Frequently Asked Question

APPLY DATING TERMS

The menu path is:

ACCOUNTS RECEIVABLE > 4. TRANSACTION PROCESSING > 4. APPLY DATING TERMS

Enter in the already existing customer and invoice number with leading zeros if applicable. If a match is found, then the rest of the information for date, reference and amount will be displayed. You are asked to confirm that this is the correct invoice.

Use this screen to take the existing invoice and either spread the payment out over a period of time (called split terms or dated-out) or to advance the due date for the invoice as a whole. A ‘new’ invoice number will be assigned to each split using the originating invoice followed by -1, - 2, -3 etc. The date to be entered for each split is the date that the payment is due and the amount of that payment needs to be entered as well. As soon as the amounts of each split total the originating invoice amount (when the ‘to allocate’ figure is 0.00), the system will automatically complete. Press [F1] to accept what you have done or enter in the line number to change the values.

Internally, the system will write a CREDIT MEMO to the original invoice and create entries on the customer account for each of these split (dated out) invoices. A print out will be generated automatically identifying the original invoice and the new invoices. If some of your invoices have been entered with dates for a future month, then they will not be picked up by the ACCOUNTS RECEIVABLE > AR MONTH END > BALANCE FORWARD UPDATE process until the appropriate MONTH END.