Receivable Types Assignment

When you set up your AR companies, the AR Company program prompts for a receivables type in two different locations.

When you set up your AR companies, the AR Company program prompts for a receivables type in two different locations:

  • Info tab - You must enter the default Receivable Type that will be used to determine which GL accounts will be affected when posting invoices and payments.

  • Finance Charges tab – You must enter the default Receivable Type that will be used to determine which GL accounts will be affected when posting finance charges.

You may also define a default Receivable Type when setting up customers (in AR Customers), contracts (JC Contracts), and/or inventory locations (in IN Locations or IN Location Category Override).

  • AR Customers – Receivable types assigned to customers are used when entering AR transactions (e.g. invoices, receipts, finance charges, etc.). If no receivable type is assigned to the specified customer, the default receivable type defined in AR Company Parameters will be used.

  • JC Contracts (JB Info tab) – Receivable types assigned to contracts will be used when entering job billings (in Job Billing), and will determine the GL accounts updated when the billing is interfaced. If no receivable type is assigned to the specified contract, the receivable type assigned to the contract’s customer will be used. If no receivable type is assigned to the customer, the receivable type assigned in AR Company Parameters is used.

  • IN Location Category Override/ IN Locations – Receivable types assigned to a location/category or location will be used when entering invoices in Material Sales, and will determine the AR account updated when materials are sold to customers from the specified location. If no receivable type is assigned to the location/category level or the location (respectively), the receivable type assigned to the customer is used. If no receivable type is assigned to the customer, the receivable type assigned in AR Company Parameters is used.

Note: If you selected the Allow Overrides of Receivable Type option (Info tab, AR Company Parameters), any of the default receivable types may be overridden during transaction posting.