant’s account.
27.1 Apply Money Receipts
Just before can put on a money receipt, put up the information that is following
Real-estate Management constants and user defined codes
Facility, tenant, and rent information
Records receivable constants
Bill codes using their automated accounting instructions (AAIs)
27.1.1 Batch Entry and Reputation
This display enables you to validate the quantity and amount that is total of papers which you consist of in just a batch. Batch control, that will be optional, is managed by the Batch Controlled Required (Y/N) industry from the accounts constants that are receivable. Whenever industry is placed to Y (Yes), the Batch Entry and reputation display screen seems each right time which you choose and exit a receipts entry screen.
27.1.2 Receipts Entry
You employ the after screens to include and make use of money receipts. The areas and procedures for both displays are identical, nevertheless the places of a few of the industries will vary. It is made by this difference more straightforward to use cash receipts in numerous circumstances.
For Receipts Entry (Heads Up), you see the display screen given that operational system provides the data for the invoices. You may either pre-load the A/R information onto the display or use the money receipt immediately.
For Receipts Entry (Heads Down), you appear far from the display screen while you manually form the details when it comes to invoices from the ledger or even the documents that are actual.
The machine updates the A/R Account Ledger file (F0311), however it will not include information that is new the Tenant/Lease Billings critical hyperlink Detail file (F1511). You employ the methods that are following that you specify having a TI (form of Input) rule, to make use of money receipts:
Balance Forward – pertains a repayment towards the earliest invoice that is open then every single preceding invoice through to the whole quantity of the re payment was used. Here is the many easy technique in the money application procedure.
Invoice Matching – pertains a repayment to all or any or section of an invoice that is specific. This is actually the most method that is common the money application procedure.
General Ledger – this technique is for miscellaneous receipts such as for instance vending device commissions, postage receipts from workers, and so forth. Such receipts usually do not relate with tenant invoices. In cases like this, the system updates the G/L Account Ledger file (F0911) as opposed to the A/R Account Ledger file.
Chargeback Debit – This technique is actually for an invoice with a credit declare that happens to be disallowed, a disputed fee for a fix, or components which have been back-ordered. The system “pays off” (clears) the unpaid portion of the invoice and creates a new invoice in its place because the cash receipt is most likely a partial payment. You may then bill a tenant once again for that unpaid quantity.
Unapplied Credit – in cases where a money receipt can not be matched with a preexisting invoice, this process produces an innovative new, available receivable deal which can be matched at a subsequent date. Typical forms of unapplied credit (money) are prepayments for lease, overpayments, and protection deposits.
You’ll have prepayments used immediately to brand new invoices whenever you operate the Post Invoices system. The program operates a DREAM Writer type regarding the G/L Transaction Generation system (P15199), which produces a batch of money receipts for automated application that is prepaid the processing choices are set properly. This might be helpful in the event that you get plenty of re re payments ahead of the real invoices are created and posted.
Distribute – Adjusts receivables in the account that is same relates open credits such as for example unapplied money to an invoice.
Adjustment – Corrects a quantity billed in mistake, writes down a negative financial obligation, or writes down an amount that is uncollectable. You can also adjust the accounts by the amount of the receipt from one tenant to the other if you add a receipt for the wrong tenant.
27.1.3 Review and Approve Receipts
The batch review and approval center is just an alternative that is paperless the standard log reports and includes the next three degrees of information.
At the very first degree, you’ll review and accept batches of deals. Through the selection of batches, you are able to opt for a batch that is specific show the second degree of detail.
During the 2nd level, you’ll review all of the papers in a batch. The device provides basic information for each document. Using this list, you are able to select a document that is specific show the following standard of information.
In the 3rd degree, it is possible to review or replace the detail in a document.
27.1.4 Receipts Journal Review
This display, which will be the very first degree of information within the review procedure, allows you to review and accept batches of receipts for publishing. Using this display screen, you have access to one other two amounts of information. This group of shows shows and updates information within the Batch Control Records file (F0011) and also the A/R Account Ledger file.
27.1.5 Tenant A/R Ledger Inquiry
This display screen enables you to show and print a tenant’s deal history for records receivable. These details is held into the A/R Account Ledger file.
27.1.6 Receipts & Adjustments Journal
This report is a journal that is traditional may use to proof and balance transactions associated with cash receipts. Although the report is effective, the online review procedure, which starts using the Receipts Journal Review display, is faster and much more versatile. Nevertheless, the report may possibly provide an even more workable kind for a step-by-step report on some balancing issues.
27.2 Post Receipts
The type of the post system for money receipts does the immediate following:
Selects unposted transactions through the A/R Account Ledger file.
Verifies the given information in each deal.
Articles the deals towards the G/L Account Balances file (F0902).
Markings the deals as published within the following files: G/L Account Ledger, A/R Account Ledger, and Batch Control Records. The codes that are posted the 3 files are P, D, and D, correspondingly.