AR/AP Offset

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Use this form to select the AR and AP transactions to be offset. You can recall and update processed AR/AP offsets.

Reference

Enter a unique reference for the processing.

Description

Enter a description for the processing.

Customer Code

Select from the available customers. You can only select customers with AP offsetting set up.

Selecting a customer populates the Customer Alpha, Customer Name, Offset Supplier Code, Supplier Alpha, and Supplier Name fields. Greentree Desktop also displays transactions available for offsetting.

Supplier Code

Select from the available suppliers. You can only select suppliers with AP Offsetting set up.

Selecting a supplier populates the Supplier Alpha, Supplier Name, Offset Customer Code, Customer Alpha, and Customer Name fields. Greentree Desktop also displays transactions available for offsetting.

Show Children

Select this option if children of the customer and/or supplier should also be shown.

Selected

Select this option to select a transaction for offsetting

Offset Amount

The default value is the total available amount. You can change the value to any amount less than the available amount

Click the Save icon to save the selections and run AR/AP offsets. This generates AR and AP journals to offset the amounts between the accounts. Adjustments for foreign currency variations and Quad accounting are also generated.

Notes:

1. The offset balance must be zero ie the same amount is being offset in AR and AP.
2. Prompt payment discounts are not taken into account during offsetting.
3. Where AR or AP children are shown the parent account relationship is used to display the AR or AP transactions available for offsetting. The child does not have to have offsetting enabled on their AR customer or AP supplier record.
4. Customers and suppliers must be in the same company.
5. The Offset Suspense Account set up on the General Ledger Module Control form is used during processing. This account should always have a balance of zero.

Processing

When the AR AP Offset form is saved this occurs:

• These journals are created:
  • AR Journal

    Offset Suspense Account	80.00
    AR Control	(80.00)

  • AP Journal

    AP Control	80.00
    Offset Suspense Account	(80.00)

• The journal narration shows the account the offset is transferred to
• The Offset Suspense Account should always balance to zero once the transactions are processed
• If the AR customer and AP supplier are in a foreign currency an exchange variance is generated if the Local Currency value of the transactions is different — for example:

  	FC	LC
  AR Invoice	100.00	120.00
  AP Invoice	100.00	130.00

  
  Offset journals

  AR Journal

  Offset Suspense Account	120.00
  AR Control	(120.00)

  AP Journal

  AP Control	130.00
  Exchange Variance	(10.00)
  Offset Suspense Account	(120.00)

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