Maintain Customer Balances

This routine may be affected by Regional Processing restrictions. That is, you may not have access to all customers and locations.

Manual Adjustments Tab

To place the selected open item "in dispute", check the box at this field. To remove the open item from In-Dispute status, click on the box to remove the check. Note that you cannot adjust items in dispute. That is, you must first remove the In-Dispute status from the item.

This field is active only if you select

an existing open item from the grid so that it is active on the screen, and
"Maintain" at the Action field or the open item is currently "in dispute".

Once you enter the Action and Amount, select Add. For the transaction line selected, the grid displays the Action (P=Pay, K=Keyoff, R=Refund, O=On Account, L=Long Term Revolving) and Amount.

To place a credit amount on account, select On Account from the Actions button.

This tab is active only if you have access via the Maintain Customer Balances; Manually Adjust an Account Balance field in the Extended Security (Receivables) settings.

For each transaction, the grid displays the following:

Reference
Dispute (code)
Post (date)
(transaction) Type
Description Memo Reference
A/R Amount
Adjustment

Maintain GL Postings

Keyoffs Tab

In order to process customer refunds using this screen, you must have access via the Maintain Customer Balances - Refund field in your User/User Group Receivables Security settings.

Use this field to indicate the action to perform on the selected transaction. You have the following options:

Pay - pay the selected debit transaction by applying a credit transaction
Keyoff - apply the selected credit transaction to a debit transaction
Refund - refund the selected credit transaction to the customer.
Long Term Revolving - apply selected debit or credit transaction to long term revolving balance
Long Term Installment - apply selected debit/credit transaction to long term installment balance - active only if customer has an active installment contract and no installment payments currently due.

This field is active if you selected Long Term Installment at the Action field. Use this field to specify the installment contract to which you are applying the selected open item. Click the Arrow button to select from a list of active installment contracts. Key-off's can be posted to only one installment contract plan at a time.

Once you enter the Action and Amount, select Add. For the transaction line selected, the grid displays the Action (P=Pay, K=Keyoff, R=Refund, O=On Account, L=Long Term Revolving, I=Long Term Installment) and Amount.
To place a credit amount on account, select On Account from the Actions button.

This tab is active only if you have access via the Maintain Customer Balances; Key Off a Credit/Debit Balance field in the Extended Security settings.

For each transaction, the grid displays the following:

Reference
Dispute
Post Date
Due Date
A/R Amount
Transaction Type
Action
Memo
Amount

Bad Debt Tab

Use the Bad Debt process to re-classify accounts that are past due. The change in classification is always done manually. You can re-classify accounts as

The screen displays the current and past due amounts for the selected customer, as well as the

You cannot assign an Alert Code of "CO" (charged off) or assign an automatic write-off code to accounts with active revolving plans or active installment contracts. Active plans/contracts must be cancelled first.

Use this field to reclassify an account's bad debt status. If you click on the Arrow button, a list of customer alert codes appears, including the following:

None Selected - reinstate an account that was previously charged off. The following prompt appears:

Reinstate the customer to current status? Yes No.

To return the account to a status of current and post a manual adjustment (moving the previously zeroed out A/R balance back into the current A/R), answer Yes.

If you use the sales tax adjustment feature (see Accounts Receivable Control Settings) and sales tax adjustments were posted when you charged off the customer's balance, you may need to make GL adjustments to the sales tax following reinstatement. These adjustments, if needed, must be entered manually.

When a charged off Revolving account is reinstated, the customer’s revolving plans are reopened with a long term balance equal to the amount that had been charged off for the plan, net any payments that were applied and repossessions processed while the plan was charged off. When a revolving plan is reinstated, it has a long term balance only and does not generate MMPs until it cycles. If you need MMP(s) due to be posted to the account immediately, you must manually post them via the Adjust Revolving Plans process.

CO (CHARGED OFF) - reduce both long and short term receivable balances to zero and remove any existing open items; prohibit all sales order and receivable processing with the exception of payment applications.

If the Charge-Off before Non-Accrual field in the Accounts Receivable Control Settings is enabled, this option is available only if the account was previously set to NA (NON ACCRUAL) status.

The actual charge-off occurs when you click the Save button. The charged-off balance is removed from the customer account, the appropriate G/L posts are completed, and the customer's account is closed to any new activity.

Using the Sales Tax Adjustment Feature for Charge-Off's

If you use the sales tax adjustment feature (see Accounts Receivable Control Settings), the system also calculates the amount of sales tax adjustment, if applicable for the jurisdiction. The sales tax adjustment transactions are created and posted to the General Ledger (see General Ledger Assigned Account Settings) before the actual charge-off of the customer balance occurs. These sales tax adjustments are included on the Report Sales Tax.

If you use the sales tax adjustment feature AND you use a third party tax provider via the STORIS Alternate Tax Interface (ATI), the amount being charged off is sent to your tax provider (Vertex, CCH). Your provider calculates the amount of the sales tax adjustment, if applicable for the jurisdiction, and returns the tax adjustment amount to STORIS for GL posting.

NA (NON-ACCRUAL) - suspend further accumulation of interest and late fees; exclude the customer from all mailing lists (that is, automatically enable the Do Not Solicit field in Customer Settings).

When charging off an account, if the Charge-Off before Non-Accrual field in the Accounts Receivable Control Settings is enabled, you must first set the Alert Code to NA.

Even if an account is in non-accrual status, insurance charges are still cycled.