Sage X3 provides the ways to manage the customer risks, the doubtful receipts is one of the important function which is used to record the doubtful receipts for customers. The account type used during the posting of the entries varies according to whether the customer is defined as doubtful or not. It is also possible to define if there are any unpaid charges to be carried, if these charges generate a journal entry that is different to the doubtful receipt entry, and if necessary, whether they must be the object of customer re-invoicing.
To Create the Doubtful receipt against follow the below mentioned steps:
Navigate through A/P – A/R Accounting > Payments > Doubtful Receipt Entry
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1. Fill the header details:
Bank: This is the bank assigned to the payments to be processed and thus the bank where the doubtful entries are posted.
Accounting Date: This is the accounting date that is given to journal entries created by the process.
Select the payment for doubtful receipt: It is possible to manually enter a payment number. A selection screen (called by the contextual menu/right click) is used however to propose a group of payments corresponding to defined criteria. Refer to the below screen shot of selection window.
2. Fill the other detailed line fields :
Reason: This field is used to define the doubtful receipt entry reason. The user can choose any valid reason from the drop down list.
Doubtful: This field is used to define whether the customer is doubtful or not. This information has an impact on the account types that will be used at the time of posting the doubtful receipt entry. If the customer is “doubtful”, the doubtful receipt entry is generated in a “doubtful customer” control account. If the customer is not considered to be doubtful, the doubtful receipt entry is generated in the same control account as the one settled.
Charges: This field is used to enter the amount of charges caused by the doubtful receipt entry. The amount is expressed in the currency displayed in the header (bank currency).
VAT/VAT: The doubtful receipt entry charges are subject to VAT. It is therefore necessary to define the appropriate tax code. The VAT amount is automatically calculated.
Analytical Posting: If the charges are tracked analytically then it is necessary to define the analytical posting for the charge that arises.
Due Date: It is possible to define the due date for the journal entries generated by the process.
3. After entering the all the details click on save the doubtful receipt will get create and payment status will changed to “Unpaid” and it will the generate the log file wherein it will show the Doubtful receipt number created against the payment as shown in below screen shot.
You can check the doubtful receipt created for the payment’s on clicking the “Milestone” button present on payment screen. When we click this button it will show the details in trace log file as shown in below screen shot.
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