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
19117 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

For many businesses, a high-powered ERP can streamline processes, increase efficiency, and strengthen the bottom line—at least in theory. In reality, some companies miss out on the opportunity to achieve greater ROI by overlooking a few fundamental truths about ERPs.

1. Implementation takes longer than usually anticipated.

2. Company buy-in and sufficient training can predict success.

3. Implementing the full range of features can make the difference between success and failure.

Can your ERP move with you into your next growth phase? Can it scale and flex as your business expands? Is your business making the most of your investment?

Read Full Article

Optimize Your Manufacturing Today!

The Notes Maintenance feature is made up note programs that are accessible from a central location. The Note Text Maintenance (SYS555), Note Type Maintenance (SYS553) and Multi Language Notes Maintenance (SYS556) programs are all available as menu options.

Instead of having to go into separate programs to maintain note settings, the user can set up print options, specify user documents and customize user security levels for specific notes.

The Notes Maintenance feature provides a way to create, revise, delete, and copy note text that are categorized by note types. The print options in Notes Maintenance permit a user to define documents for which the note is intended. This includes base LX documents and custom documents. 

Finally, the notes program provides a way to define notes by assigning document types. For example, a document type can be created named “Invoice.” A note can then be defined to print on all invoice programs without requiring individual entry.

Optimize Your Manufacturing Today!

First7475767779818283Last

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:

12345678910Last

Theme picker

Categories