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Is there a way to track customer payments to multiple revenue accounts throughout multiple years without using the subsidiary ledger?
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This absolutely depends on your Chart of Accounts design. For instance, one of the most common COA design regarding customers is configuring only two accounts in the General Ledger;
Under Accounts in the Customer Maintenance Window, Local Customers account is set up for all the customers in the local market. On the other hand, International Customers account is set up for all the international customers.
This design provides business with the ability to track customers payment per customer from the "Sales Module". While this information can't be retrieved from GL, only payments for Local and International customers categories can be tracked in GL.
I have seen some companies group customers in further details categories to record such details in GL. Such as; Retail and Wholesales customers.
We actually are not that complex. Our issue is these are not actually sales, they are donations. We want to be able to track donations for each "customer" without having to create an invoice every time money is received.
The most common way to deal with Donations is to enter an invoice in order to record the money your customer owe you under Accounts Receivable.Further more, a cash receipt is entered and applied to the invoice once the money is received in order to increase your cash account and decrease your AR account. This is all done through GP Financials.
In case you don't need to create an invoice every time the money is received, you could directly enter the
associated journal entry from GL, making use of the "Reference" field to record customer ID which could help you track your customer payments.
Most of my NFP clients use a donation management software and we integrate with that. Based on your questions, I assume that you do not.
There are several issues to consider here.
1) Do you want to use Bank Rec? If so, then doing a GL entry will not work as it does not hit Bank Rec. You would need to do a Bank Transaction to update both Bank Rec and GL. However that begs the question about receipts vs. deposits in Bank Rec.
2) You don't necessarily need to do an Invoice (in SOP or Invoicing). You could do a RM Transaction and apply the cash at the same time as entry. This does mean that you need to have customer(s) setup. It would be a one step operation however.
3) Does you GL Account setup reflect the different streams?
I could go on and on with several more issues.
Hope this helps more than confuses.
Warren
Is there somewhere I could see an example of using the customer id with the journal entry? That would most likely apply to most of our donations.
Do you have a competent GP Partner to work with?
Warren,
yes we do use the bank rec. right now we are entering the donations as receipts through bank transactions. Could you explain #2 a little more in detail? Are you saying we could enter these payments as receipts without having to apply them to an invoice?
If you do a RM Transaction you can enter the receipt right on that window. The receipt is automatically applied to the "invoice", so zero dollars are moved into AR. Transaction history is moved to AR, but it is fully applied.
This also makes a receipt in BR, that then needs to be deposited (with other receipts possibly).
This also makes a GL entry. DR-Cash, CR-Revenue.
So basically just change around the distribution when I am entering a receipt. Also, what about the apply button. Even though right now there may be no invoice to apply this receipt to, if I did have to invoice this customer for some reason in the future, could a receipt from the past be applied to that new invoice? Is there a way to stop these cash receipts from being applied to anything in the future?
No, you do the receipt right on the RM Transaction Window.
I really think you need to pull in a GP Partner to help you with the business process here. If you don't have a good one, then we can talk.
Warren.
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