Getting started with accounts receivable - beginning balance invoices
Why create beginning balance invoices?
When you begin using accounts receivable with AIMsi, you will want to create an invoice for each customer account with an outstanding balance. This enables you to pull forward into a new invoice any outstanding charges and keeps your accounts receivable records up-to-date. The invoice you create is referred to as a "beginning balance" on the customer account.
What are my choices?
You have three choices to create your beginning balance invoices. You can create an itemized or non-itemized AIMsi invoice for each outstanding customer invoice (a 1:1 ratio) or you can create one AIMsi invoice for multiple outstanding invoices (1 invoice per customer).
Create an itemized AIMsi invoice for each outstanding invoice
If you choose to create an itemized AIMsi invoice for each outstanding customer invoice, follow the steps in Creating a new sales invoice. Be sure to change the Date box to the original invoice date and change the Ref# box to the original number. In the Collect box, enter 0.00 to charge the full sale price to the customer's account.
Create a non-itemized AIMsi invoice for each outstanding invoice
You may choose to create a new invoice without adding specific inventory items. Do so by following the steps in Creating a new sales invoice but enter only a single item using the Debit Adjustment* category. Enter the outstanding balance of the original invoice as the Price ea value for the new invoice. Be sure to change the Date box to the original invoice date and change the Ref# box to the original invoice number. In the Collect box, enter 0.00 to charge the full sale price to the customer's account.
*By default, the Debit Adjustment category is not taxable and additional tax will not be applied to the invoice total.
Create an AIMsi invoice for a group of outstanding invoices
If you choose to create one AIMsi invoice per customer account, follow the steps in Creating a new sales invoice but enter only a single item using the Debit Adjustment* category. Enter the outstanding balance on the customer account as the Price ea value for the new invoice. In the Collect box, enter 0.00 to charge the full sale price to the customer's account.
*By default, the Debit Adjustment category is not taxable and additional tax will not be applied to the invoice total.
Customer payments
Enter customer payments against these outstanding invoices as O/A (Open Account) payments. Refer to Open Account Payment for more information about this payment type.
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