RE: IFM, Automated Cash Receipts and Taxes

["Bob Tenney" <bobtenney@xxxxxxxxxxxxx>]

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