This chapter contains the topic:
From Accounts Receivable (G03), enter 27
From A/R Advanced and Technical Operations (G0331), choose Update Balance Forward
Summarize the open items in the A/R Ledger table (F0311) as of a specific date
Create a balance forward amount for a customer
When you run Update Balance Forward each period, the system creates a separate balance forward record for the following:
G/L bank account
If you update your balance forward records before processing your A/R statements, the system summarizes invoices from the previous period. Therefore, only the current period's activity is shown in detail and all previous periods' activity is shown as a single balance forward amount.
Every time you update the records, the system creates a new balance forward record that overwrites the existing record for the previous period.
Caution:Post all invoices before you run the Update Balance Forward program to ensure the system updates only one balance forward per period. Otherwise, when you rerun this program (for the same period), a new balance forward record is created for that period, rather than the existing balance forward record you are "adding to."
The following example shows information for customer 1001 before updating balance forward records:
The following example shows information for customer 1001 after updating balance forward records:
After you run Update Balance Forward, there is one summarized invoice (RW) in the A/R Ledger table. When you enter a receipt, you must apply it to the RW document, not to the individual invoices. You cannot make adjustments to a summarized invoice, for example, 1401, because the system considers it paid and posted.
Activate balance forward on Customer Master Information.
Post all invoices for the period to ensure that the system updates only one balance forward record per period. Otherwise, when you rerun this program (for the same period), the system creates a new balance forward record for that period rather than the existing record you are adding to.
|Multi-Currency||If your customer uses multiple currencies, the system calculates the currency exchange rate for the balance forward record by:
|Viewing balance forward records||You can view the summarized invoices that are included in the balance forward record on Standard Invoice Entry and Customer Ledger Inquiry. The open amount of each invoice is 0 (zero).
To view the invoice detail, activate the Paid field on Customer Ledger Inquiry. For parent companies that have invoices associated with several children, the system creates a separate balance forward record for each child.
|Determining the "as of" date and due date||The system uses the invoice date for the "as of" date as the cutoff for invoices that are included in the balance forward record.
The system uses the payment terms for the customer to calculate the due date for the balance forward amount.
See Section 117.3, "Balance Forward Update (P03501)" for more information.