You use the Adjustment Entry form to:
• Create new batches of adjustments to documents.
• Edit existing adjustment batches.
• Write off small overpayments when you adjust receipts.
• Adjust posted documents, including those that are fully paid.
You can also enter adjustments using the Receipt Entry form. However, you can edit those adjustments only in the Receipt Entry form. If you use retainage accounting, note that you can adjust retainage using the Adjustment Entry form, only.
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Creating or Selecting an Adjustment Batch
To add or edit adjustments using the Adjustment Entry form, choose the Adjustment Entry icon from the A/R Transactions folder, then create a new batch or select an existing batch. You can also click the New button on the Adjustments Batch List form to open the Adjustment Entry form and create a new batch.
To create a new adjustment batch:
These instructions start by choosing the Adjustment Entry icon from the A/R Transactions folder. If you started Adjustment Entry by clicking the New button on the Adjustment Batch List form, begin at step 2.
1. To create the batch, click the New button beside the Batch Number field. Accounts Receivable assigns a new batch number.
2. Type a description for the batch.
3. If you want to change the batch date, type over it or select a date using the calendar associated with the Batch Date field. (Click the arrow beside the field, display the required month, and then click the date you want to use for the range.) Accounts Receivable automatically displays the session date for new batches.
To open an existing batch, use one of these methods:
• Click the Finder next to the Batch Number field or press F5 when the cursor is in the field to list existing batches, and then choose the batch you want.
• Type the number of the batch you want to add to or edit.
• Click the navigation buttons near the Batch Number field to display the batch you need.
You can change all the header information for the batch except the batch number.
The Batch Information form displays additional information about the batch that is not included on the Adjustment Entry form, such as the batch status and whether the batch listing has been printed.
To view the adjustment Batch Information form:
• Click the Zoom button beside the Batch Number field.
Adding and Editing Adjustments
To add or edit an adjustment:
1. Create a new adjustment batch or select the existing batch you want to use, as described in the preceding section.
2. Use the Entry Number field to create a new entry or to select an existing one, as follows:
• To start a new entry, click the New button beside the Entry Number field.
• To select an existing entry for editing, click the Finder or press the F5 key, then choose the document from the Finder, or type the entry number.
3. Enter the adjustment or make changes, as follows:
• Enter an optional description for the entry.
• Enter the adjustment date.
• Enter the posting date. (The posting date determines the fiscal year and period to which the transaction is posted.)
• If you are adding a new entry, type the customer number or choose it from the Finder.
• Type an optional reference for the adjustment.
• Type the document number to which the adjustment applies, or choose the document from the Finder.
• If the selected document includes a multiple payment schedule, type the payment number you are adjusting.
4. Enter the distribution details:
• To adjust an existing detail from the posted document:
i. Click the first blank line on the detail‐ entry grid.
ii. Click the Adjust Line Number Finder, highlight the detail you want to change in the window that opens, and then click the Select button.
iii. Press the Tab key to display the detail information from the posted document.
• To add a new detail for the posted document:
i. Click the detail‐ entry grid, then press the Insert key on your keyboard to create an adjustment detail line.
ii. Enter a distribution code (or choose one from the Finder).
Skip the Distribution column, and type the general ledger account number for the detail. (If you use Sage Accpac General Ledger, you can use the Finder to select the account.)
• Enter a debit amount to reduce the balance of an invoice or a debit note, or a credit amount to increase the balance of these document types.
• If the selected document is job ‐ related, additional columns appear on the grid that let you add or adjust job ‐ related details. You can add a detail that did not exist on the original invoice, debit note, or credit note by specifying a particular contract, project, category, and (for a standard contract) resource.
• If you use retainage accounting, retainage columns appear on the grid (for documents posted using Accounts Receivable 5.4, or later). Use them to add or adjust retainage for each detail, as follows:
− To increase the retainage, enter the amount of retainage in the retainage debit field.
− To decrease the retainage, enter an amount in the retainage credit field.
− Enter the retainage due date.
If you are adding a new detail, note that the retainage document detail will inherit the Discountable status from the distribution code used in the detail. If you do not use a distribution code in the adjustment detail, the retainage detail will be discountable by default. If you posted the original document using a version earlier than Accounts Receivable 5.4, see step 6.
5. If you use optional fields, click the Optional Fields tab. Accounts Receivable assigns to the entry any adjustment optional fields set up for automatic insertion. You can add, delete, or change adjustment optional fields for the entry, as necessary.
6. If you are adjusting retainage, click the Retainage tab, then enter the retainage terms, and (if you use multicurrency) the retainage exchange rate. If you are adding or adjusting retainage for a document created with a version of Accounts Receivable earlier than version 5.4, also:
− Enter the amount by which to add or increase retainage in the Retainage Debit field.
− Enter the amount by which to decrease retainage in the Retainage Credit field.
If the selected document is job ‐ related, you add or adjust retainage for individual projects on the detail‐ entry grid, as described in step 4.
7. If you use multicurrency accounting and need to edit the exchange rate information for the adjustment, click the Rates tab.
Ordinarily, you enter adjustments at the same exchange rate as was used for the document being adjusted. The original rate is displayed as the default rate on the Rates tab.
If you post an adjustment at a different rate from the exchange rate used for the invoice or other document you are adjusting, a realized gain or loss transaction is created for the general ledger exchange gain or loss account. These entries determine the exchange rate at which the adjustment amount is converted to the customer’s currency.
9. Click Add to add the adjustment to the batch, or click Save to save your changes.
8. Make the changes you need in the Rate Type and Exchange Rate fields.
• Print the Batch Listing report. Make corrections, if needed, and then reprint the listing for each corrected batch. You must print batch listings before posting if you selected the Force Listing Of All Batches option on the Options form. Once the batches are correct, file the reports.
• Select the Ready To Post option for each batch in the Adjustment Batch List form. If you post each batch individually from the Adjustment Batch List form, you can set the Ready To Post option automatically by choosing Yes when prompted.
• Post the batches.
• If you post an adjustment that affects a bank account, make a similar adjustment to the bank in Bank Services. Accounts Receivable does not send adjustment information to Bank Services.