Please Wait a Moment
X

Infor LX Tips, Infor LN Tips, BPCS Tips, Baan Tips, Infor M3 Tips & Infor ERP News

Crossroads Connections

Infor ERP Tips & News from the Experts

Infor LX | Infor LN | BPCS | Baan | Infor M3

George Moroses

Infor LX & BPCS Finance Tip: AR Aging

An ACR system parameter allows you to specify whether to measure invoice age from the date on which you create the invoice, invoice date, or the date on which the invoice is due. You can set up a separate terms code for each customer on the system to set the basic terms of payment for that customer. For example, this term could specify the number of days an invoice can be due before it is considered past due and the number of days that a discount is available. The system uses the terms code data to calculate invoice due dates and uses system parameter information to age invoices. Whichever date you specify Accounts Receivable | Run Instructions | 27 ACR Overview to measure invoice age from, the age of an invoice is defined as the number of days between that date and the current processing date.

You also use the Accounts Receivable System Parameters program, ACR820D, to establish five generic aging buckets for your receivables. To determine the time length for each of these buckets, specify the number of aging days for each bucket. The number of aging days aging is the difference between the invoice aging date and the current processing date. You can set the time periods and assign names to each bucket according to your needs.

Each time you generate any of the receivable Trial Balance reports, the system recalculates the age of every invoice. If you use calendar months as financial periods, change the bucket definitions each month to reflect the appropriate 1-month bucket, 2-month bucket, and so on. If you use an aging system based on days, like the one described in the preceding paragraph, you do not need to change the bucket definitions.

Note that you can process future dated invoices if you use a negative age bucket and specify negative aging days.

Previous Article Infor LN & Baan Finance Tip: What Can You Do in the Financial Statements Module?
Next Article Infor LX & BPCS Materials Tip of the Week: Drop Shipments
Print
18923 Rate this article:
5.0
George Moroses

George MorosesGeorge Moroses

Other posts by George Moroses

Theme picker

Contact author

Please solve captcha
x

Tips:  LX | BPCS | M3

FINANCE: Default Billing Reason Code from User Order Class
This enhancement allows users to define a Default Billing Reason Code by User Order Class in addition to the Base Order Class. User Order Classes provide configurability for order processing events and the documents to be printed during those events. This enhancement allows users to configure different Billing Reason Codes for each User Order Class. If no specific code is defined, the system will default to the Billing Reason Code set up for the Base Order Class.

TECHNOLOGY:  Security Manager
New LX security type "M" for an LX Security Manager. Authority is similar to that of an LX Security Office (type "S"), but without the automatic authority to execute every LX program, and without the authority to change the authorizations of Security Officers and Security Managers. Users defined as LX security managers have authority to maintain security information for users other than themselves, but are only allowed to access regular LX programs if granted authority by an LX security officer.

OPERATIONS: Track all order holds added & released
Enhancement: Order Hold Audit Functionality
This enhancement introduces an audit file to track all holds added or released for customer orders. The audit file includes details for various types of holds: credit hold, margin hold, customer hold, user hold, and credit card hold. All applications that add or release a hold now write an audit record, capturing the user, date, time, and program associated with each hold action.

A new IDF Order Hold Audit Inquiry application allows users to review holds based on various criteria:

  • Hold type
  • User
  • Specific order
  • Transactions for a customer within a date range
  • Other combinations

Additionally, the selected data can be printed if desired.

New LX security type "M" for an LX Security Manager. Authority is similar to that of an LX Security Office (type "S"), but without the automatic authority to execute every LX program, and without the authority to change the authorizations of Security Officers and Security Managers. Users defined as LX security managers have authority to maintain security information for users other than themselves but are only allowed to access regular LX programs if granted authority by an LX security officer.

First2345791011Last

Theme picker

Tips: LN | Baan

All actions required for converting, validating, matching, and posting electronically received bank statements can be performed within a single session:

  • Bank Statement Workbench (tfcmg5610m100)
  • Bank Statement (tfcmg5610m000)

Alternatively, you can use the sequence of electronic bank statement sessions outlined below.

Steps to Process Electronic Bank Statements:

123457910Last

Theme picker

Categories