Payments with Write-Offs: Implementation Checklist

To ensure that the system is configured properly for creating a credit write-off when you process a payment, make sure that the criteria listed in the table have been met in the system as described.

Form Criteria to Check Notes
Enable/Disable Features (CS100000) Make sure the basic features have been enabled, as described in Company Without Branches: General Information, Company with Branches that Do Not Require Balancing: General Information, and Company with Branches that Require Balancing: General Information.
Customers (AR303000)

Verify the existence of the customer accounts for the customers whose payments you want to process. For details, see Customers: Implementation Activity.

The needed customer accounts must be specified for write-offs in the Financial Settings section on the Financial tab as follows:

  • The Enable Write-Offs check box must be selected.
  • A Write-Off Limit value must be specified.
Chart of Accounts (GL202500) Verify the existence of the GL accounts to which the write-off amounts will be posted. The account you use to post credit write-off amounts should be an Income account; the account you use to post balance write-off amounts should be an Expense account.
Reason Codes (CS211000) Verify the existence of the reason codes to be used for write offs.

Settings That Affect the Workflow

Be sure that the appropriate settings have been defined as follows:

  • Do the following on the Posting Settings tab of the General Ledger Preferences (GL102000) form:
    • Make sure that the Automatically Post on Release check box is selected. This setting causes GL batches to be immediately posted after they are released.
    • Clear the Generate Consolidated Batches check box to cause every AR document you enter to be posted as an individual batch to the general ledger. (When this check box is selected, the system consolidates into a single batch all transactions in the same currency posted to the same period for all documents being released.)
  • On the General Settings tab of the Accounts Receivable Preferences (AR101000) form, do the following:
    • Select the Hold Documents on Entry check box in the Data Entry Settings section. This setting gives the created AR invoices and credit memos the On Hold status.
    • Make sure that the Automatically Post on Release check box is selected in the Posting Settings section. This setting indicates that AR invoices and credit memos will be automatically posted to the general ledger once they are released.
    • Clear the Require Payment Reference on Entry check box in the Data Entry Settings section. With this check box cleared, you do not have to fill in payment reference information in the Payment Ref. box on the Payments and Applications (AR302000) form.

With these settings specified, users in your company can record and process documents in MYOB Acumatica quickly and accurately, with a minimum of manual actions.