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Reviewing Financial Statements and Accounts Receivable Reports

This job aid contains step-by-step instructions related to preparing of statements and reports in MYOB Acumatica.

Reviewing and Releasing Unreleased Accounts Receivable Documents

  1. Open the AR Edit (AR611000) report.

    1. On the Report Parameters tab, select the company or branch related to the documents in the Company/Branch box.

    2. In the From Period box, check the start period of the documents to be included in the report.

    3. In the To Period box, check the end period of the documents to be included in the report.

    4. In the Customer box, specify a customer whose documents you want to include in the report.

    5. In the Created By box, specify a user who created transactions which you need to include in the report.

    6. Select the Include Transactions on Hold check box to include transactions that have the Hold status (if applicable).

    7. Click Run Report.

  2. In the report that opens, click the reference numbers of the invoices with the On Hold status.

  3. On the Invoices and Memos (AR301000) form that opens for each invoice, click Release on the form toolbar to release the document.

 

Reconciling Open Customer Documents with GL Account Balance

  1. Open the AR Balance by GL Account (AR632000) form.

  2. On the Report Parameters tab, in the Report Format box, select Open Documents.

  3. In the Company/Branch box, review the name of the company or branch selected and change it, if needed.

  4. In the Financial Period box, check the period that the report should cover and change it, if needed.

  5. Clear the Include Applications check box.

  6. On the form toolbar, click Run Report.

The report displays the AR accounts used in accounts receivable documents, along with the list of documents that the team posted to these accounts and that remain open by the end of the period.

 

Preparing the Trial Balance Summary

  1. Open the Trial Balance Summary (GL632000) form.

  2. On the Report Parameters tab, in the Company/Branch box, check the name of the company or branch for which you will prepare the report and change it, if needed.

  3. In the Ledger box, select the ledger that should include the documents in the report and change it, if needed.

  4. In the Financial Period box, check the period that the report should cover and change it, if needed.

  5. Select the Suppress Zero Balances to remove accounts that have all zero values from the report.
    The report shows the balance of an account. It is the total amount of the transactions posted to this account in the general ledger by the end of the specified period.

  6. Compare the balance of the selected general ledger account according to the AR Balance by GL Account (AR632000) report and the Trial Balance Summary (GL632000) report.

 

Validating Customer Balances

  1. Open the Recalculate Customer Balances (AR509900) form.

  2. If needed, select a particular class in the Customer Class box to see only customers of the class in the table. The system will display customers of all classes in the table if you leave the box blank.

  3. In the Fin. Period box, select the financial period for which you want to recalculate customer balances. The system selects the earliest open period in the accounts receivable subledger by default.

  4. Do one of the following:

    1. On the form toolbar click Process All to recalculate the balances of all the customers listed in the table.

    2. On the form toolbar select the unlabelled check boxes and click Process to recalculate the balance of customers.

 

Closing a Financial Period in AR

  1. Open the Close Financial Periods (AR509000) form.

  2. In the To Year box, select the latest year in which you want to close financial periods.

  3. Select the appropriate unlabeled check boxes to specify the open periods you want to close. Click the unlabeled check box in the header row to select all displayed periods for closing.

  4. On the form toolbar, click Process or Process All to close all the periods.

 

Preparing Customer Statements

  1. Open the Prepare Statements (AR503000) form.

  2. Do one of the following:

    1. On the form toolbar, click Process All to prepare statements for all statement cycles.

    2. On the form toolbar, select the appropriate unlabelled check boxes and click Process to prepare statements for only selected statement cycles.

 

Printing or emailing customer statements

  1. Open the Print Statements (AR503500) form.

  2. In the Statement Cycle box of the Selection area, select the statement cycle that will process customer statements.

  3. In the Statement Date box, check the date of the customer statements to be sure that it is the date you want to use.

  4. In the Actions box, do one of the following:

    1. To print statements to send them to customers by postal mail, select Print Statement. As a result, the system displays the list of customers (for the selected statement cycle) that prefer to get a printed version of a statement.

    2. To send statements to customers electronically by email, select Email Statement. As a result, the system displays the list of customers (for the selected statement cycle) that prefer to get a statement by email.

  5. On the form toolbar, do one of the following:

    1. Click Process All to process all the listed statements.

    2. Select the unlabelled check boxes for the statements and click Process to process only selected statements.