Accounts Receivables Auto Accounting:
Define Auto Accounting to specify how you want Receivables to
determine the general ledger accounts for transactions that you enter manually
or import using Auto Invoice. Receivables create default accounts for revenue,
receivable, freight, tax, unearned revenue, unbilled receivable, finance
charges, bills receivables accounts, and Auto Invoice clearing (suspense)
accounts using this information. When you enter transactions in Receivables,
you can override the default general ledger accounts that Auto Accounting
creates. You can control the value that Auto Accounting assigns to each segment
of your Accounting Flex field, such as Company, Division, or Account. You must
define Auto Accounting before you can enter transactions in Receivables.
To define Auto Accounting:
1. Navigate to the Automatic Accounting window.
2. Enter the Type of account to define. you may Choose from the
following to configure the type of Account you wish to setup the rule for
Auto Invoice Clearing: The clearing account for your
imported transactions. Receivables use the clearing account to hold any
difference between the specified revenue amount and the selling price times the
quantity for imported invoice lines. Receivables only use the clearing account
if you have enabled this feature for the invoice batch source of your imported
transactions.
Bills Receivable: The bills receivable account for your transaction. Receivables
use this account when you exchange transactions for bills receivable.
Factored Bills Receivable: The factored bills
receivable account for your bills receivable transactions.
Freight: The freight account for your transaction.
Receivable: The receivable account for your transaction.
Remitted Bills Receivable: The remitted bills
receivable account for your bills receivable transactions.
Revenue: The revenue and finance charges account for your transaction.
Tax: The
tax account for your transaction.
Unbilled Receivable: The unbilled receivable account
for your transaction. Receivables use this account when you use the Bill In
Arrears invoicing rule. If your accounting rule recognizes revenue before your
invoicing rule bills it, Receivables uses this account.
Unearned Revenue: The unearned revenue account for your transaction. Receivables
use this account when you use the Bill In Advance invoicing rule. If your
accounting rule recognizes revenue after your invoicing rule bills it,
Receivables uses this account.
Unpaid Bills Receivable: The unpaid bills receivable
account for your bills receivable transactions.
For each segment, enter either the table name or constant value
that you want Receivables to use to get information. When you enter an account
Type, Receivables displays all of the segment names in your Accounting
Flexfield Structure. Segments include such information as Company, Product,
Department, Account, and Sub–Account. Receivables let you use different
table names for different accounts. Choose one of the following table names:
Bill To Site: Use the bill–to site of the transaction to determine this
segment of your revenue, freight, receivable, Auto Invoice clearing, tax,
unbilled receivable, and unearned revenue account.
Drawee Site: Use the site table to
determine this segment of your bills receivable, factored bills receivable, and
remitted bills
receivable
and unpaid bills receivable account.
