Regeneration of Statements: Process Activity

The following activity will walk you through the process of regenerating customer statements.

Story

Suppose that after the generation of customer statements, the sales manager of the SweetLife Fruits & Jams company found out that an invoice as of 1/31/2024 for Morning Cafe in the amount of $210 had not been entered into the system.

Acting as the chief accountant of SweetLife, you need to record this invoice and regenerate the customer statement for this customer.

Configuration Overview

For the purposes of this activity, the following features have been enabled on the Enable/Disable Features (CS100000) form:

  • Standard Financials, which provides the standard financial functionality
  • Multibranch Support, which supports multiple branches in your instance of MYOB Acumatica
  • Multicompany Support, which supports multiple companies within one tenant.

On the Statement Cycles (AR202800) form, the EOM (End of Month) statement cycle has been defined and specified for the customers assigned to the DEFAULT customer class (local customers).

On the Customers (AR303000) form, the MORNINGCAF (Morning Cafe) customer has been defined. For this customer, the Print Statements check box has been selected in the Print and Email Settings section on the Billing tab.

On the Accounts Receivable Preferences (AR101000) form, the Hold Documents on Entry check box has been selected in the Data Entry Settings section. In the Consolidation Settings section, For Each Branch has been selected in the Prepare Statements box.

Process Overview

You will enter an invoice on the Invoices and Memos (AR301000) form. On the Print Statements (AR503500) form, you will regenerate the last statement for this customer and print the statement on the same form.

System Preparation

To prepare the system, do the following:

  1. Launch the MYOB Acumatica website with the U100 dataset. Sign in as an accountant by using the following credentials:
    • Username: johnson
    • Password: 123
  2. In the info area, in the upper-right corner of the top pane of the MYOB Acumatica screen, make sure that the business date in your system is set to 1/31/2024. If a different date is displayed, click the Business Date menu button and select 1/31/2024. For simplicity, in this activity, you will create and process all documents in the system on this business date.
  3. On the Company and Branch Selection menu, also on the top pane of the MYOB Acumatica screen, make sure that the SweetLife Head Office and Wholesale Center branch is selected. If it is not selected, click the Company and Branch Selection menu to view the list of branches that you have access to, and then click SweetLife Head Office and Wholesale Center.
  4. As a prerequisite activity, make sure that a statement has been prepared for this customer in the needed financial period, as described in Customer Statements: Process Activity.

Step 1: Creating the Invoice

To create the invoice, do the following:

  1. Open the Invoices and Memos (AR301000) form.
    Tip:
    To open the form for creating a new record, type the form ID in the Search box, and on the Search form, point at the form title and click New right of the title.
  2. On the form toolbar, click Add New Record, and specify the following settings in the Summary area:
    • Type: Invoice
    • Customer: MORNINGCAF
    • Date: 1/31/2024 (inserted by default)
    • Description: 3 hours of service
  3. On the Details tab, click Add Row, and specify the following settings for the added row:
    • Branch: HEADOFFICE (inserted by default)
    • Transaction Descr.: 3 hours of service
    • Ext. Price: 210
  4. On the form toolbar, click Remove Hold, and click Release to release the invoice.

Step 2: Regenerating the Customer Statement

To regenerate the last customer statement, do the following:

  1. Open the Print Statements (AR503500) form.
  2. In the Actions box, select Regenerate Statement.
  3. In the Statement Cycle box, verify that EOM - End of Month is displayed.
  4. In the Branch box, make sure that HEADOFFICE is specified.
  5. In the table, review the customer statements. Note the Statement Balance for the MORNINGCAF customer.

    The selected Printed check box means that this statement has been already printed.

  6. Select the unlabeled check box for the MORNINGCAF customer statement and click Process on the form toolbar, as shown in the following screenshot.
    Figure 1. The printed customer statement to be regenerated


  7. In the Processing pop-up window, which is opened, click Close.

Step 3: Printing the Statement

To print the regenerated statement, do the following:

  1. While you are still on the Print Statements (AR503500) form, in the Actions box, select Print Statement.
  2. Select the unlabeled check box for the MORNINGCAF statement, and on the form toolbar, click Process.

    The statement is printed. Notice that the printed statement contains a note that the statement has recently been updated. The Amount Due of the statement has been increased by the amount of the invoice you created in Step 1.