Before beginning, go into A/R (Module #2), Task #1 (Sales Entry & Editing). Make sure the “Header Record Count:” is zero. Also check Task #2 (Cash/Receipts Entry & Editing) and be sure the “Header Record Count:” is zero. This is to verify three things.
1. Yesterday’s postings were completed.
2. Verify no one else is in the process of entering checks received in the mail.
3. Verify no one else is in the process of entering an A/R adjustment (i.e. a bad debt write-off)
NOTE: To have one person posting the over the counter cash, checks & credit cards & a different person posting the checks received in the mail or to have multiple users entering checks in A/R (Module 2), Cash/receipts entry & editing (Task 2), see document titled: Cash/Receipts Entry & Editing - Multiple Users.
_____ Receive packet of invoices, checks, credit card receipts, and cash from yesterday. Print Invoiced Order Holding File from Order Processing (Module #6); Invoiced Order Holding File (Task #2); Edit list (Sub-task #4). Verify invoices, voids, changed prices, etc. Verify cash, checks and credit cards received are correct. Correct any messages, i.e. “*C.O.D. customer has charge amount – order will NOT post*”, or “Unknown G/L account”. Make any necessary changes and reprints.
_____ Post from Order Processing, Invoiced Order Holding File 6-2-5
Verify printed before answering YES. Save the posting.
- After posting for specific date range, print another edit list for ALL dates. This edit list should be blank except for Summary Invoice orders, if applicable.
- Or go into the Holding File, Sub-task #1 (Enter New/Change Existing Order) and at the Order # field, press the F10 key, press ENTER at warehouse #, and press ENTER at order date.
- Either method (1 or 2), after posting a specific date range of invoices, will show any orders in the Holding File that haven’t been posted to the A/R module.
- It is very important the invoices are billed and posted in the same month. This file should be blank at the end of either every day or at least at the end of every month (because of Summary Invoices). This will help to prevent old invoices from getting lost in the Holding File and never posted to the A/R module.
_____ Accounts Receivable (Module #2); Sales Entry & Editing,(Task 1); pre-print preview an edit list (subtask #4). Verify the total is the same as the Total from the Invoice Holding File posting (6-2-5). Verify General Ledger account distribution and verify costs. Post Sales records to A/R files (Subtask 5). Verify printing of posting before answering YES. Save the posting.
_____ Enter Total Sales amount in A/R Daily Balancing Spreadsheet.
_____ Accounts Receivable (Module #2), Cash/Receipts Entry & Editing (Task #2), print a Cash Edit list (Sub-task #4). The “Total Amount Received” at the bottom of the edit list MUST equal your deposit of checks and cash from over the counter, plus the credit cards (Visa/Master Card, American Express and Discover).
_____ Make the deposit ticket out. If posting yesterday’s activity, date deposit ticket yesterday. The total of the deposit MUST equal the “Total Amount Received” from the edit list minus the credit cards.
· If yesterday a customer called to make a credit card payment on account over the phone, credit card payment would be on the credit card batch settlement report.
· In Order Entry, a payment receipt may have been created. If this is the case, the payment receipt needs to be brought up in Subtask #2 - Change Existing Cash. The payment will need to be distributed to open invoices on the second screen.
· If the payment receipt was NOT created in Order Entry, the credit card payment needs to be entered into Cash Receipts Entry & Editing and applied to invoices on the second screen (similar to checks that come in the mail).
o Print new cash edit list, the total of the credit cards MUST be correct.
· If yesterday the cash was short 50 cents, the shortage MUST be entered.
o Enter a new cash transaction.
§ Trx type 7 or 8 Misc-
§ Customer # 99999 (Type in “Cash short 50 cents”)
§ Recv date – defaults to yesterdays date (or if posting multiple dates, it defaults to the last date in the cash entry)
§ Division # - enter in correct division #
§ Field #6 through #13 blank
§ Field #14 enter in the G/L account # for Short/Over
§ Field #15 enter in -.50 (if the cash drawer was 50 cents over, the amount would be 50 cents positive)
§ Enter to the bottom of the screen. When at “Any Change?:” prompt the “Total to Apply” should be zero. It won’t go to the second screen.
o Print new cash edit list. The “Total Amount Received” should be 50 cents less that the “Total change to A/R:”. The “Total Amount Received” MUST be the same as your deposit plus the total of the credit card Batch settlement report.
_____ Subtask #5 - Post cash records to A/R files. Verify printing before answering YES. Save the Posting.
_____ Enter the “Total Change to A/R”, from the cash posting, into the A/R Daily Balancing Spreadsheet.
_____ If needed, enter Deposit and Credit Cards into A/P Module, Task #20 Check Account.
_____ Let other A/R people know they can go in and post checks that came in the mail or A/R adjustments.
_____ If, interfacing A/R to the G/L daily, this may be done at this time. If this is your company’s policy, remember nothing can be entered with a previous date, i.e.. Invoices, credit memos, debit memos, finance charge, checks, cash or credit cards, NOTHING WITH A PREVIOUS DATE.