Verify ACR Balances

How to Verify ACR Balances

Problem:

How to verify that the unpaid invoices and the unapplied payments equal the ACR Total of Each Account

Steps to Verify:

1. ACR > Account Processing > Aging and Finance Charges

2. Answer NO to “Create Finance Charges, Interest Credits, and Historical Balances?”

3. Key in the Ending Date range (usually the end of the current accounting month)

4. Select any ranges, if limiting the aging verification

5. Click OK to continue

6. Answer Yes, this is correct to continue or NO, to go back and make changes.

7. Answer Yes/No to this this as your default for the aging/finance charge process.

(NOTE: This default is used in the report stream process to lock in the settings when running the aging/finance charge process via a report stream. Only set this as your default if you are sure it will not affect a report stream process.)

What is Happening:

• AGRIS is adding up each unpaid invoice and each unapplied payment.

• If the total does NOT equal the location total for that customer, then AGRIS changes the location total to match the new calculation.

• AGRIS is also placing an aging bucket category on all unpaid invoices, which would affect an aged accounts payable balance report.

Things to Note:

• You may have noticed that by answer NO to “create Finance Charges, Interest Credits, and Historical Balances?” that we bypassed three other functions that can be run in this function. There is a way to turn these off.

• What you can never turn off is the aging/validation function. It will always be processed when in this aging & finance charge function. There is no way to bypass the again/verification function. It will always occur.

Document written by A. Mueller