A/R & A/P tab
This is an overview of the window.
1. A/P and A/R Aging
- Default Age By
- Due Date or Doc Date: Aging with be calculated either on the day after the Due Date or the Invoice Date.
- By Month or By Day: If Aging By Month is selected, aging will be calculated by months as a whole, without regard to individual days. For example, if the due date was September 30 and the payment was received on October 1, that payment would still be considered a month past due. If Aging By Day is selected, aging will be calculated by individual days.
- Age Col 1, Age Col 2 and Age Col 3: These fields determine the number of days that make up each aging period. The default is 30, 60 and 90 days.
- Default Payable Aging: The GL Account Code that records the cumulative total of outstanding AP balances owed to Vendors
- Default Receivable Aging: The GL Account Code that records the cumulative total of outstanding AR balances owed to your company.
2. Finance Charges
- Finance Charges Account: The GL Account Code that tracks Finance Charges and Interest on overdue AR balances.
- Date Last Applied: The is the last date that Finance Charges were calculated.
- % per Month: The percentage of monthly interest charged on overdue AR balances
- Minimum Charge: The minimum Finance Charge for late payments.
3. Credit Card Gateway
These settings activate the Credit Card Authorization link in AcctVantage. To use Credit Card Authorization your AV Server must have a live connection to the Internet and you must have a merchant account with Authorize.net.
- Enable: Activates the Credit Card Authorization feature.
- Require AVS: Send the Client's default address information to Authorize.net for address verification.
- Test Mode: Send any credit card authorization requests to Authorize.net as a TEST transaction.
- Gateway ID: Your user ID for the credit card gateway. Assigned by Authorize.net.
- Gateway Password: Your password for the credit card gateway. Assigned by Authorize.net; can be re-generated via their website.
- Default Cash Account: The GL Account Code (asset) that will be debited when Credit Card Charges are reconciled. (The GL Account associated with the Credit Card Receipt Type will be credited.)
- Default Bank Charges Account: The GL Account Code (expense) that will be debited for Credit Card Charge processing fees when the Credit Card Charges are reconciled.
- Time Out Seconds: The number of seconds to wait for a response from the credit card gateway.
- Loop Delay Seconds: The number of seconds to wait to send another request to the credit card gateway.
4. Credit Hold, Checking Defaults and Receipt Defaults
- Days Past Due: A Client who is eligible will be placed on Credit Hold if they have an balance over the Threshold Amount that is this many Days Past Due.
- Threshold Amount: A Client who is eligible will be placed on Credit Hold if they have an overdue balance that is above this Threshold Amount.
- Print Form Type: You can select a pre-formatted commercial check form or you can choose to print checks using your Custom Form.
- Load Open Items: Determines whether AcctVantage will present a list of AR items for a Client when you are entering a Client Receipt. Click here to select the status of ALWAYS, ASK, or NEVER.