Quick Video Demo: Accounts Receivable Adjustments in Sage 300 CRE (Timberline)
Are you using all the benefits of Receivable Adjustments in Sage 300 CRE?
Have you ever wanted to fix your Accounts Receivable invoice but not sure how or which of the many types of adjustments to use? Well, it’s very straightforward when you ask three questions:
- Do you want to affect the ‘billed amount’ on your contract or job?
- Do you want to adjust the invoice affecting only your AR Aging invoices – therefor leaving the ‘billed amount’ the same as your contract and job?
- Do you want to apply a credit to the customer that can be applied to a future invoice?
The first word in the adjustment type is your clue – meaning “Billed”, “AR” or “Customer”.
- Billed adjustments (credit or debit) will affect the billed amount on your job and contract. This is helpful for example if you overbilled or maybe the customer is not going to pay part of the bill this month but will next month and needs to see the following month’s invoice showing correct billed amounts.
- AR adjustments (credit or debit) will affect the open amount for the customer. This will keep the billed amounts the same on the contract and job. This is helpful when you want to clear outstanding invoices in AR that will never have cash applied to them, but you want to keep the billed amounts in tact in Job Cost and Contracts for reporting purposes.
- Customer adjustments (credit or debit) apply a credit to the customer. You can apply this credit to a future invoice. When you apply the customer credit later, it will turn into an AR credit. If you want it to be a “billed” credit/debit, just void the customer credit and enter a new adjustment.
On a related note, if you want to print a “credit memo” for the customer, check the box “print document” in the adjustment screen and put a ‘memo’ in the ‘description’ field (up to 30 characters).
For additional information on the benefits of Sage 300 Construction and Real Estate – Accounts Receivable, click here.
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