Create a Bills Receivable Creation Receipt Method

Create bills receivable creation receipt methods to create bills receivable from transactions automatically using the Create Bills Receivable Batch process.

The receipt method designates the transaction type, maturity date, bill number, and if necessary the minimum and maximum bill amounts, and determines how transactions are grouped into bills receivable.

After you create bills receivable creation receipt methods, you must assign both a bills receivable creation receipt method and a bill-to customer defined as drawee to transactions that you want to automatically batch for bills receivable.

To create a new bills receivable creation receipt method:

1. Navigate to the Create Receipt Class and Methods page.

2. Name the receipt class and, in the Creation Method field, select Bills Receivable.

3. Create a receipt method.

4. Navigate to the Bills Receivable tab.

5. If applicable, enable the Bills receivable inherit transaction numbers option to use the transaction number as the bill number.

   This only applies if there is one transaction in the bill receivable. If the bill receivable contains more than one transaction, then Receivables assigns the bill number according to the settings in the bills receivable transaction source.

6. In the Number of Bills Receivable Rule field, select the rule to use to group transactions into bills receivable:

   1. One per Customer: Group all transactions belonging to a single customer drawee into one bill receivable.

   2. One per Customer Due Date: Group all transactions belonging to a single customer drawee that have the same payment schedule due date into one bill receivable.

      If a transaction uses the payment terms Immediate, then this transaction is included in the first available bill receivable that can accommodate the transaction amount, without regard to the due date. In this case the effective grouping rule is the same as One per Customer.

   3. One per Invoice: Group all payment schedules for a single transaction into one bill receivable.

   4. One per Payment Schedule: Create a separate bill receivable for each transaction payment schedule (no grouping).

   5. One per Site: Group all transactions for a single customer drawee site into one bill receivable.

   6. One per Site Due Date: Group all transactions for a single customer drawee and bill-to site that have the same payment schedule due date into one bill receivable.

      If a transaction uses the payment terms Immediate, then this transaction is included in the first available bill receivable that can accommodate the transaction amount, without regard to the due date. In this case the effective grouping rule is the same as One per Site.

7. In the Bills Receivable Maturity Date Rule field, select Earliest or Latest to indicate whether to derive the maturity date for a bill receivable from the earliest or latest due date of all transactions applied to the bill.

8. Enter the bills receivable transaction type to use with this receipt method. All bills receivable created from transactions use the settings of this transaction type.

9. In the Lead Days field, enter the number of days before the transaction due date that a transaction can be applied to a bill receivable.

10. Use the Minimum Amount and Maximum Amount fields to enter minimum and maximum amounts for bills receivable created from transactions.

    • If you enter a minimum amount, then a bill receivable isn't created for the applicable transactions unless their sum is greater than this amount.

    • If you enter a maximum amount, then the total amount of the bill receivable must match this amount exactly.

      After applying a transaction to a bill receivable, a partial transaction amount that exceeds the maximum amount of the bill can remain unapplied. For example, an invoice of $1000 applied to a bill receivable with a maximum amount of $900 leaves an open amount of $100 on the transaction.