Vendors come across situations, where Customer receipts have amounts petite as compared to Invoice amounts but the difference is too small to keep an Invoice open. The reasons to short close these Invoices can be purely Customer Management related; now the question is how to configure these in systems?
Further to this, if there are more than One such document and multiple number of such customers, then Knocking-off document-by- document will be very tedious and time consuming task. Therefore, Sage 300 ERP (formerly known as Sage Accpac ERP) has provided a feature, where users can write-off documents in terms of amount and percentage as per requirement.
Say for an example, we have received a payment of US $ 20000 from a customer against an Invoice of US $ 20002, and management wants to waive off US $ 2 for the sake of Customer Relation.
As we can see Payment amount and Invoice amount does not tally, therefore we need to setup system for such kind of behavior; otherwise our balances will not tally with System Balances. Thus, these inconsistencies could be overcome by using “Write-off Batches” functionality.
Users can write-off documents depending on various types as mentioned below.
1. Outstanding Transaction
2. Overdue Transaction
3. Overdue Balances
4. Outstanding Balances
There are several filtering criteria’s provided by Sage 300 system such as, Users can execute the write off batch on a particular date, if required users can also use specific type of transactions to write-off, further to this they can select documents based on the customer and customer groups.
Navigate to Accounts receivable->AR Periodic Processing->Create write off batches to view the write off screen.
Once batch is processed, system will create an un-posted entry in AR Invoice batch list, where it will Credit the customer on one side and will Debit the write off account defined in AR account set on the other side.