• Subject: RE: IFM, Automated Cash Receipts and Taxes
  • From: "Bob Tenney" <bobtenney@xxxxxxxxxxxxx>
  • Date: Thu, 18 Jan 2001 0:44:6 -0500

The best way to handle this situation is to process the cash receipt against the customer's invoices. When the customer deducts the tax this will leave a debit balance against the invoice.
 
Next resolve the tax problem. If the customer is tax exempt, change the customer's tax suffix. Then use the COM Complimentary Invoice menu option to generate a credit memo for the tax. When this is done, you can allocate the credit memo against the original invoice to close it out.
 
One last point. All of this would be unnecessary if someone set up the tax suffix correctly for the customer or entered an override at order entry time.
 
Bob Tenney
Bob Tenney Solutions, LLC
New Telephone - 404-373-5669
New E-mail - bobtenney@earthlink.net or tenneypubs.com for book orders
 
----- Original Message -----
From: Bolton, Jonathan [F-R/Hatfield-PA]
To: mapics-L@midrange.com
Sent: 01/17/01 7:03:49 PM
Subject: IFM, Automated Cash Receipts and Taxes

We are an IFM shop and would like to implement automated lockbox receipt
processing.  I have successfully sent data into IFM via the Cash Receipt
file (YAGRREP) but the process is not viewed by the users as a timesaver
because of sales tax issues.  We are confronted with a significant number of
tax deductions because customers do not tell us up front that they are
exempt.  Correcting this once the receipt is in IFM does take longer than if
our people do the whole job themselves.  Does anyone have any experience
with trying to automate the creation of transactions based on the detection
of a short payment?
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Bob Tenney
Bob Tenney Solutions, LLC
404-373-5669
 

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