Receivables set up beginning customer balance without hitting GL

unknown

Hello all,

We have been using Infor for almost two years, but we are just setting up our Receivables module. Our receivables transactions have been being entered in Cash Management and are in our GL.  Now that we are ready to load our Receivable customer balance, we cannot have them hit the GL. 

Has anyone set up Receivables with a beginning customer balance without hitting the GL?

From our conversations with Infor, we will need to create invoices and they are recommending using the new "Mark as Paid" option when importing the invoices.  This seems counterintuitive since we will need to apply payments to these invoices as they come in. As payments come in, we will follow the standard process for creating and applying payments. We plan on testing this, but wanted to reach out first and see if anyone had any experience with this, and if there are any lessons learned.

Appreciate any insight or feedback this community can provide.

Make it a great day, Laura

ron-newberry-jr

Hi Laura

Transaction entry should be performed using the conversion process and not the interface process. While you still need the distribution information, conversion records do not send posting transactions to the Global Ledger. Interfaced, transactions will send distributions to the Global Ledger. You will have the option to either load the AR transaction at the full amount with a partial paid amount/open amount or simply reduce the invoice amount to the open amount with no paid amount. I personally like the full amount and then paid just in case you ever had to reverse a payment later on.