Adjustments to invoices can be done by posting credit balance invoices and the associated receivable posting, or you can use either of the following high speed forms in Receivables/Invoice Adjustments that automate the process and make all the necessary transactions via a single posting.
The two methods supported are:
Accrual Adjustment
This is used to adjust an invoice down, by creating a negative sale and then posing two complementary receivables entries that close out the invoice balance due. This results in a reduction of sale, and no receivables.
Credit Balance Transfer
When cash receivables posted against an invoice exceed the amount of the invoice, it creates a credit balance on the invoice. Many times customers overpay or pre-pay for a service. This way you can post the receivable and then later easily transfer the monies with a single step from the credit balance invoice to an open balance invoice. The form supplies all the audit trail transactions with notations, so a compete history of the transfer is maintained.
The Credit Balance Transfer feature supports the movement of the dollar credit amount for an invoice (credit balance, i.e., over payment) to an open invoice where the customer/site still has a balance owed.
To start the routine go to Main Menu Receivables / invoice adjustments / credit balance transfer. Click the Add New button, and populate the top line of the form which is the line that identifies the invoice with the credit balance. You can look up the invoice starting at the customer level, or go right to the invoice search (magnifier) and select all open invoices, sort on balance so the invoices with a negative balance are at the top of the list and double-click to select the credit balance invoice to transfer.
Repeat the process for the selection, on the second line, of the invoice that the money is being transferred to. Tab through the rest of the form entering notes and codes if changes are needed until the Post command button becomes active (not gray).
Click the Post command button and the form will make all the necessary transactions to transfer the credit balance.
WARNING
Please remember to verify post date if you want these transactions to be recorded with a date other than the current date.
See Also