The Residual A/R Balance Eliminations utility lets you eliminate residual Accounts Receivable balance amounts created by exchange rate fluctuation and currency rounding differences. Residual balances show up as open items in receivables. This utility eliminates the residual balance amounts by generating debit memos or credit memos to offset the balance.
NOTES: Before generating any financial statements, use this utility to eliminate any residual balance.
This utility only generates debit and credit memos for individual customers and not for corporate customers.
You enter the search criteria ranges for the residual balances. The lower grid displays the results based on the criteria you selected. If the open invoice amounts are positive numbers, the utility generates Credit Memos; if the amounts are negative numbers, the utility generates Debit Memos. Once the utility generates the debit or credit memos, you can use the Invoice, Debit and Credit Memos form to modify the transactions and then post using the Invoice Posting Utility.
The Debit Memos and Credit Memos generated here are similar to those entered using the Invoice, Debit and Credit Memos form except they will use the general ledger account number defined in this utility. You can still run the Delete A/R Posted Transactions utility to set the customer balance forward to zero.
For open item customers, the utility searches their open accounts receivable records and invoices net balance due. If the net amount is a positive balance, the system creates a Credit Memo for each of the invoices. If the net amount is a negative balance, the system creates a Debit Memo for each of the invoices.
For balance forward customers, the utility searches their open accounts receivable records and net amount from their invoices. If the net amount is a positive balance, the system creates a Credit Memo as an open credit and the invoice number will be zero. If it is a negative balance, the system creates a Debit Memo and the invoice number will be zero. The words "Balance Forward" display in the Invoice column on the lower grid. The Invoice Date in the grid will be blank.