Whats the journal entry happened when ERP doing sales ?

1. A customer is an organization or person with whom you have a selling relationship. This selling relationship can result from the purchase of products and services or from the negotiation of terms and conditions that provide the basis for future purchases.

· Navigate to Define Customers Form:

Responsibility: AR: Customers > Standard

· Find the existing customer using above window. In Customer Tab Region Enter the partial name of a customer and then click on find button to find a customer.

· After finding a customer click on the new button to create a new customer.

· Enter Customer Type: Organization

· Enter Name: Define a Unique Name of your customer

· Customer Number: System will auto generate this number

· In Address Tab Region give address of the customer

· Now in all Tabbed regions give all the necessary information about a customer in yellow fields because these are the mandatory fields, save and close. Your new customer has been defined and you can search it from the main customer window.

TRANSACTIONS

ENTERING A MANUAL INVOICE

1. To enter a manual invoice opens the form transactions.

· Navigate to Define Transactions Form:

Responsibility: AR: Transactions > Transactions

· Transaction Source: Enter/ Select Manual from LOV. Transaction source defines where invoicing activity originates or it means that transactions were manually entered.

· Transaction Number: System will auto generate this number/ manually entered.

· Transaction Class: Select Invoice from LOV

· Transaction Type: Enter/ Select from LOV. Use transaction types to define the accounting for the debit memos, credit memos, on-account credits, charge backs, commitments, and invoices you create in Receivables. Transaction types also determine whether your transaction entries update your customers' balances and whether Receivables posts these transactions to your general ledger.

· Enter Date & GL Date

· Currency PKR

· In Bill to region select the customer against which the invoice is being booked. System will auto fill the information in Sold to & Paying Customer regions.

· Now click Line Items button at the bottom of the main transactions window. This will automatically save the entered transaction and system will give you the manual invoice number and the document sequence number.

· Select the description from the LOV and enter Quantity and unit price. The amount will be calculated automatically.

· Save your work.

· Click Distributions button if you want to check/ change the accounting combinations defaulted from the transaction type selected.

· Note Total % must be equal to 100.

· Now in Balance Due region your entered invoice amount will appear in Line field & Total amount in respective field. If u apply the Tax, Freight & Charges to an invoice then these will also appear in Balance Due region.

· Click the Complete button after verifying/ changing the details of the transaction.

ENTERING RECEIPTS

ENTERING RECEIPTS

1. Use the Receipts window to enter new or query existing receipts.

· You can enter two types of receipts in Receivables:-

Ø Standard receipts (Against Customers): Payment (such as cash or a check) that you receive from your customers for goods or services. Also known as cash receipts.

Ø Miscellaneous receipts (Against Any Activity): Revenue earned from investments, interest, refunds, stock sales, and other nonstandard items.

· You can enter receipts and apply them to transactions in either Open or Future accounting periods.

· Navigate to Define Receipts Form:

Responsibility: AR: Receipts > Receipts

· Enter a Receipt Method: (Receivables use the receipt method to determine the accounting and remittance bank accounts for this receipt).

· Enter the receipt number, currency, receipt amount, GL date, and receipt date.

· Receipt Type: Standard

· Enter the transaction number of the customer for the receipt. The name customer associated with this transaction appears in the Receipts window.

· If you have not entered the transaction, apply the receipt number by pressing the Application button and then choose the transaction.

· From the remittance tabbed region enter the receipt deposit date. This value is optional.

· The default remittance bank account is displayed from the payment method you enter. Accept this value or enter any bank account assigned to the payment method if the bank account is in the same currency as that of the receipt.

· Save your work.

APPLYING A RECEIPT

TO MANUALLY APPLY RECEIPTS

1. In the Receipts window, click Application Button to apply the receipts to any available invoice for the customer.

· Enter the name or number of the customer if the receipt is unidentified.

· Select the transaction to apply this receipt from the list of values.

· AR enters the amount applied for this receipt and updates the unapplied amount of the receipt and the balance due for this transaction

· Enter On Account in the Transaction Number field to place an amount on account.

· Save the data and Receivables will update the customer's account balances.

· Go to Tools and click on the view accounting to review the accounting entries for the receipt on the main screen.

· For adjustment click on the Adjustments button at the bottom of the application window under Receipts main window.

RECEIPTS REVERSAL

RECEIPT REVERSAL

· Navigate to Receipts Reversal Form:

Responsibility: AR: Receipts > Reverse….1 Button

· Query the receipts you want to reverse.

· Click the reverse 1 button at the bottom of the main receipts window.

· Enter the reversal and GL date of the receipt to be reversed.

· Select the category and reason for reversal from the LOV (List of Values) and enter the comments if any.

· Click reverse button it will automatically save your transaction.

· Check the status which is now reversed.