Ch-06 AcctRec - Natural Broadcast Systems
Contents
1. Page 6 2 Natural Log User Manual 6 1 Customer Accounts cont After selecting the desired customer as described on the previous page you will see the customer file displayed Customer AC ECARE G File 0043 Sponsor ABC DOORK Bill To WIER TITE NOBS amp HOWE Acct Balance 720 00 Unbilled 26 50 223 BANKERS BLVD TTL Balance 746 50 NEW YORK NY Last Active 12 31 90 10010 1923 Client Since 10 07 89 I 0 Address 212 555 5595 Stmnt Cycle ab 212 555 5556 Source NATIONAL Credit Limit 2000 00 A WIER Agency YES Late Charges 1 50 6 IMA OWNERSKID NatRep NO Tax rate 0 00 Reference Customer PO Transaction Billed EMO FM ABC DOORKNOBS EMO FM ABC DOORKNOBS 12 31 91 91 12 098 EST TE EMO FM ABC STORM DOORS CUSTOMER Tl Enter View Invoice Pmt Print Statement History Memo ESC Your CUSTOMER ACCOUNT choices are ie Move the cursor up down to select the invoice to be viewed Enter View or Reprint the highlighted Invoice or Payment History Searches for all transactions for this customer for a specified period of time Displays a list and allows you to select items for viewing on screen and reprinting if needed A sample of the screen listing of the Customer History is shown on the next page Memo Enter up to 10 lines of notes regarding this customer Natural Log User Manual Page 6 3 6 11 Customer Account History2. A G Y AGENCY 400 00 09 VOID 0090 KARLZ KARZ CARL KAY 100 00 09 ADJ 0090 KARLZ KARZ CARL KAY 100 00 09 PMT 0421 QUICKCAR WASH WE RE IT AGENCY 99 00 01 MAR 91 TRANSACTIONS Find Print List Invoice Copies Change Month ESC Enter View Highlighted Item Your choices are Find Search for an item Print Prints transaction list or reprint copies of Invoices ChangeMonth Changes the display month Enter Move the cursor to highlight the desired item hit Enter and the detailed information of that item will be displayed If you get an Invoice on the screen Edit will load it into the Invoice Editor See Section 6 41 Natural Log User Manual Page 6 19 6 41 Edit Reissue Invoices INCORRECTLY ISSUED INVOICES Occasionally an invoice is issued incorrectly due to some type of entry error or missed communication The Natural Log system will not allow you to edit an issued invoice for accounting control reasons It will let you copy an invoice into an Invoice Editor correct it and reissue a new Invoice while voiding the old one CHANGING BROADCAST INFORMATION In Accounts Receivable get the desired Invoice on the screen using either Transactions or Customer Accounts and then hit Edit Any Invoice broadcast information can be changed in the same manner as Invoices can be edited before they are issued See Section 5 3 CHANGING ADDRESS SALESMAN OTHER INFORMATION You can also change addresses salesman assigned commissions etc b
3. Customer This prints statements sorted by Customer Number Sponsor Name or Bill To name Salesman This prints statements sorted by salesman number You may also elect to print statements for only a specified range of salesmen Zip Code This prints statements sorted by Zip Code for pre sorted mailings PRINT PROCEDURE During the statement printing the computer prints the statements one after the other without pausing This is done in Background mode so that you can continue to use the system while the printer runs In some cases you may run out of paper or have some other Printer Error If this happens the computer will stop and wait for you to clear the error Then you must restart the Statement printout In the event of Printer Error 1 Clear the error or problem with the printer 2 Turn the printer OFF and then ON to clear its memory 3 Hit ESC to return to the ACCOUNTS RECEIVABLE MENU 4 Restart the Statement printout by hitting S 5 After selecting the same type sort tell the computer to Restart with the last Customer Number correctly printed Natural Log User Manual Page 6 5 6 2 Statement Print cont You may print past due warnings on the statement with different text depending on the number of days past due See Section 2 2 Setup Format Statements DEMO FM RADIO 100 S NOWHE RE ROAD DEMO FM STATEMENT ACCOUNT 0043 SAN ANTONIO TX 78234 CALL YOUR ACC
4. Page 6 1 6 1 Customer Accounts This section of the Natural Log System allows you to view on the screen Accounts Receivable information for an individual customer You will see a alphabetized list of customers on which you highlight the requested customer and hit enter Sort J Sponsor j Rep Balance UP T NATIONAL BANK RKNOBS ENTS FOR THE HOUSE O FIREARMS AIR BAR amp GRILL HERE MOVERS TS EDUCATION UDIO IDEAS EBALL CARD T ER MILLS R MEDICAL BLACKS S RESI PLACE OON CLUB ROBERT S PRINT HOLE ENRIDGE GOLF TREE INN R US E GOLF INN ENCY QAQWWWDNWDWPWUOWsarrprp DB BPENMBARPRPRPRPRPRPRPRPRPEPE BW CUSTOMER ACCOUNTS fT Sort Find Enter Retrieve Ctrl Delete ESC At this screen your choices are LT Move the highlighted cursor to another customer Sort Resort list by Sponsor Name Bill to Name or Acct Rep Find Quickly finds a customer after you enter the first few letters of the Sponsor or Bill To Name based on the current sort Enter Retrieve and display the currently highlighted customer file Ctrl Delete Deletes customer if there are no active Orders amp no active Accounts Receivable records The account must say None Open when you vi9ew the Accounts Receivable screen
5. be automatically applied on a first come basis as a credit on ANY invoice issued by the Billing Module for this customer continued next page Natural Log User Manual Page 6 15 6 33 Handling PrePayments con APPLYING PREPAYMENTS USING ADJUSTING ENTRY After you have generated an invoice for a customer which has an unused unassigned Prepayment or an incorrectly assigned Prepayment you must make an adjusting entry to apply the prepayment to a specific Invoice Otherwise you will have a credit entry for the customer and an Invoice showing as being owed for the same customer The system will never automatically apply the Prepayment because you didn t assign it to any particular Order or to the wrong order and the system has no way of knowing which invoice a prepayment applies to To make this adjustment you go into New Payments and instead of entering a check enter ADJ This tells the computer that you want to make an adjustment The Prepayment is applied on one Adjusting entry using 2 steps 1 On line 1 when the computer asks you for the Code you will enter PRE Then you will enter the Reference number of the Prepayment The computer will display the prepayment on the bottom half of the screen You will then enter as a minus amount the Prepayment amount you want to apply to the Invoice This is the amount of the prepayment which will be deducted from the prepayment credit balance 2 On line 2 you will enter PRE to apply pre
6. can use the Other column to credit CR the invoice for 50 and enter a Transaction Type of DISCOUNT TAKEN This would then show up on the invoice summary as the original 1000 sale with a 950 payment and 50 Other Credit for a balance remaining of zero APPLY PMT This column will only be used if the Code is PMT or PRE The computer will print in this column the remaining payment which has not yet been applied on previous lines You can enter this amount by hitting Enter or enter any amount up to this remaining unapplied balance PROCESSING PAYMENT ADJUSTMENT ENTRIES After you have entered and verified Payment or Adjustment information the Payment or Adjustment must be posted to the customer accounts This is done by selecting Process at the PAYMENT MENU After you select Process the computer will check to be sure that the Payment Balances applied paid If not you won t be allowed to Process this payment until is corrected unless force the system to process anyway The computer Processes the Payment one line at a time and posts all information to Accounts and Invoices As each line is processed will appear next to the line number Notice Payments or adjustments will not be reflected on the customer accounts until they are Processed After you Process a Payment or Adjustment it may no longer be edited Any corrections will have to be done using an adjusting entry after you process any payment TRANSACTION REFEREN
7. 3 Payment Adjustment Entry con Payment Entry Screen PMT Not Posted Code INV or CUST Transaction Type Other Payments Pmt Date T 90 12 032 Payment Ck 0234 122 00 02 06 91 T 90 11 034 Payment Ck 0234 100 00 Check 0234 Payment Amount 222 00 ABC DOORKNOBS E amp HOWE Sponsor Transaction Type Other Payments Balance 11 31 90 11 31 90 02 06 91 Unposted Unprocessed Payment PAYMENT ENTRY OVERVIEW the Payment Screen is divided into two major parts The top half of the screen allows you to enter the payments and the bottom half is for display of Invoice and Account information for verification so you ll know where you are posting items You can apply the total payment or any portion of it to Invoice s or to a Prepayment for a customer Nine lines are provided for applying each payment to allow you to apply a single payment to more than one Invoice or Prepayment This is helpful if a customer pays several invoices with one check Each separate check requires its own Payment Screen ADJUSTMENT ENTRY You may also enter adjustments additions or subtractions from open invoices using this Payment Screen You may enter these adjustments at the same time as you enter payments For example if a customer takes a discount you can enter the payment and the discount on one Payment Screen using 2 lines to zero out the invoice balance You may also enter adjustments by t
8. CE NUMBER After Processing is complete this Payment will be assigned a Reference Number and may be Retrieved at anytime in the future for verification It may not be edited after posting If you need to correct an error create a New Payment and enter an adjustment to the Account or Invoice involved Page 6 12 Natural Log User Manual 6 32 Correcting Payment Adjustment Errors After Processin After Transactions are Processed they can t be edited However they can be corrected by reversing or canceling the original entry and reentering the correct data Payment Error Example You have incorrectly posted a 100 payment to Invoice 91 09 102 but it should have been posted to Invoice 91 01 201 You need to reverse this entry and then make the correct entry so all of your reports will be correct This reversal is done by entering a new payment with the same check number posted to the incorrect Invoice with a negative amount PMT Not Posted Code INV or CUST Transaction Type Other Payments Pmt Date PMT 91 09 102 Correct Error 03 06 91 Check 12345 Payment Amount 100 00 Ao BWNE EIR TITE amp HOWE Sponsor ABC DOORKNOBS Transaction Type Other Payments Balance After Processing there are 2 payments entered one for 100 and one for 100 which zero out on collections and A R reports This cancels or reverses the original incorrect entry You may then re enter the correct payment as show
9. Chapter 6 Accounts Receivable Payments amp Adjustments The Accounts Receivable functions allow you to check customer account balances print statements process payments amp adjustments look up and reprint invoices and other transactions Your choices at the ACCOUNTS RECEIVABLE MENU are Customer Account View Balances History Print Statement Statement Print Batch Print Customer Statements Payment Entry Enter Payments amp Adjustments Transactions View Reprint Edit Invoices Payments Adjustments Finance Chrg Compute amp Post New Finance Charges Due Customer Account View a customer account screen All open invoices for the customer will be listed A statement for this customer may be printed at this screen You can also look up the customer s prior invoices payments and adjustments using the History function See Sec 6 1 Statement Print Generates and prints statements for all or selected customer accounts Statements show all unpaid invoices for these customers See Section 6 2 Payment Entry Allows you to enter payments and adjustments on customer accounts See Section 6 3 Transactions Allows you to get an on screen list of all transactions for a period You can also view transaction details and reprint Invoices if needed See Section 6 4 Finance Charges This allows you to force finance charges to be computed and posted to accounts anytime you choose See Section 6 5 Natural Log User Manual
10. OUNT REP TODAY FOR OUR SPRING SPECIALS TO WEIR TITE amp HOWE 223 BANKERS BLVD NEW YORK NY 10010 SPONSOR ABC DOORKNOBS Listing of Activity on this Account Through 02 01 91 CUSTOMER AMOUNT CURRENT DATE REFERENCE POs TRANSACTION BILLED BALANCE 10 31 90 90 11 20 90 90 11 30 90 90 12 31 90 90 10 023 ESTIMATE 004 DEMO FM OCT90 Advrtsng 240 00 1 11 002 8 Brdcsts ABC DOORKNO Payment Ck 02345 240 00 0 00 11 110 ESTIMATE 004 DEMO FM NOV90 Advrtsng 240 00 240 00 18 Brdcsts ABC DOORKNO 12 098 ESTIMATE 005 DEMO FM DEC90 Advrstng 480 00 480 00 YOUR ACCOU PL 36 Brdcests ABC STORM D T IS MORE THAN 60 DAYS PAST DU pa EASE MAIL PAYMENT UPON RECEIPT PLEASE PAY THIS AMOUNT 720 00 ACCOUNT SUMMARY 121 DAYS 91 120 DAYS 61 90 DAYS 31 60 DAYS CURRENT 0 00 0 00 240 00 480 00 0 00 Page 6 6 Natural Log User Manual 6 3 Payment Adjustment Entry ACCOUNTING METHOD The accounts receivable function of the Natural Log System uses an Open Invoice method of accounting That is it keeps a record of all unpaid Invoices for each customer until the invoice is paid For this reason payments need to be applied to Invoices The Payments function is the means to enter these payments and apply them to the Invoices Th
11. When you select History for the displayed customer you are given the option to specify the time period to be searched The system will find all transactions for this customer during that period and display a list on screen For Invoices the History lists the original billed amount and the amount still due For Payments and Adjustments the History lists the check number the Invoice to which it was posted Re and the amount The detailed information for any of these items may be displayed by hitting Enter when that item is highlighted Billed Pmt Adjst Due OBS 90 01 010 DOORS 90 02 450 OBS DOORS 90 03 101 90 03 102 HHDDHHDHDH DGOVVUUVOVY He Heo ho ww TRANSACTION HISTORY Print Enter select item to view ESC Your choices at the HISTORY MENU are We Move and highlight another item Print Print a list of these transactions Enter Select the highlighted item to be viewed on screen When displayed invoices may be reprinted if needed Page 6 4 Natural Log User Manual 6 2 Statement Print This function allows you to print statements for some or all your customers If you just need statements for a few customers it is easier to view their accounts on screen and print individual statements from that screen rather than use this batch print section STATEMENT SORT You may select the sorting procedure
12. ce First deduct the Prepayment amount from the incorrect Invoice 91 05 777 Then assign it to the correct invoice 91 06 777 PMT 91 04 023 Pmt Date E 91 05 777 Transfer Prepayment 03 06 91 F 91 06 777 Transfer prepayment Check ADJUSTMENT Payment Amount Code INV or CUST Transaction Type Other Payments 500 00 500 00 ABC DOORKNOBS Sponsor EIR TITI Transaction Type Other Payments Balance EXAMPLE Prepayment was REFUNDED because it was never used Suppose you posted a 500 Prepayment to account 0043 which was assigned a reference number of 91 04 022 but the customer didn t run the advertising and you refunded the money Enter an Adjusting Entry to deduct the amount from the Prepayment Then Process and when Natural Log warns you of an unbalanced transaction tell it to process it anyway This cancels the Prepayment and a 500 adjusting entry will be shown on the end of month adjustments report PMT 91 04 023 Pmt Date 03 06 91 Check ADJUSTMENT Payment Amount Code INV or CUST Transaction Type Other Payments 91 04 022 Refund Prepayment 500 00 ABC DOORKNOBS Sponsor EIR TITI Transaction Type Other Payments Balance Page 6 18 Natural Log User Manual 6 4 View Reprint Transactions The Transaction function allows you to look up any Invoice Payment or Adjust
13. e Payments function also allows you to enter any adjustments to invoices credits or debits and to record Pre Payments to customer accounts NOTE Open Invoice accounting requiers you to post Payments to a specific Invoice When there is no Invoice issued as when someone Pre pays you must set up a Prepayment for that customer s account See Section 6 33 PAYMENT amp ADJUSTMENT ENTRY The Payments section allows you to process payments and adjustments to customer Accounts Receivable At the ACCOUNTS RECEIVABLE MENU select Payments and the PAYMENT MENU will appear Your choices are New Enter a new payment or adjustment See Section 6 31 Retrieve This allows you to retrieve an existing payment or adjustment Edit This allows you to edit the currently displayed payment or adjustment entry Payments may not be edited after Processing See Section 6 32 Process This choice processes posts the payment to the customer account New payments are not shown on customer accounts until they are processed This allows you to correct any errors before processing If you detect an error after processing you must make adjusting entries Payments may not be edited after processing Sec 6 33 On the following page is a general description of the information shown on the Natural Log Payment screen and the basic procedure for entering payments into the system For more detailed information see Section 6 31 Natural Log User Manual Page 6 7 6
14. e the type of transaction Possible choices are PMT To apply a payment to decrease a customer s account balance ACM Record Agency Commission if deducted from Invoice Payment RCM Record National Rep Commission if deducted from Invoice Payment BAD To write off a bad debt to decrease a customer s account balance PRE To record a prepayment on a customer account For an Adjusting entry this may also be used to apply a previous prepayment to an invoice See Section 6 33 for a discussion of Prepayments Other credits to decrease a customer s account balance Q Ps Other debits to increase a customer s account balance IZ Pa Trade credit O Ps a zZ Finance charges paid k Taxes paid lt O S Use this to void an Invoice which was incorrectly issued Page 6 10 Natural Log User Manual 6 31 New Payment Adjustment Entry INV or CUST Here you must enter a valid Invoice number for which the payment or adjustment is to be applied When the Invoice number is entered the computer will retrieve that Invoice and display the invoice summary information on the bottom half of the screen for verification The only exception is when entering a Prepayment the system will ask for the Customer Account number By definition no Invoice has yet been issued on a Prepayment See Section 6 33 for discussion of Prepayments If you don t know the Invoice Number In this case you can get an on screen listing of ope
15. enter the invoice number so you can know how much Finance Charges need to be canceled Instead you could post the finance charges adjustment as a separate adjusting entry but it s often easier to enter it with the payment as shown PMT 91 04 023 Pmt Date 91 05 777 Payment Ck 12345 03 06 91 91 05 777 Cancel Finance Chrg Check 12345 Payment Amount 100 00 Code INV or CUST Transaction Type Other Payments 100 00 EIR TITE amp HOWE Sponsor ABC DOORKNOBS Transaction Type Other Payments Balance Page 6 22 Natural Log User Manual
16. g PrePayments WHEN CUSTOMERS PAY IN ADVANCE Because Natural Log uses an Open Invoice accounts receivable system all payments must be credited to an Invoice Many times customers pay in advance particularly political advertisers Obviously you don t have an Invoice to post the payment against PREPAYMENT ENTRY The Natural Log System allows you to enter these payments received before an Invoice is generated as Prepayments When asked to enter the Code to describe the Payment or Adjustment See Section 6 31 you will enter PRE Instead of applying this against an open Invoice the system generates a Credit entry against the customer s account which will show up on any accounts receivable report you generate PMT Not Posted Code INV or CUST Transaction Type Other Payments Pmt Date E Acct 0043 Prepayment on acct 500 00 03 06 91 Check 00090 Payment Amount 500 00 ABC DOORKNOBS EIR TIT E amp HOWE Sponsor Transaction Type Other Payments Balance AUTOMATIC ASSIGNING OF PREPAYMENTS TO INVOICES When you enter a new prepayment you may specify which Pending Order the prepayment is to be applied against NOTE If you do enter an order the Billing system will automatically apply this prepayment ONLY against invoices for this order when the invoices are generated PREPAYMENTS WHICH ARE NOT ASSIGNED TO AN ORDER If you don t enter an order this prepaid credit will
17. hemselves on a Payment Screen with no payment if needed PROCESSING You must Process the item for it to be posted to Accounts receivable otherwise it will be suspended and saved if you exit by hitting ESC before Processing the payment The next time you go to start a New payment the suspended item will be recalled and displayed You will be given the option to continue working with it or discard it and start over After Processing you may view the Payments Adjustments and Invoices in the Transaction section described in Section 6 4 Page 6 8 Natural Log User Manual 6 31 New Payment Adjustment Entry ENTERING A NEW PAYMENT OR ADJUSTMENT You may enter New Payments or adjustments by selecting New at the PAYMENT ADJUSTMENT MENU The computer will then create a temporary file to hold your payment information until it is processed If you attempt to create a new payment while a temporary file still exists from an earlier payment entry that hasn t been processed the computer will beep display the existing unprocessed payment and ask you to select one of the following Keep Do not erase this file continue working with this payment You can then Edit and Process it Discard Erase the existing unprocessed Payment and start a New Payment If you Discard the old unprocessed payment or if there is no existing unprocessed payment you will be asked to enter new payment information on the form shown on the following page When en
18. ment which was entered in the Natural Log System You can also edit Invoices to make corrections Actually these old Invoices are canceled and then used as the basis for editing and re issuing an Invoice TRANSACTIONS are saved in the Natural Log database for 5 years When you enter this section by hitting Transactions at the ACCOUNTS RECEIVABLE MENU you will be asked for which month you want to scan Transactions Enter month year You will then see a listing of all transactions for that month Sponsor Name Bill To Name Amount Rep P 0043 ABC DOORKNOBS WIER TITE amp HOWE 500 00 00 P 0345 FLY BY NIGHT AI CRASH amp BURN AGENCY 1000 00 03 VOID 0123 NS FAT FARMS S FAT FARMS 500 00 01 ADJ 0123 NS FAT FARM S FAT FARMS 500 00 01 INV 0331 HIGH VALLEY ELE HIGH VALLEY ELEC COOP 950 00 02 INV 0446 RED BEAK IN RED BEAK INN 125 00 05 ADJ 0290 RECKUM DRIVING RECKUM DRIVING SCHOOL 100 00 00 ADJ 0390 BLUE POOL SERVI BLUE S AGENCY 100 00 01 PMT 0512 SW TEXAS WATER SW TEXAS WATER SYSTEM 333 00 00 P 0512 SW TEXAS WATER SW TEXAS WATER SYSTEM 500 0000 PMT 0512 SW TEXAS WATER SW TEXAS WATER SYSTEM 100 00 00 ADJ 0512 SW TEXAS WATER SW TEXAS WATER SYSTEM 50 00 00 PMT O210 CENTEX AIR
19. mount including the finance charges In this case just post the entire payment to the invoice as Natural Log already increased the invoice balance by the finance charges posted through that date WARNING If you pay sales commissions based on Collections Reports the entire amount posted as PMT will be commissionable on the Collection Report including the amount that was finance charge If this is unacceptable post the payment as 2 lines one as PMT for the amount of the original invoice Then post a second line as PMT for the amount of the finance charges BUT when asked for the commission on the PMT enter 0 The finance charge portion of the payment WON T be commissionable to the salesman 2 The customer makes a partial payment Just post the amount actually paid to the invoice The system will then use the new unpaid balance to compute future finance charges 3 Then customer pays the original invoice principal amount but refuses to pay the finance charges In this case you will need to post an adjusting entry See example below IF you want to forgive the finance charges If you want to leave them pending on his account you need to do NOTHING EXAMPLE Customer paid the 100 originally billed but won t pay the 3 00 posted as Finance Charges You can post the 100 payment along with the 3 00 adjustment to the finance charges as shown below The Finance Charge amount will be displayed in the bottom half of the screen after you
20. n below PMT Not Posted Code INV or CUST Transaction Type Other Payments Pmt Date PMT 91 09 201 Payment Ck 12345 03 06 91 Check 12345 Payment Amount 100 00 EIR TIT Sponsor ABC DOORKNOBS Transaction Type Other Payments Balance Natural Log User Manual Page 6 13 6 32 Correcting Payment Adjustment Errors After Processin After Transactions are Processed they can t be edited However they can be corrected by reversing or canceling the original entry and reentering the correct data Adjustment Error Example You have incorrectly posted a 100 credit to Invoice 91 09 102 but it should have been posted to Invoice 91 01 201 You need to reverse this entry and then make the correct entry so all of your reports will be correct This reversal is done by entering a single Adjustment Code INV or CUST Transaction Type Other Payments Pmt Date 91 09 102 Debit A R 03 06 91 91 09 201 Credit A R Check ADJUSTMENT Payment Amount EIR TITE amp HOWE Sponsor ABC DOORKNOBS Transaction Type Other Payments Balance After Processing Line 1 of the above entry will reverse the original credit CR to Invoice 91 09 102 by posting a debit DR Note DR s are positive as they increase the A R balance Line 2 posts a credit CR to the correct Invoice 91 09 201 Note CR s are negative as they decrease the A R balance Page 6 14 Natural Log User Manual 6 33 Handlin
21. n invoices for a customer by hitting F6 instead of entering an invoice number The computer will then allow you to enter the customer number or name If you enter a customer number the computer will display all open Invoices for that customer and then again request an INV or CUST If you enter a name the computer will stop and display all open Invoices for any customer matching with the NAME you requested It will then pause and wait for you to continue the search by hitting SPACE or if you found the customer you were looking for hit ESC to quit the search The computer will then once again ask for you to enter the Invoice number TRANSACTION TYPE _ This allows you to enter a description of the transaction For payments the default description is PMT Ck Another choice might be BAD DEBT WRITE OFF You may enter any description you like The description will be entered on the invoice summary to which this payment or adjustment applies Natural Log User Manual Page 6 11 6 31 New Payment Adjustment Entry OTHER This column is skipped if you entered the PMT code or the PRE code For all other codes this column allows you to increase or decrease a customer account For example suppose an advertiser has taken some type of discount of 50 when he paid his bill for 1000 in advertising You can enter the payment on the first line as PMT of 950 However since the invoice is for 1000 he still has a balance of 50 You
22. out PMT 91 04 023 Pmt Date 03 06 91 Check 92833 Payment Amount 500 00 Code INV or CUST Transaction Type Other Payments Acct 0043 Prepaid On Acct 500 00 EIR TIT E amp HOWE Sponsor ABC DOORKNOBS Transaction Type Other Payments Balance After Processing this Prepayment 91 04 023 500 is created to offset Prepayment 91 04 022 500 Enter check ADJ to enter an Adjusting entry to zero the 2 Prepayments against each other Subtract 500 from 91 04 22 and add 500 to 91 04 023 zeroing each with a net A R effect of zero PMT 91 04 024 Code INV or CUST Transaction Type Other Payments Pmt Date E 91 04 022 Correct Prepayment 500 00 03 06 91 E 91 04 023 Correct Prepayment Check ADJUSTMENT Payment Amount 500 00 EIR TIT E amp HOWE Sponsor ABC DOORKNOBS Transaction Type Other Payments Balance You can then proceed to enter the correct Prepayment as usual Natural Log User Manual Page 6 17 6 33 Correcting PrePayments After Processin EXAMPLE Prepayment was assigned to incorrect Invoice Suppose you posted a 500 Prepayment to account 0043 which was assigned a reference number of 91 04 022 It was automatically assigned to an incorrect Invoice or you assigned it to an incorrect Invoice using Adjustment entries Enter an Adjusting Entry to transfer the amount to the correct Invoi
23. payment and the Invoice number to be credited After entering this number the computer will show the current invoice information at the bottom of the screen You may enter any kind of description that you like we recommend apply prepmt to create an audit trail You then enter as a plus amount the amount to be credited against the invoice bal ance Code INV or CUST Transaction Type Other Payments Pmt Date E 91 03 356 Deduct Prepayment 04 01 91 E 91 03 556 Apply Prepayemnt Check ADJUSTMENT Payment Amount 500 00 EIR TIT ABC DOORKNOBS E amp HOWE Sponsor Transaction Type Other Payments Balance PROCESSING After you are sure the Adjustment is correctly entered be sure to Process it so that it will be posted to the account Page 6 16 Natural Log User Manual 6 33 Correcting PrePayments After Processin After Prepayment Transactions are Processed they can t be edited However they can be corrected by reversing or canceling the original entry and reentering the correct data EXAMPLE Prepayment posted to incorrect account Suppose you posted a 500 Prepayment to account 0043 that should have been posted to account 0034 The incorrect Prepayment was assigned a reference number of 91 04 022 You first need to make a reversing entry using negative amounts This zeroes out the collections report and A R 500 and 500 zero each other
24. sks for the date through which finance charges are to be posted This must be within the currently open billing month The system then asks if you want a printed list of finance charges posted FINANCE CHARGE COMPUTATION METHODOLOGY Natural Log computes and posts finance charges through the date you specify for any customers for which you entered a Late Fee percentage The system adds this percentage per month to every invoice outstanding over 1 month Example Invoice 97 03 131 was issued on March 31 1997 On April 30 Natural Log will add one month s finance charges to the principal balance as of April 30 On May 31 it will add another month s finance charges and so on FINANCE CHARGES NOT COMPOUNDED Natural Log does NOT compute compound finance charges but computes the Finance Charges on the invoice principal amount as some states do not allow compounding In the above example If the finance charge rate was 1 5 per month and the original invoice balance was 100 on April 30 Natural Log would add 1 50 On May 31 it would add 1 50 1 5 x 100 Note it did NOT charge May finance charges on the 1 50 finance charge added for April POSTING PAYMENTS WITH ACCRUED FINANCE CHARGES When a customer pays an invoice which has accrued finance charges there are 3 possibilities see next page Natural Log User Manual Page 6 21 6 5 Finance Charges ony POSTING FINANCE CHARGES Possible scenarios 1 The customer pays the full a
25. tering a new payment you can leave the payment unprocessed by hitting ESC go to another section of the system and return to the payment later It will be saved until processed or discarded REQUIRED PAYMENT INFORMATION The following information is needed to enter a New payment CHECK This will usually be the Check used to make the payment It will show up on invoices paid with this payment entry If it is a cash payment enter Cash If this is an Adjustment then type in ADJ You may also leave this blank if you want PAYMENT AMOUNT Enter the total amount paid by this Check This is skipped for Adjustments The remaining line entries allow you to apply the payment adjustment to any open invoices You may also make adjustments to accounts or invoices on these lines or enter Pre Payments to customer accounts This multiple line format for payments allows you to record payments received for several invoices for which the customer issued only one check See the next page Natural Log User Manual Page 6 9 6 31 New Payment Adjustment Ent PMT Not Posted Code INV or CUST Transaction Type Other Payments Pmt Date AB 90 12 032 Payment Ck 0234 02 06 91 T 90 11 034 Payment Ck 0234 Check 0234 Payment Amount 222 00 100 00 Sponsor ABC DOORKNOBS Transaction Type Other Payments Balance 02 06 91 P Unposted Unprocessed Payment CODE Enter a Code to describ
26. y hitting the F10 key in the editor REISSUE THE INVOICE The Invoice must be reissued for any changes to take effect Note that it will have a New Invoice number To reissue the invoice select P rint F inal which will print a corrected invoice save the changes and void the old invoice Failure to reissue the Invoice will result in the old information staying in Accounts Receivable You can also select P rint C hargeOnly to save the invoice changes and void the old invoice but NOT print an new invoice VOIDING AN INVOICE If an invoice needs to completely voided off a customer s account so it will not show up on any statement of account go into Payments New Enter ADJ for the check numner to designate that this is an Adjusting entry Then enter VOID for the payment code and enter the invoice reference number of the invoice to be voided Then Process the adjustment This will void and remove any invoice s which are designated on this screen as VOID Page 6 20 Natural Log User Manual 6 5 Finance Charges COMPUTING amp POSTING FINANCE CHARGES Natural Log can compute and post Finance Charges or late fees to accounts This is done from the Accounts Receivable menu by choosing Finance Charges Natural Log will ask you to verify the Revenue Types for which finance charges are to be computed This allows you to exclude Trade or other revenue types which should not accrue finance charges FINANCE CHARGE POSTING DATE Natural Log then a
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