Overview
This page sets the parameters that control the behavior of the Rootstock Accounts Receivable functions.
Prerequisites
Financial Company Master: The Financial Company Master must exist for the Company to which the given AR Control record is added.
GL Accounts (Chart of Accounts): Appropriate GL Accounts needed for AR functionality must exist, with the proper AR Account Type required for various fields.
Bank Accounts: At least one Bank Account must be used as the Accounts Receivable default for the given Financials Company.
Navigation
Financial System Admin > AR Control
Processing
AR Control record – add or edit
Key Fields
Header Section
Multiple Transactions per Session: When checked, multiple Receivable Transactions can be contained within a session. When unchecked, each Receivable Transaction is its own session (one-for-one).
Default Accounts Receivable Account: Default AR Account used when performing manual AR transactions within the given company. The dropdown is filtered only to display those GL Accounts where AR Account Type = Accounts Receivable.
NOTE When Rootstock Financials is active, the Sub-Ledger Account associated with this Default Accounts Receivable Account is used in Sales Invoice processing only when the AR Override Account is blank in the Customer Company.
Allow Discount When None is Available in: When checked, the user can specify a Discount Amount in Cash Receipts even if the Receivable Transaction is not eligible for a discount due to a zero discount percentage or an expired discount due date. When checked, the system automatically checks the flag 'Allow More Discount Than Available in CR'.
IMPORTANT This flag 'Allow Discount When None is Available in' only applies to CRATO transactions.
Allow More Discount Than Available in CR: When checked, the user can specify a Discount Amount in the Cash Receipts page in excess of the amount allowed. It does not apply where no discount is allowed. Entry of a higher amount drives an increase in the AR Txn discount percentage.
OK to Reverse Reconciled Cash Receipt: When checked, the system bypasses the validation that prevents the reversal of a Cash Receipt where the associated deposit (GL Bank Transaction) has been marked as Reconciled.
Default Bank Account Policy: How Bank Account is set on Receivable Transaction. If there is only 1 Bank Acct, set it to Constant so it is always used. If multiple Bank accounts are set to Default, they will default to the Default Bank Acct value or set to No Default, so the Bank has to be entered.
Default Bank Account: The Bank Account typically used for Accounts Receivable activity for this Financial Company.
Cash to GL Offset Acct Default: The account to be credited on Cash-to-GL transactions. See also Cash Receipts Cash to GL Policy. It cannot be set to Cash or Capital account (which are filtered out of dropdown).
Prevent Delete of Receivable Transaction: When checked, Receivable Transactions may not ever be deleted.
Default Discount Grace Period (Days): This field is the default Discount Grace Period value for the Deposit Entry page.
Suppress Auto-Select in Deposit Entry: This field removes the user's ability to automatically apply a customer payment to open AR Transactions in the Deposit Entry page.
Accounts Tab
Cash Receipt Write-Off / Up Account: Account to which write-off transactions are debited and write-up transactions are credited. AR Account Type must be ‘Write-off/Write-up’.
AR Foreign Exchange Gain Account: Used to book any currency gains from AR transactions. AR Account Type must be ‘Foreign Exchange Variance’.
AR Foreign Exchange Loss Account: Used to book any currency losses from AR transactions. AR Account Type must be ‘Foreign Exchange Variance’. The account would typically be the same as 'Cash Receipt Currency Gain Account', but that is not required.
Cash Receipt Curr Round Cash Offset Acct: When payment currency differs from bank currency and there is a home currency rounding difference between the two, the difference is posted to this account. AR Account Type must be ‘Cash Receipts Multi-currency Rounding’.
Cash Receipt Discounts Allowed Account: Used to book Cash Receipt discounts allowed. AR Account Type must be 'Cash Discounts Allowed’.
Bank Reconcile - Interest Income Acct: Used to book any Interest Income when doing Bank Reconciliation. AR Account Type must be 'Interest Income'.
Cash Receipts CC Pay Offset to AR Acct: Used as the default credit card clearing account for this Financial Company. AR Account Type must be 'Credit Card Clearing'.
Finance Charges Account: Used to post interest earned on finance charges. AR Account type must be ‘Finance Charge Interest Earned’.
Multi-Currency Payment Variance Account: Used to charge payment variances where multiple currencies are used. AR Account Type must be ‘Bank Payment Variance’ or ‘Bank Payment Variance - Foreign Currency’.
Single-Currency Payment Variance Account: Used to charge payment variances where a single currency is used. AR Account Type must be ‘Bank Payment Variance’.
Bank Reconcile - CC Processing Fee Acct: Used to book any credit card processing fee when doing Bank Reconciliation. AR Account Type must be 'Credit Card Processing Fee'.
Bank Reconcile - Interest Expense Acct: Used to book any Interest Expense when doing Bank Reconciliation. AR Account Type must be 'Interest Expense'.
Statements Tab
AR Statement Policy: Defines how the Customer Statements will be printed for this Company and may be overridden on the Customer Company record for individual Customers. Options are:
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No Statements Or Finance Charges - No Statements will be printed, and no Finance charges will be applied.
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Statements - But No Finance Charges Ever - Statements will be printed with no Finance Charges. It cannot be overridden at the individual customer level.
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Print Statements, No Finance Charges - Statements are to be printed, but no Finance Charges will be applied. Like Statements - But No Finance Charges Ever, but can be overridden at the individual customer level.
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Print Statements, Show Finance Charges, Do Not Book - Statements are to be printed. Finance Charges will be displayed on the statement but not charged / booked to the customer (i.e., no finance charge transaction will be created for late balances).
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Print Statements With Finance Charges And Book Them - Statements are to be printed, and Finance Charge transactions will be raised (as debit memos) for late balances.
Create Zero-Balance Statements: When checked, statements for zero-balance Customers are created.
Late-Balance, No Finance Charge Text: Text to be used on statements with a late balance but no finance charge.
Zero-Balance Statement Text: Text to be used on statements when the statement balance is zero.
Current-Balance Statement Text: Text used for statements showing non-zero but current balances.
AR Statement Period End Date: This field allows for the definition of the AR Statement Period, which by default is a calendar month. (Example: entering 25 here would be Jan 26 – Feb 25, Feb26 - Mar25, etc.)
Show Applied Transactions in Statement: This indicator is used to default the Customer Company field, where it causes transactions that are applied during the Statement Period to be shown on the Customer Statement.
Finance Charges Tab
Finance Charge on Balances This Late: The number of days late after which finance charges will be applied. This default can be overridden for a given Customer on the appropriate Customer Company record.
Finance Charge Monthly Percentage: The monthly finance charge percentage to be applied to late balances. This can also be overridden on the appropriate Customer Company record for a given Customer.
Finance Charge on Debit Memos: When checked, finance charges will be computed on Debit Memos. This "policy" can be overridden on the appropriate Customer Company record for a given Customer.
Finance Charge on Principal Only: When checked, finance charges only apply to the principal amount (not compounded).
Finance Charge Threshold: If a non-zero finance charge is computed that is less than this amount, there will be no finance charge to the Customer.
Finance Charge Minimum: If a non-zero finance charge is computed that is greater than the finance charge threshold but less than this amount, substitute this amount.
Finance Charge Debit Memo Text: Text to be used on Debit Memos for finance charges, up to 255 characters in length.
Show Finance Charge in Detail: When checked, the finance charge calculation will be shown on the statement.
Finance Charge Late Payment Trigger: Criteria used to trigger a finance charge against a past-due payment. Options are
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N/A (there is no finance charge)
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Must Be Past Due At Month Start
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Falls Due During The Month
Due in Month Proration Method: Defines how finance charges applied during a given month will be calculated. Options are
Partial Payment During Month Policy: Defines how partial payments received during the statement month will be handled. Options are
Minimum Finance Charge Statement Text: Text to be used when the minimum finance charge is applied, up to 110 characters in length.
Non-Min Finance Charge Statement Text: Text to be used when calculated Finance charge exceeds the Minimum Finance Charge (up to 110 characters in length).
Finance Charge Statement Text: If a non-zero finance charge is computed that is greater than the finance charge threshold but less than this amount, substitute this amount.
Write-Offs Tab
Maximum Write Off Amount: Write-off limit threshold for large-balance write-off policy.
Maximum Write Up Amount: Write-up limit threshold for large-balance write-up policy.
Form Templates Tab
Form Template for AR Memo Print: Template to be used as the default form template for AR Debit Memos.
Default Customer Statement Template: The Customer Statement that will be defaulted but can be overridden.
Default Ad Hoc Customer Statement Template: This field is the default Ad-Hoc Statement Template unless overridden on the Customer Company record for a given Customer and Financial Company.
SEE ALSO
Financial Company Master
GL Accounts (Chart of Accounts)
Bank Account
