This chapter contains these topics:
To create credit note reimbursements
To use "as of" reports to review transactions as of a specific date
To use integrity reports to locate potential balancing problems and data inconsistencies
Period-end processing refers to tasks that you complete at the end of an accounts receivable period. You normally complete these tasks on a periodic, quarterly, or yearly basis. You can also complete them while setting up your Accounts Receivable system.
Period-end processing consists of:
Working with credit note reimbursements
Processing "as of" reports
Processing A/R integrity reports
The following describes the features of period-end processing.
|Credit note reimbursements||Use credit note reimbursements to reclassify a credit memo or unapplied receipt to an open voucher in the Accounts Payable system. For example, you can reimburse customers for overpayments and issue rebates.|
|"As of" reports||Use "as of" reports to view summary or detail A/R ledger information as of a specific date. For example, after the beginning of a fiscal year, you might want to review open A/R information as of the date of your year-end audit.
You can also use these reports as problem-solving tools. For example, use the Open A/R Details "as of" report to compare the A/R period-end balance to the general ledger account balance of your A/R trade (offset account).
|A/R integrity reports||Print A/R integrity reports to supplement your internal balancing procedures. These reports list potential balancing problems and data inconsistencies.
You should print these integrity reports at least once a week during the process of converting to new software or during a learning period for new users. Otherwise, print them on a periodic basis to resolve and correct errors in a timely manner.
Depending on your organization's needs, you might have additional period-end tasks to perform, such as:
Updating and printing finance charges
Printing and revising payment reminders
Printing delinquency notices
Printing statements and invoices