depositing overpayments in cash receipts

I am using Dynamics GP and I received a check with an overpayment that I 
would like to classify as "other" vs "recv" so it does not show up on my aged 
a/r report.  I can't figure out how to define "other" and whenever I try to 
use this type I get an error message about how the account is incorrect and 
will save with errors.

any suggestions?
0
Utf
12/28/2009 8:17:01 PM
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Hi,

You can proceed as planned, however, instead of modfiying the distribuition 
type from RECV to OTHER, you can accept the RECV when you split the amount 
and just chnange the posting account.

Hope this helps!

Cheers,

Dennis Araullo, MACS
Microsoft Certified Technology Specialist GP,CRM,AX
MCITP Installation and Configuration AX 2009
MCITP Database Administrator SQL 2008
Citrix Certified Enterprise Administrator



"elainam" wrote:

> I am using Dynamics GP and I received a check with an overpayment that I 
> would like to classify as "other" vs "recv" so it does not show up on my aged 
> a/r report.  I can't figure out how to define "other" and whenever I try to 
> use this type I get an error message about how the account is incorrect and 
> will save with errors.
> 
> any suggestions?
0
Utf
12/28/2009 8:43:01 PM
Hi Elaine,
Thi will still appear on your aged debt listing. Once the cash receipt is 
posted through RM Cash Receipts, no matter where you distribute the cash, it 
will appear on your aged debtors listing. In fact, it could be bad practice 
to distribute it to any accounts other than the defaults, as this will cause 
your GL Debtors Account and your Aged Debtors Listing to disagree.

If this is an overpayment, eithre:
1. It will be refunded to the customer.
2. It will be retained to be applied against future sales.

Eithre way, it is valid that it is included in your debtor listing. Doing 
anything else with it, is misleading. (Hope I understood the post correcly).

If you really need to isolate it and keep it off your debtors ledger, then 
post the correct receipt to the debtors ledger, and the other overpayment as 
a 'Bank Transaction' and distribute it to a Liability account showing you 
'owe' this ovepayment. 

Best regards,

"Dencio" wrote:

> Hi,
> 
> You can proceed as planned, however, instead of modfiying the distribuition 
> type from RECV to OTHER, you can accept the RECV when you split the amount 
> and just chnange the posting account.
> 
> Hope this helps!
> 
> Cheers,
> 
> Dennis Araullo, MACS
> Microsoft Certified Technology Specialist GP,CRM,AX
> MCITP Installation and Configuration AX 2009
> MCITP Database Administrator SQL 2008
> Citrix Certified Enterprise Administrator
> 
> 
> 
> "elainam" wrote:
> 
> > I am using Dynamics GP and I received a check with an overpayment that I 
> > would like to classify as "other" vs "recv" so it does not show up on my aged 
> > a/r report.  I can't figure out how to define "other" and whenever I try to 
> > use this type I get an error message about how the account is incorrect and 
> > will save with errors.
> > 
> > any suggestions?
0
Utf
12/29/2009 12:01:01 PM
I agree with everything Ian said, but would like to add another option for 
handling this in GP.  You can use the writeoff functionality to take the 
amount off your AR subledger and 'move it' somewhere else after the cash 
receipt is posted.  Here are the steps I would recommend:

1. Enter cash receipt for the entire amount paid by the customer.  Doing 
anything else would make it very difficult to do any kind of accurate 
reconciliation of the customer's account in the future and may also make 
your Bank Rec more difficult.  Leave the GL distributions as defaulted, 
especially the type of distributions - GP very rarely tries to meddle in GL 
distributions, when it does, there is good reason.

2. If the overpayment will not be returned to the customer or if you would 
like to move it out of the AR subledger, go to Tools > Routines > Sales > 
Write Off Documents and write off this overpayment (or do this monthly for 
all overpayments).  This will automatically create a debit memo for the 
overpayment and apply it to the unapplied portion of the cash receipt.  The 
GL account used for the writeoff will be taken either from each customer's 
accounts set on the Customer Account Maintenance window or, if no account is 
specified for Overpayment Writeoffs there, from the Posting Accounts setup 
for the company.

-- 
Victoria Yudin
Dynamics GP MVP
Want to use Crystal Reports with GP?
http://www.flex-solutions.com/gpreports.html
blog: http://www.victoriayudin.com


"Ian in Ireland" <IaninIreland@discussions.microsoft.com> wrote in message 
news:9C8319D4-977A-476A-8675-F2F25B0AD058@microsoft.com...
> Hi Elaine,
> Thi will still appear on your aged debt listing. Once the cash receipt is
> posted through RM Cash Receipts, no matter where you distribute the cash, 
> it
> will appear on your aged debtors listing. In fact, it could be bad 
> practice
> to distribute it to any accounts other than the defaults, as this will 
> cause
> your GL Debtors Account and your Aged Debtors Listing to disagree.
>
> If this is an overpayment, eithre:
> 1. It will be refunded to the customer.
> 2. It will be retained to be applied against future sales.
>
> Eithre way, it is valid that it is included in your debtor listing. Doing
> anything else with it, is misleading. (Hope I understood the post 
> correcly).
>
> If you really need to isolate it and keep it off your debtors ledger, then
> post the correct receipt to the debtors ledger, and the other overpayment 
> as
> a 'Bank Transaction' and distribute it to a Liability account showing you
> 'owe' this ovepayment.
>
> Best regards,
>
> "Dencio" wrote:
>
>> Hi,
>>
>> You can proceed as planned, however, instead of modfiying the 
>> distribuition
>> type from RECV to OTHER, you can accept the RECV when you split the 
>> amount
>> and just chnange the posting account.
>>
>> Hope this helps!
>>
>> Cheers,
>>
>> Dennis Araullo, MACS
>> Microsoft Certified Technology Specialist GP,CRM,AX
>> MCITP Installation and Configuration AX 2009
>> MCITP Database Administrator SQL 2008
>> Citrix Certified Enterprise Administrator
>>
>>
>>
>> "elainam" wrote:
>>
>> > I am using Dynamics GP and I received a check with an overpayment that 
>> > I
>> > would like to classify as "other" vs "recv" so it does not show up on 
>> > my aged
>> > a/r report.  I can't figure out how to define "other" and whenever I 
>> > try to
>> > use this type I get an error message about how the account is incorrect 
>> > and
>> > will save with errors.
>> >
>> > any suggestions? 

0
Victoria
12/29/2009 12:47:40 PM
Reply:

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