Posts tagged Accounts Receivable
How to Void Accounts Receivable Transactions

Occasionally in Dynamics GP you will need to void an Accounts Receivable transaction. Voiding a transaction in Accounts Receivable differs from voiding an Accounts Payable transaction in that there is only one place to go to in AR: Posted Transactions.  To get to this window go to: Sales > Transactions > Posted Transactions.

In the Receivables Posted Transaction Maintenance window, enter or select the customer for the transaction you wish to void.  Then you will want to select the Document Type of the transaction you wish to void.  Options include Sales / Invoices, Debit Memos, Finance Charges, Service / Repairs, Credit Memo, Returns, Payments.  Once you select the type you can click the looking glass next the Number to select the transaction.

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Month End Reconciling Process for Accounts Receivable

Each month as part of the month end reconciling process you will want to confirm that your GL Accounts Receivable account ties to your receivables sub-ledger.

First you will want to generate the Historical Aged Trial Balance Report in Sales. To do this go to:  Sales > Reports > Trial Balance.  Reports:  Historical Aged Trial Balance. Options: Month End or default (this will depend on your report options settings).  In the Report Options window you will want to select the date to Print/Age as of, select the last date of the month you are reconciling. I recommend generating this report In Detail (mark the In Detail box), but you could generate it as a summary report.

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Using Reconcile to GL for Accounts Receivable Reconciliation

When your Accounts Receivable GL account does not tie to your sub-ledger receivables, you will need to find the discrepancy.

A great tool for this is the Reconcile to GL routine.

Before you use this tool you will want to make sure all transactions have been posted through the GL.

You can find this tool by going to Financial > Routines> Reconcile to GL.

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