Accounts Receivable Credit Memos

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

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1stAssembly
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Joined: Thu Nov 08, 2012 2:04 pm

Accounts Receivable Credit Memos

Post by 1stAssembly »

I have been trying to set up accounts receivable for the first time due to the church starting a daycare. The families usually pay weekly but one family pays two weeks at a time. I have been inputting the total payment and applying half of it to the invoice due and creating a credit memo for the other half and then applying the credit to the next invoice when it is due. I thought everything was OK but when the family requested a report of the payments made to date, the payment report does not show the portion of the payments which was applied as a credit.

Any idea how to correct what I am doing wrong?

Matt
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Re: Accounts Receivable Credit Memos

Post by Matt »

It sounds like you are running the Payment Statement report in Accounts Receivable. This report will not show the portion of the payments applied as a credit. To see this run the Individual Account Statement report.

1stAssembly
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Joined: Thu Nov 08, 2012 2:04 pm

Re: Accounts Receivable Credit Memos

Post by 1stAssembly »

I did know that the credit memos were shown on the individual account statement but this is not a very friendly report for customers who just want a report of childcare payments for year end tax purposes. Was hoping to find something more concise.

Thanks for your reply.

Matt
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Re: Accounts Receivable Credit Memos

Post by Matt »

In reviewing the description of the Payment Statement report it says that the report can be used to provide parents a statement of child care or tuition payments for the year. However, as you note in your post and as I tested myself, the report does not show the portion of the payment that was applied as a credit memo. Given the description of the report and the purpose for which users will want to print it for, I think that it should show the full amount of the payment. Also, the report should show the EIN# for the church, as that number is needed if the report is for childcare payments and the person wants to use the report to claim the Child and Dependent Care credit on their tax return. Perhaps these are changes that can be made in an upcoming Maintenance Release.

Zorak
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Re: Accounts Receivable Credit Memos

Post by Zorak »

In the current design of the Accounts Receivable system, once the remainder of a payment has been converted to a credit memo, it becomes just that, a credit memo. I will pass your suggestions along to wishlist@powerchurch.com.

A better solution for using the current functionality of the program would be to create invoices out two weeks at a time so you can apply the whole payment as a payment to invoices, rather than using credit memos.

1stAssembly
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Joined: Thu Nov 08, 2012 2:04 pm

Re: Accounts Receivable Credit Memos

Post by 1stAssembly »

Thanks for your suggestions. I will see if it is feasible for me to do invoices that far in advance with families' needs changing on a daily basis. I look forward to software changes in an upcoming maintenance release.

Thanks!

zoology
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Re: Accounts Receivable Credit Memos

Post by zoology »

Zorak wrote:In the current design of the Accounts Receivable system, once the remainder of a payment has been converted to a credit memo, it becomes just that, a credit memo. I will pass your suggestions along to wishlist@powerchurch.com.

A better solution for using the current functionality of the program would be to create invoices out two weeks at a time so you can apply the whole payment as a payment to invoices, rather than using credit memos.
I'm trying to set up our day school in the Accounts Receivable module & was wondering if this improvement has been made since the original post? Just want to know what I'm walking in to :)

NeilZ
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Re: Accounts Receivable Credit Memos

Post by NeilZ »

zoology wrote:
Zorak wrote:In the current design of the Accounts Receivable system, once the remainder of a payment has been converted to a credit memo, it becomes just that, a credit memo. I will pass your suggestions along to wishlist@powerchurch.com.

A better solution for using the current functionality of the program would be to create invoices out two weeks at a time so you can apply the whole payment as a payment to invoices, rather than using credit memos.
I'm trying to set up our day school in the Accounts Receivable module & was wondering if this improvement has been made since the original post? Just want to know what I'm walking in to :)
Nothing yet.
Neil Zampella

Using PC+ since 1999.

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