Tool to Apply Min Check W/H to A/R

Apply Min Check W/H to Accounts Receivable

This special routine allows you to post minimum check withheld amount towards outstanding Accounts Receivable invoices.

Select JIB - Tools for Statements - Apply to A/R - Apply Min Check W/H to A/R

APPLY MINIMUM CHECK WITHHOLD TO ACCOUNTS RECEIVABLE:

If an owner has a minimum withheld amount of $24 and owes $40.00 in Accounts Receivable invoices, you may apply this amount against the oldest Accounts Receivable invoice and reduce the amount he owes to $16.00.

Note: Operating Statements cannot apply his $24.00 minimum withheld toward Accounts Receivable invoices because he owes more in Accounts Receivable invoices than he has in minimum withheld. The owner does not have a positive check amount until his minimum exceeds his balance in Accounts Receivable.

RESTRICTIONS

You may only use this routine if an owner has a greater Accounts Receivable balance than his minimum withheld balance. If his minimum withheld balance is greater than his Accounts Receivable balance, you must run Operating Statements to cut a check for the remaining minimum withheld balance to be released.

HOW IT WORKS

The program will perform a sanity check to verify that the Accounts Receivable balance is greater than minimum withheld balance and that minimum withhold detail exist in the WHDINFO file for this owner. You will be prompted if the sanity check fails.

The minimum withheld amount will be applied as a payment record to the oldest Accounts Receivable invoice in the Accounts Receivable Detail file. The Accounts Receivable Inquiry report will indicate this as a minimum withheld (m/w payment). A payment application type record will be recorded in the Accounts Receivable Detail file and the Accounts Receivable Posting Register. A credit will be posted to general ledger number 11300, Accounts Receivable and a debit will be posted to general ledger number 21011, minimum withhold in the Transaction file. The minimum withhold balance for this owner will be reduced to zero in the Owner/Customer file. The WHDINFO file will be updated for minimum withhold amount released. The Minimum Withhold Detail file will update the Division of Interest file for the amount of revenue and taxes that were included in the minimum withheld amount.

You will be asked to print an Operating Statement for this owner reflecting the Accounts Receivable prior balance amount and minimum withhold release amount applied. The Operating Statement will show the remaining total amount the owner owes for Accounts Receivable invoices. A printout of the update for this owner will show the files updated when you applied the minimum withheld balance against Accounts Receivable invoices.

You may apply minimum withheld amount against Accounts Receivable invoices for only one owner at a time.

FILES UPDATED FOR MINIMUM WITHHOLD APPLIED TO ACCOUNTS RECEIVABLE INVOICES

CUST.DBF - Zero minimum withhold amount used to pay Accounts Receivable invoices.

WHDINFO.DBF - Update file for minimum withhold released amount.

DOI.DBF- Update DOI revenue & tax released amount from WHDINFO.DBF.

ARDET.DBF - Update Accounts Receivable invoices paid from minimum withhold amount.

ARREG.DBF - Update Accounts Receivable Posting Register for Accounts Receivable invoices paid

TRAN.DBF - debit to general ledger number 21011 and credit to general ledger number 11300.