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The A/R Master settings are responsible for defining the default payment terms, as well as auto generation of the account number.
The Invoice Default Parameters section determines if the line item description and reference descriptions are optional. Although the two descriptions can be optional, it is better to have this information appear on the A/R invoice.
An optional Prepayment G/L account is added for any A/R Invoices that may have over payments. An optional Prepayment G/L bank account should be added for the offsetting entry.
The Account Type tab has the following options:
•Edit
Use the following steps to edit the accounts receivable settings:
1. Click on the System tab, click Settings, and select Accounts Receivable. The A/R Master tab will be selected by default.
2. Click on the Edit button to make fields available.
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3. If applicable, click on the Default Terms (0-99) drop-down menu to select or update the default payment terms.
4. If applicable, select or deselect the Auto-Generate A/R Account Number selection box.
5. If applicable, in the Invoicing Default Parameters section, select or deselect any of the following selection boxes: Make Line Item Description Optional and/or Make Reference Description Optional.
These selection boxes pertain to the lines that displayed in an accounts receivable invoice. They are recommended to provide further detail to the A/R invoice.
6. If applicable, enter or update the Prepayment G/L Account and/or Prepayment Bank G/L Account or click on the Search icon to search for a G/L Account.
Note: Refer to How to use G/L Search Wizard for more information on how to use this feature.
7. Enter a note in the New Note field.
Note: Notes entered in this field will be saved and may be viewed in the Notes History section and are read-only.
8. Click on the Save button to confirm the changes or click on the Undo button to remove all input information and reset the fields to their default values.