Monthly Archives: August 2016

One Simple Trick to Clean Up A/R (That Most People Forget)

Nodus Technologies is a proud partner of Prophet Business Group. Below is a guest post by Prophet demonstrating a simple way to clean up your A/R.

Over and underpaid invoices are the kind of little problem that bother you, but finding a solution rarely makes it to the top of the to-do list. I mean, your options are typically a) making a collection call or issuing a credit for $.39 or b) leaving the invoice open to clutter up the Aged Trial Balance and Customer Statements.

Luckily, Dynamics GP offers an easy mechanism that will save you from chasing pennies and cleanup your A/R process. It’s called ‘Write-Off Documents’ and it’s not new, but it’s something a lot of GP users forget about.

How to manage over and underpayments with Write-Off Documents

Let’s say your customer receives an invoice for $450.27 and they send a payment for $450.00. If you can live with the $.27 underpayment, you can forgive the outstanding amount completely and apply the document by entering the amount in the write-off field of the Apply Sales Documents window.

blog pic 1

The Amount Remaining is now $0.00 so this document can move off to HST when you complete the Paid Transaction Removal process, and will no longer appear on the Aged Trial Balance or Customer Statements.

However, if you’d rather manage over and underpaid invoices as part of your A/R month-end routine, you have that option as well.

blog 2 pic

Use the Write-Off Documents window to write off outstanding credit or debit balance amounts for one or more customers. You can specify a write off limit, cutoff date, and whether to create one credit or debit memo for either each customer or document. The debit or credit memos that you create will be posted and applied to the documents you’re writing off balances for.

Remember, this is intended to let you write off a few cents for imprecisely paid invoices, not to forgive bad debts.

If you want to get started with Write-Off documents, you can reach out to Prophet Business Group, a Microsoft Dynamics GP Partner in Winnipeg, MB. Or, if you’re interested in other ways to streamline your A/R, you can register for A/R Automation 101, a 60-minute joint webinar with Nodus Technologies on August 17th at 11am Central Time. Attendees of this webinar will learn about:

-Automating Accounts Receivables

-Providing customers the convenience of online bill pay

-Securing sensitive payment information and reducing the scope of PCI Compliance 

 

 

 

Advertisements