A/R Clearing File
This window titled Initial Setup of A/R Clearing Account Warning tells the user that this Initial Setup option should be used to set up initial entries in the A/R Clearing File for NEW installations only. This option is used to set up the amounts in the A/R Clearing Account which currently exist in the general ledger balance in your A/R Clearing Account. If your previous accounting system did not have an A/R Clearing Account or if there is no balance in your A/R Clearing Account, then no set up is required.
Payments received which are equal to the amount due on any accounts receivable file can be applied directly to that accounts receivable file by the Bank Account Manager without using the A/R Clearing Account. However, you may occasionally receive a payment which cannot or should not be immediately posted to an accounts receivable file. In the IBS System, the A/R Clearing Account is used as a "holding" account for this type of payment. For instance, payments from the Van Line or quarterly Military Storage payments should be recorded as a deposit in the Bank Account Manager module but applied to the A/R Clearing Account. Van Line payments and quarterly Military Storage payments contain payments for multiple accounts receivable files and some of those files may need to be adjusted based on the payment you receive. Deposits posted to the A/R Clearing Account can be applied to the appropriate accounts receivable files at a later date through a process called Apply Cash to A/R which will also allow you to adjust the accounts receivable file as you are applying the payment received. The Apply Cash to A/R process will allow the user to simultaneously apply payments to A/R accounts, make adjustments to A/R accounts, and apply cash directly to a general ledger account when such cash is not related to an A/R account (e.g., charge backs from your Van Line).
IMPORTANT NOTE: This program does NOT post any financial transactions to the general ledger. It posts only to the Accounts Receivable Clearing File. Therefore, this A/R Initial Setup program should only be used by new IBS users to input their initial set up amounts when converting to the IBS System. This A/R Initial Setup program should not be used in any other instance unless you are instructed to do so by a member of Direct Systems' Technical Support Staff.
[ Begin ] Press this button to continue with this initial setup processing.
[ Cancel ] Press this button to close this window and return to the previous window.
[ Help ] Press this button (if available) or the F1 key to view the Help text for this window.
