Working with Open Items

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Joshua Fields
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1 1 Customers: Using CounterPoint Working with Open Items Overview Open items are individual documents showing individual transactions that have occurred for specific A/R charge customers. Open items can be invoices, finance charges, debit memos, payments, credit memos, or balance forwards. The total sum of all open items for a customer is the customer s account balance. This document explains how to view open items, print open item reports, close open items, and change open item information. Viewing open items Select Customers / View / Open items. Customer # Enter the customer number whose open items you want to view. Press F2 to change the view. Changing the view If you press F2 to change the view, you can select from two views: By date/document and By apply-to #. The view determines the order in which the open items are listed.

2 Customers: Using CounterPoint - Working with Open Items 2 Category This display-only field shows this customer s category. Terms This display-only field shows this customer s terms. Balance This display-only field shows this customer s current balance. If the customer has an unposted balance, an asterisk displays next to the balance. [Aged balances] The aged balances for this customer display at the bottom of the screen. Starting date: This field appears if you are viewing by date/document. Enter the starting date of the open items to view. Press F1 for the Earliest starting date. The date entered here determines which open items initially display. You may view open items with dates earlier than the date entered here by pressing Up Arrow or Page Up when open items are displayed. Start appl-to # This field appears if you are viewing by apply-to #. Enter the first apply-to number to view. Press F1 for the First apply-to number. The apply-to number entered here determines which open items initially display. You may view open items with apply-to numbers before the apply-to number entered here by pressing Up Arrow or Page Up when open items are displayed. Open item information The following information displays for each open item: Document date Document number Document type Apply-to number Due date Document total Document balance P.O. number Order number Amount Other amount

3 Customers: Using CounterPoint - Working with Open Items 3 Document type The following abbreviations are used for document types: I Invoice F Finance charge D Debit memo P Payment C Credit memo B Balance forward Amount vs. Other amount The amount for an open item is generally the full transaction amount. Writeoffs from cash receipts are considered other amounts. If you answer No to Terms discount on misc charges? and Terms discount on sales tax?, in Setup / Point of Sale / Control then miscellaneous charges and sales tax from Point of Sale tickets and Order Entry orders are also considered other amounts. The total of Amount and Other amount is the total amount of the open item document. Up to 13 open items display on the screen at one time. Press: Up Arrow Page Up Home F5 F6 F7 Enter Down Arrow Page Down End To move the highlight among the open items To view customer information (See the Viewing customer information section on page 4 for more information.) To display the Open Item zoom window for the highlighted open item (See the Zooming on an open item section on page 4 for more information.) To age this customer s account (See the Aging the customer s account section on page 4 for more information.) To view additional open item information

Customers: Using CounterPoint - Working with Open Items 4 Viewing customer

Open Item zoom window for the highlighted open item.

receivables information about this customer, and to age this customer s account.

4 Customers: Using CounterPoint - Working with Open Items 4 Viewing customer information Press F5 when open items are displayed, to view information about this customer. Zooming on an open item Press F6 when open items are displayed, to display the Open Item zoom window for the highlighted open item. Aging the customer s account Press F7 when open items are displayed, to display receivables information about this customer, and to age this customer s account. This window displays the customer s receivables information. Press F7 to age the customer s account as of the current system date. (See Aging Customers Accounts for more information.)

5 Customers: Using CounterPoint - Working with Open Items 5 Printing the Open Item Detail report Select Customers / Reports / Open item detail. 2. Date range Enter the range of open item document dates to include. At the second field, if you entered a specific date for the first field, leave <blank> to use the same date. Press F1 for the Earliest (or Latest) existing open item document date. 3. Report format Select the report format: Format Description Full Includes complete information on each open item for each customer (2 lines per open item) Brief Includes everything on the Full report except reference information (1 line per open item)

6 Customers: Using CounterPoint - Working with Open Items 6 Printing the Unapplied Items Report Select Customers / Reports / Unapplied items. The Unapplied Items Report provides a list of any open items that have not been applied. This report is applicable only to customers with a balance method of Open item, not Balance forward. Invoice, debit memo, finance charge, and balance forward open items are usually selfapplied, while payments and credit memos are usually either applied to another open item, or left open. In general, the Unapplied Items Report is used to identify payments and credit memos that haven t been applied. However, if an invoice, debit memo, finance charge, or balance forward item has an invalid apply-to number (one that doesn t exist as an open item document number), this item will also appear on the report. You can use this report to ensure that all open items have been properly applied before calculating finance charges and printing statements.

7 Customers: Using CounterPoint - Working with Open Items 7 Reapplying open items Select Customer / Change open items / Reapply open items. This menu selection allows you to select a target document, and quickly point and shoot to apply multiple apply-to documents to that target. Example of applying open credits for a customer without receiving payment: See the Example for applying open credits without cash receipt section on page 9 for more information. You can also access this screen from Customers / Cash receipts / Enter by pressing F2 after entering an apply-to number. (See Entering Cash Receipts for more information.) Customer # If you accessed this screen from Customers / Cash receipts / Enter, the customer number defaults to the customer from the cash receipt, and cannot be changed. Enter the desired customer number. Apply-to # If you accessed this screen from Customers / Cash receipts / Enter, the apply-to number defaults to the apply-to from the cash receipt, and cannot be changed. Enter the apply-to number of the target document. After you enter the customer number and apply-to number, the screen displays this customer s open items.

8 Customers: Using CounterPoint - Working with Open Items 8 Press: Up Arrow Page Up Home F1 F2 F5 F6 Down Arrow Page Down End To move between the displayed open item documents To reapply the highlighted document to the current apply-to To un-apply the highlighted document (available only for documents that are already applied) To view a zoom window containing information about the current customer To view a zoom window containing information about the highlighted document F7 To age the current customer as of the current system date Enter To view additional columns of information for the listed documents If you accessed this screen from Customer / Change open items / Reapply open items, press Esc to specify a new apply-to document. If you press Esc, you are returned to Apply-to # in order to specify a new apply-to document. If you press Esc while the desired new apply-to document is highlighted, that document number will automatically be used as the default for Apply-to #. If you accessed this screen from Customer / Cash receipts / Enter, press Esc to return to the cash receipt entry screen. This document is already applied. Are you sure you want to reapply? This message appears if you press F1 to reapply a document that is already applied. Specify whether to reapply this document by selecting Yes or No. New balance for apply-to will be $... Reapply this document? This message appears when you press F1 to reapply a document. Specify whether to reapply the selected document by selecting Yes or No. If you answer Yes, the selected document is applied to the current apply-to number, and the customer is re-aged. If you reapply a document to which other documents are applied, those documents are now considered to be unapplied.

9 Customers: Using CounterPoint - Working with Open Items 9 Example for applying open credits without cash receipt The following example shows how to apply open credits on a customer s account without accepting a payment at the same time. Situation A customer has the following open items: Invoice $65 Debit memo $15 Credit memo $50 Credit memo $20 Credit memo $25 You want to apply the credit memos to the invoice and debit memo. Analysis No payment has been made, so the most appropriate menu selection to use is Customers / Change open items / Reapply open items. Handling Select Customers / Change open items / Reapply open items 1. Enter the customer number 2. At the apply-to field, press F9 to view a list of open ageables 3. Select the $65 invoice. The screen will look something like: 4. Highlight the $15 debit memo and press F1 to re-apply 5. Answer Yes to Are you sure you want to reapply? 6. Answer Yes to New balance for apply-to will be... Reapply this document? 7. Highlight the oldest credit memo and press F1 to reapply 8. Answer Yes to New balance for apply-to will be... Reapply this document? 9. Repeat steps 7 & 8 for the next oldest credit memo 10. Press F7 to age the customer NOTE: You cannot apply the last credit memo to the invoice, because that reapplication would result in a negative invoice balance.

Customers: Using CounterPoint - Working with Open Items 10 Closing open items Periodically, you should remove fully paid open items from the Open Item file.

10 Customers: Using CounterPoint - Working with Open Items 10 Closing open items Periodically, you should remove fully paid open items from the Open Item file. This procedure is called closing open items, and is usually done at the end of each month, after statements have been printed. Select Customers / Month-end / Close open items. Be sure to print statements before using this selection. Otherwise, your statements may not show all the transactions that occurred since the last statements were printed. NOTE: Any open items that are closed using this selection are moved to the Closed Item file if you specified in Setup / Customers / Control to retain closed items. (See Printing Statements for more information.) If you are not retaining closed items, closing open items purges the items from your system. You may want to print an Open Item Detail report that includes the open items being closed before you actually close the items. (See the Printing the Open Item Detail report section on page 5 for more information.) You may also want to make a backup copy of the Open Item file in order to retain a copy of the information. 4. Balance method Select: Balance forward To close open items only for customers with a balance method of Balance forward Open item To close open items only for customers with a balance method of Open item Press F1 for All, to close open items for customers regardless of balance method.

11 Customers: Using CounterPoint - Working with Open Items Cutoff date Enter the last date of the open items to close. Press F2 for the day before the last statement period (if one exists). Only open items dated on or before this date will be closed. 6. Print or purge? Select: Print Purge Both To Print the Close Open Items Report without actually closing the open items To Purge (close) the specified open items without printing the Close Open Items Report To purge the specified open items and print the Close Open Items Report Close Open Items Report The Close Open Items Report contains the following information for each open item that matches the parameters entered on this screen: Document number Document type Document date Apply-to number Due date Reference Closing open items for balance forward customers When you close open items for a balance forward customer, if the total debit amount exceeds the total credit amount for the documents up to the entered cutoff date, all credit documents are closed. Debit documents are closed in order by document date until the total credit amount is expended. If the last debit document cannot be fully paid with the credit amount, a balance forward record is created for the unpaid amount of that debit document, using the same date as the original debit document. If the total debit amount is less than the credit amount, all debit documents are closed. Credit documents are closed in order by document date until the total debit amount is expended. If the last credit document cannot be used to fully pay a debit document, a balance forward record is created for the unapplied amount of that credit document, using the same date as the original credit document. For example, assume you have the following open items on file for a balance forward customer: Document number Document type Date Amount 100 Invoice 12/1/ Invoice 12/5/ Payment 1/2/ If you close open items through 12/31/95, documents 100 and 200 will be left open, along with the payment, and no balance forward transaction is created. If you close open items through 1/31/96, documents 100, 200, and 300 are closed, and no balance forward transaction is created.

12 Customers: Using CounterPoint - Working with Open Items 12 If the amount of document 300 is only $700.00, and you close open items through 1/31/96, documents 100, 200, and 300 are closed. A single balance forward transaction is created with a document date of 12/5/95 and a document amount of $ If you are retaining closed items, the closed item for document 200 will show an amount of $ (until the balance forward transaction is also closed, at which time the amount of the closed item will show $250.00). Closing open items for open item customers When you close open items for an open item customer, all fully paid apply-to groups are removed from the Open Item file. To determine whether an apply-to group is fully paid, the software adds together the document totals for each open item that is dated before the cutoff date and that has the same apply-to number. If this grand total equals zero, then the apply-to group is considered fully paid, and all open items with this apply-to number are closed. For example, assume you have the following documents on file for an open item customer: Document number Apply-to # Document type Date Amount Invoice 12/1/ Invoice 12/5/ Payment 1/2/ If you close open items through 12/31/03, no open items are removed from the Open Item file. As of this date, both apply-to groups have a non-zero balance ($500 for apply-to group 100, and $250 for apply-to group 200). If you close open items through 1/31/04, documents 100 and 300 are removed from the Open Item file. As of this date, the balance of apply-to group 100 is zero. Editing open item information You can edit open item information using either Customers / Change open items / Change open items or Customer / Utilities / Open item maintenance. Change open items Customers / Change open items / Change open items allows changes only to the apply-to number, terms code and due date. Open item maintenance Customer / Utilities / Open item maintenance allows unrestricted editing of open items, including adding, changing any field, and deleting. WARNING: Customer / Utilities / Open item maintenance doesn t produce any account distributions, nor does it produce any audit of maintenance activity. This menu selection should either be disabled on your system, or access should only be provided to users whom you trust to make such changes to the system.

Customers: Using CounterPoint - Working with Open Items 13 Entering open item information Select Customer / Change open items / Change open items.

13 Customers: Using CounterPoint - Working with Open Items 13 Entering open item information Select Customer / Change open items / Change open items. Or select Customer / Utilities / Open item maintenance. NOTE: If you change the document amount, apply-to number, date, or customer number for an existing open item, the document balance may be incorrect until the next aging is performed for the associated customer s account.

14 Customers: Using CounterPoint - Working with Open Items 14 You can use this function to enter outstanding open items or beginning balances for new customers. 1. Customer # Enter the customer number of the open item. Press F1 to scan through the existing open items. Customer is not an A/R charge customer. Is this OK? This question appears if you enter a customer number for a non-a/r charge customer. Specify whether to continue with this customer number by selecting Yes or No. 2. Document date Enter the document date of the open item. Press F1 to scan through the existing open items, beginning with the specified customer. 3. Document # Enter the document number of the open item. Press F1 to scan through the existing open items, beginning with the specified customer and document date. 4. Document type Select: Invoice Payment CR memo DR memo Fin chrg Bal fwd For an Invoice document type For a Payment document type For a Credit memo document type For a Debit memo document type For a Finance charge document type For a Balance forward document type Press F1 to scan through the existing open items for this customer, document date, and document number. 5. Apply-to # This field may be changed only for customers with a balance method of Open item. When adding a new open item for a balance forward customer using Customers / Utilities / Open item maintenance, this field is completed automatically, and cannot be changed. Enter the apply-to number of the open item to edit. Leave <blank> for * Open *, to leave this document unapplied. Press F1 to scan through the existing open items for this customer, document date, document number, and document type.

15 Customers: Using CounterPoint - Working with Open Items 15 NOTE: If you enter an apply-to number for an invoice that is different than the document number and that doesn t exist as another open item document number for this customer, * Unapplied * appears below the apply-to number, and (Not applicable) displays for Terms code. Invoices should generally be self-applied documents, where the apply-to number is the same as the document number. For most documents, you can enter a short ticket number of 1-6 digits (e.g., 153), and the software will look for the appropriate long document number (e.g., ) using the store-# prefix for This store (specified in Setup / Point of Sale / Control), or the equivalent 6- digit document. 6. Terms code (Not applicable) displays if this open item is a Payment, Credit memo, Balance forward, or Finance charge type document, or a Debit memo or Invoice type document with an apply-to number different than the document number. Enter the terms code for this open item. 7. Due date Enter the due date for this open item. 8. Amount This field is display-only when using Customers / Change open items / Change open items, and cannot be changed. Enter the base amount of this open item. 9. Other amount This field is display-only when using Customers / Change open items / Change open items, and cannot be changed. Enter any miscellaneous amount for this open item, such as tax or write-off amounts. Balance This display-only field appears only for self-applied invoices, finance charges, and debit memos, and shows the balance of the open item. (Self-applied documents are those with identical document and apply-to numbers.) An open item s balance is the total of all open items with the same apply-to number. 10. P.O.# This field is display-only when using Customers / Change open items / Change open items, and cannot be changed. Enter the P.O. number associated with this open item. To skip this field, leave <blank>.

16 Customers: Using CounterPoint - Working with Open Items Order # This field is display-only when using Customers / Change open items / Change open items, and cannot be changed. Enter the order number associated with this open item. To skip this field, leave <blank>. 12. Reference This field is display-only when using Customers / Change open items / Change open items, and cannot be changed. Enter any reference information for this open item. To skip this field, leave <blank>. 13. Sales rep This field is display-only when using Customers / Change open items / Change open items, and cannot be changed. (Not applicable) displays if you specified in Setup / System / Company that you don t use sales reps. Otherwise, when adding a new open item using Customers / Utilities / Open item maintenance, the sales rep assigned to this customer in Customers / Customers displays as the default. Enter the sales rep associated with this open item. 14. Store # This field is display-only when using Customers / Change open items / Change open items, and cannot be changed. Enter the store number associated with this open item. To skip this field, leave <blank>. Do you wish to age this customer now? This question appears after you press Enter at Field number to change? only if you are using Customers / Change open items / Change open items and you changed open item information. Specify whether to age this customer now by selecting Yes or No. If you answer No, the customer s aged balances may be incorrect until the next time the customer is aged.

If you have previously saved parameters for statement printing, these parameters display automatically. Press: F1

If you have previously saved parameters for statement printing, these parameters display automatically. Press: F1 1 Customers: Using CounterPoint Printing Statements Overview Customer statements are generally printed at the end of each billing cycle (e.g., at the end of each month). CounterPoint provides three pre-defined