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academy:business_accountsreceivablequickchecklist
Accounts Receivable Checklist
This guide provides you with information about using Accounts Receivable to perform the following functions:
- Maintain customer records
- Maintain invoice details such as invoice number, request date, customer purchase order numbers, and assigned budget codes
- Print invoices
- Run customer and invoice inquiries
- Create credit and debit memos
- Apply full and partial invoice payments
- Print customer notices, statements and aging information
- Interface with Finance to allow real-time general ledger updates
LEAs may use Accounts Receivable to issue invoices for the following:
- ESC contracts, workshops, etc
- Library fees
- Special events
- Tuition payments
Some of the images and examples provided in this document are for informational purposes and may not completely represent your LEA’s process.
This guide assumes you are familiar with the basic features of the ASCENDER Business system and have reviewed the ASCENDER Business Overview guide.
| 1. | Finance > Tables > District Finance Options > Accounting Periods Verify that the Accounts Receivable Period is accurate. The Accounts Receivable Period field cannot be less than the Current (Open) Accounting Period field nor greater than the Next Accounting Posting Period field. |
| 2. | Finance > Tables > District Finance Options > Clearing Fund Maintenance Under Finance Automatic Posting Defaults, add or verify the following:
• Accounts Receivable |
| 3. | District Administration > Options > Accounts Receivable Indicate the number of invoices to be printed each month as well as any additional text you would like printed on invoices when overdue. |
| 4. | Finance > Maintenance > Vendor Information > Vendor Name/Address Set up customers with a vendor number. This is only necessary if processing an overpayment refund to the customer. After creating a vendor number for the customer, add the vendor number to the customer record in step 5. |
| 5. | Accounts Receivable > Tables > Customer Information Set up customers and add vendor information at this time if step 4 was completed. If not, vendor information can be added at a later time. |
| 6. | Accounts Receivable > Tables > Product Information Add product information. This allows invoices that are manually entered to automatically retrieve the product information and amount. Invoices and invoice templates may be created without this table. However, if this table exists and an invoice is created, then the product types are conveniently available in the product type drop down. Notes: A product number is automatically created and saved when a record is created in this product table. When a product type is selected from this table for an invoice, the corresponding product number is stored in the invoice product record. If you select a product type from the drop down when creating an invoice, the associated description and unit cost becomes the default values in the invoice record but can be changed. Users should be aware that the product number is still associated with the original description regardless of any changes made to the description. |
| 7. | Accounts Receivable > Maintenance > Create/Modify Invoice or Accounts Receivable > Utilities > Import Invoices You have two options for creating invoices. You can manually enter invoices on the Create/Modify Invoice page or import the invoices using the Import Invoices page. |
| 8. | Accounts Receivable > Utilities > Print Invoices Print invoices. This process will:
• Create a realized revenue in the finance application (credit to revenue)
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| 9. | Accounts Receivable > Maintenance > Invoice Payments > Payments This will record the customer’s payment. The user can continue posting to the same cash receipt number throughout the day. This process will:
• Create a cash receipt coded against the 12XX account (credits receivable)
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academy/business_accountsreceivablequickchecklist.txt · Last modified: 2022/05/12 19:49 by emoreno