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Posted by Laura on March 4, 2007, 12:15 pm
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> We generate reports on Cash basis. Sometimes after entering a payment the
> customer's previous payment is reallocated in the reports. This results
> in
> odd amounts looking like they were paid currently. For example, the
> customer paid $100 for a service last summer and upon paying for a
> different
> service in January this year an odd portion of the new payment, $14.58,
> got
> allocated to the old service. Our P&L now shows a January payment of
> $14.58
> for something that was entirely paid last year. It balances out so that
> the
> customer is still paid up to date but it is disconcerting to report having
> received payment for an old debt that was paid last summer.
>
> This happens regularly but only when we report on a cash basis. Perhaps
> related, we also get negative accounts receivable and payable that are not
> justified by customer credit balances.
>
> Thanks for any help.
What you are describing does not sound quite right. I would suggest that you
run a transaction report for this customer and verify that the dates of the
invoices and payments are correct. A payment made last summer but showing up
on the January P&L suggests an incorrect date on the payment. Also check for
payments received without being applied to an invoice.
A negative A/R balance usually indicates a credit to the account. This can
be caused by a payment w/o an invoice for example.
I would also verify the date range of the report.
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