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11.2.2. Receivables Assignments

Receivables assignments represent the default General Ledger (G/L) Accounts used by the system when processing the following:

  • Invoices

  • Cash Receipts

  • Sales Order Credit Memos

  • Miscellaneous Receivables Credit Memos

  • Miscellaneous Receivables Debit Memos

The Account assignments are made by Customer Type. This means that transactions involving a Customer will follow the assignments established for the Customer Type—unless otherwise specified. To access the Receivables assignments master list, select the "Receivables Assignments" option. The following screen will appear:

Receivables Assignments Master List

The "Receivables Assignments" screen displays information on existing Receivables assignments.

11.2.2.1. Receivables Assignment

To create a new Receivables assignment, select the NEW button. The following screen will appear:

Create New Receivables Assignment

When creating a new Receivables assignment, you are presented with the following options:

Note

By default, the screen will limit your Account Number choices to only those Accounts having the correct Account Type for the chosen context. However, privileged users may override this default behavior by manually entering any Account Number listed in the Chart of Accounts.

Selected Customer Type

Specify the Customer Type you want to associate with the Receivables assignment.

Pattern

Enter a Customer Type pattern to select a range of Customer Types. Refine your search using Regular Expressions.

Receivables Account

Identify a General Ledger (G/L) Account to assign as the default Receivables. This is an Asset Account. For example, it will be debited when Invoices are posted and credited when Cash Receipts are posted.

Prepaid Receivables Account

Identify a General Ledger (G/L) Account to assign as the default Receivables Prepaid Account. This is a Revenue contra Account. It will be debited when Miscellaneous Receivables Credit Memos are posted and credited when Miscellaneous Receivables Debit Memos are posted.

Freight Account

Identify a General Ledger (G/L) Account to assign as the default Freight Account. This is a Revenue Account. It will be credited when Invoices are posted and debited when Sales Order Credit Memos are posted.

Deferred Revenue Account

Identify a General Ledger (G/L) Account to assign as the default Deferred Revenue Account. This is a Liability Account. It is an optional Account, as systems may be configured to ignore it when handling Customer Deposits. When this Account is used, it will be credited when unapplied Cash Receipts are posted and debited when the Receivables Credit Memos resulting from unapplied Cash Receipts are applied to open Receivables.

Note

You can disable the use of a Deferred Revenue Account for handling Customer Deposits at the system level.

Discount Account

Identify a General Ledger (G/L) Account to assign as the default Receivables Discount Account. This is a Revenue Account. It will be debited when Cash Receipts are posted and the Invoice the Cash Receipt is applied to is still within its discount Terms.