AR Account Code Definition

Overview

AR Account Code Definition enables definition of accounts receivable account distribution offset groups. AR control codes are used during accounts receivable posting to distribute the account offsets for accounts receivable and discounts taken. During invoice entry the revenue distributions are entered on an invoice whereas accounts receivable trade account offset is generated automatically based on the AR code assigned to the invoice. Additionally, a "Project" default may be specified to ensure AR offset distributions are tracked to the specified project. This can be important when all control accounts must be recorded in a project in order to maintain a balanced project subledger (that is, when all general ledger account numbers have been marked as project required).

Entry tips

Type "?" in a promptable line edit and Press TAB to view and/or select a code value. Click on the desired code in the related selection display to select the code value.

Processing

Type a new control code name value to define a new AR code. Enter the ledger to which the new code is to be assigned and a short description of the code. Enter all gl account numbers on the display. Enter a Project restriction if needed - i.e. when the accounts receivable control account has been set to project required status. Click "Save" to validate and save your changes.

Prompt for an existing AR code via "?". Modify record as needed and click "Save" to save. Delete the currently selected AR code via "Delete" button.

AR codes work in conjunction with bank definitions to complete general ledger account distribution in the accounts receivable system. Cash and asset (receivable) account mappings are obtained from bank and AR code definitions while revenue accounts are specified via invoice processing.

ActionDistributionDebitCreditSource
AR Invoice entryAccounts ReceivableXXAR Code- Accounts Receivable account
AR Invoice entryRevenueXXInvoice entry revenue account distibution
          
Cash receiptCash accountXXBank Account Definition - Cash account
Cash receiptUnapplied Cash accountXXBank Account Definition - Unapplied cash
          

Field descriptions

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