Assign accounts receivable general ledger accounts
If you process receivables for your client in Accounting CS, it's important to assign GL accounts to the AR accounts listed below, no matter the accounting method selected (accrual basis or cash basis) in the
Accounts Receivable
tab. This makes sure that the journal entries are posted to the correct accounts. Otherwise, the application assigns items with blank accounts to the undistributed account causing balances to be off.You can assign the accounts receivable GL accounts in the screens below.
GL account | Accounting CS screen |
|---|---|
Accounts Receivable | Setup, Clients, Accounts Receivable tab General Ledger Accounts section |
Bad Debt Expense | Setup, Clients, Accounts Receivable tab General Ledger Accounts section |
Beginning Balance | Setup, Customers, Accounts Receivable tab Beginning Balance section |
Cash | Setup, Clients, Accounts Receivable tab General Ledger Accounts section |
Cost of Goods | Setup, Invoice Items screen Purchase Information section (for Item type items) |
Finance Charge | Setup, Clients, Accounts Receivable tab General Ledger Accounts section |
Inventory | Setup, Invoice Items screen Inventory Information section (for Item type items) |
Sales | Setup, Invoice Items screen Sales Information section |
Sales tax | Setup, Invoice Items screen Sales Tax Information section |
Shipping | Setup, Invoice Items screen Shipping Information section |
Undeposited Payments | Setup, Clients, Accounts Receivable tab General Ledger Accounts section (for assets) |
Unearned Revenue | Setup, Clients, Accounts Receivable tab General Ledger Accounts section (for liabilities) |
note
- The option to specify the client's accounting method (Accrual basis vs. Cash basis) is in the Accounting Method section of theSetup,Clients, thenAccounts Receivabletab.
- The application doesn't post historical (beginning balance) items to the General ledger. However, these items are available for AR reports.
- If you attempt to post an item to a period that is outside of the current year, the application posts the item to the current period.
