Dynamics GP and Write Off Documents functionality for Receivables Management
By Amy Walsh in Dynamics GP, Sales on Monday, October 19th, 2009
As we are nearing the end of another calendar year now could be a good time to review and clean up Accounts Receivable. Dealing with those old uncollectable customer balances from last year, underpaid documents or slight customer overpayments that still haunt your Aging Accounts Receivable report. There is an easy way to write off those balances in Dynamics GP and we will show you how.
In Dynamics GP there are 2 approaches to over/under payments and customer write offs. The first way…”Manually” create a debit or credit memo in the Receivables Management module then go to the Apply Documents window and apply the overage or underage. The second way and if you are like me always try to eliminate anything “Manual” from any accounting processes, is to use the Write Off Documents functionality in Dynamics GP. You can find the window by either going to Microsoft Dynamics GP >> Tools >> Routines >> Sales >>Write Off Documents or Click Sales on the navigation window, expand the Routines and you will see the “Write Off Documents” link. The window itself is relatively straight forward and also works with Multicurrency Management. If you use Multicurrency either a debit or credit memo will be created for each currency and auto applied at either the customer or document level that you choose on the window. Also, when it applies the document note that it will use the Average rate to calculate any foreign exchange gain/loss to create a journal entry that you will have to post from the Transactions >> Financial >> Batches window.
The Link http://www.box.net/shared/aktiso44lb documents the minor setup process, what to expect from the Write Off Documents window, reports that will be generated and reprints you may need. Furthermore, I think you will find the Write Off Documents functionality a quick effective tool to help in the ongoing management of your Accounts Receivable.
About Amy Walsh
Amy Walsh is an Accountant and Senior Consultant with I.B.I.S., Inc. As well as, Microsoft Certified Business Management Solutions Professional - Dynamics GP
Tags: AR write off, Dynamics GP Receivables Management, GP Write off documents, Great Plains AR, Great Plains write off AR
Posted in Dynamics GP, Sales
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