Daily Close #1: Invoice Edit

When all the invoices for a day have been entered, run the Daily Close to begin the posting process for this batch of invoices.
Refer to the Daily Close Overview for procedural information and process flow.

Prior to beginning the Daily Close 1, an optional "dry run" can be done using Trial Daily Close: Invoice Edit.
It is useful to review the trial reports so errors and problems can be identified and corrected before the actual Daily Close is initiated.

Field Ticket Processing
The requirement to assign a Field Ticket to every invoice can be activated in the Company Invoice Parameters.

• When the Field Ticket processing is activated only Cash invoices are processed through Daily Close 1.
  
• On Account invoices do not post through the standard Daily Close 1.
  Instead Field Ticket Billing can be used to identify, approve, and compile charges to form a single invoice for the customer. Billing the selected On Account field tickets merges the invoices and immediately posts them into Batch status ready for Daily Close 2.

Daily Close Features

• Invoice Posting Discrepancy Errors:
  Discrepancies are identified by invoice number with the error warning on the screen.
  A drill down window is provided in the Details column to view the invoice information, as outlined in View Document Information.

  The option to print theDaily Close#1 Invoice Errors report is provided.

  After the errors have been fixed re-run the Daily Close for that same DBR#.

  Errors include:

  • INVOICE# XXXXXX INVOICE DETAILS DO NOT EQUAL INVOICE TOTAL

  • INVOICE# XXXXXX PAYMENT TOTAL DOES NOT EQUAL INVOICE TOTAL

    To correct either of these invoice balancing errors, re-access the invoice in Miscellaneous Invoices, Point Of Sale Invoices, Work Order Invoices or Sales Order Invoices, according to the source. In Change mode, move through the header, details, and payments screens to cause the invoice totals to be re-calculated correctly.

  • INVOICE# XXXXXX LOCKED BY USER: XXX:pts_#

    To correct this error, confirm that no user is currently reviewing the invoice and re-access the invoice in Miscellaneous Invoices or Point Of Sale Invoices, or release them in the Reset Invoice in Use utility.

    Note: Because W.O. Invoices cannot be re-accessed directly, use the Reset Invoice in Use utility to release them.

  • INVOICE# XXXXXX INVOICE HAS NO DATE

    To correct this type of Date error, re-access the invoice in Change mode and add the invoice date back into the header. This date then becomes the posting date in the G/L as well as the invoice date in the A/R sub-ledger.

  • INVOICE# XXXXXX ERROR ON INVOICE DETAILS

    When an invoice in the DBR is currently in use at another workstation, the Daily Close program will retry to read and process the invoice twice, and if it still cannot be read and included in the Daily Close, an error will be written to the error log to warn the operator that invoice must be released from the locking workstation in order to post the DBR.

  • INVOICE# XXXXXX BILL TO POSTAL/ZIP HAS THE INCORRECT FORMAT

  • INVOICE# XXXXXX BILL TO POSTAL/ZIP IS MANDATORY

    To correct either of these invoice Billing mailing Postal/Zip code errors, re-access the invoice in Miscellaneous Invoices, Point Of Sale Invoices or Sales Order Invoices, according to the source. In Change mode, correct the Bill To Postal/Zip Code.

    A flag in the Required Document Information in the Company Contract Parameters has been set to force the operator to enter a valid Postal or Zip code to match the mask format as setup for the customer's currency in Currency Codes.

  • VERTEX TAX CALCULATION DOES NOT MATCH INVOICE

    SRM calls Vertex in the Daily Close 1 to confirm the tax amount on the invoice is unchanged.
    To correct a discrepancy, re-access the invoice in Miscellaneous Invoices the tax amount will be corrected by recalculating.

• Prior Batch/DBR# Errors:
  There are only 3 issues that could cause an error of a pending posting being assigned to a prior Batch or DBR in Daily Close 1.
  There could be more than one entry of each but it just reports on the last one it finds.
  This include:

  • INVOICE (RSIH)
    To fix: Put the invoice on hold and off hold again to reassign it to the current DBR

  • PMT DETAIL (RSMT)
    To fix: Contact Texada Support to Use Counter Method of Payments/DBR utility for file RSMT to change an invalid Method of Payment on a Counter Payment.

  • A/R PAYMENTS (ARDL)
    To fix: Contact Texada Support to use Fix ARDL DBR# utility for file ARDL to change the ARDP_RS_DBR_N to the current DBR #

• Maximum Detail Lines Exceeded:
  Any invoice exceeding the Maximum Detail Lines is identified and to continue, the number of product detail lines must be reduced to less than 999 on the invoice.
  This can be accomplished by removing the excessive number of lines and adding them to a new invoice.

• Invoices Held Requiring a Purchase Order:
  The P.O. hold report lists any invoices requiring P.O.#'s that do not yet have one assigned.
  The requirement for a P.O.# can be setup for customers in Customer Information. A blanket P.O.# can also be assigned for a customer.
  Invoices identified on this report without P.O.#s, will not be included in this Daily Close. Instead they are given a Hold status to prevent posting.
  The invoices must then be assigned a P.O.# in Miscellaneous Invoices and released from Hold status using Hold/Release Current Invoices to become eligible for posting in the next DBR.

  This report is suppressed if there are no applicable invoices.
  This feature does not apply to invoices generated from a Work Order or the Point Of Sale Invoice program.

• Print Approved Invoices:
  Special V.I.P. customers can be assigned a Daily Close 1 Approval Code in the Customer Information, so that all invoicing to that customer can be personally monitored before posting, and until approved the invoices do not print any pricing, with the exception of W.O. Invoices where amounts and totals for service and parts used do print on the W.O. Invoices though they are still are held for Approval before posting.
  This feature does not apply to credit invoices that post through Credit Daily Close 1.

  When Daily Close 1 is initiated, any new invoices that require approval will be flagged on Hold as of the Daily Close date, to delay posting.

  If Crystal or Jasper forms are used to print the invoice before it is approved, the comment associated with the Daily Close 1 Approval Codes replaces the document title in the header and also prints in the footer.
  After it is release, a final invoice with pricing is automatically printed during the Daily Close 1 posting.

  Any approved invoices that have been released from Hold status automatically, or in the Daily Close Invoice Approval or in the Hold/Release Current Invoices utilities, will print or be emailed with the final pricing to relevant Contacts when the next Daily Close 1 is initiated.
  To auto email invoice the Use Contact Document Emailing feature can be activated in the Company Email Configuration.
  When the invoices are emailed or printed a Document Reprint Log is generated listing the documents with recipients.

  Note: If the Daily Close is not accepted, the approved invoices will be reprinted again when it is re-run.

• Invoice Edit Report:
  The Invoice Edit Report prints a list of the invoices entered and their amounts.
  The software verifies that invoice payment totals match the invoice paid amounts. Any invoices not balanced will be stopped and must be corrected before the posting can proceed.
  On the edit list, manually check that all invoices are included, to catch data entry errors before posting.
  A quick way to check is to make an adding machine tape of the invoices and compare the tape total to the report total. Be sure to check that the total amount On Account is correct, to ensure that "PAID" invoices are not posted to Accounts Receivable by mistake.

• Balancing the Cash Clearing Accounts:
  The Cash Over/Short feature can be activated in the Company Daily Close Parameters.
  This processing provides an on-screen cash-out reconciliation by payment method, and automates the postings to the bank from the clearing accounts identified in Method Of Payment Codes.

  Note: Because the Credit Invoice program has its own Daily Close 1 - Credit Invoice Edit program so that work done by Accounts Receivable staff will not interfere with the counter staff, credit amounts are not reflected in the Cash Reconciliation balancing.

  • Cash Reconciliation screen information:
  • View only windows are provided to review the cash amounts for each payment method on the Opening Cash, Deposits Taken, Cash Invoices and On Account fields.
    In each 'Payment Method' window, a window on the 'Amount' field is provided for each payment method listing the document information with the cash amounts.

    Payment methods that should or should not be included in the cash reconciliation can be flagged to Bal in the Method Of Payment Codes with the corresponding Bank Account for posting.

  • Window on the Less Bank Deposits or the Actual Closing Cash fields to update the amounts to be deposited, and to be left on hand in the cash drawer, or amount over/short.
    Any Cash discrepancies entered in the Over/Short column are posted by currency to the "Cash Over/Short" account assigned in Default Accounts.
    

    When payment methods are flagged in the Method Of Payment Codes to be included in the Cash Reconciliation, an optional Expense Percent to apply for Credit Card payment methods can be assigned so that a percent fee is paid when the deposit is made.
    Any calculation can be viewed in the expanded record in the Actual Closing Cash window.

  • If for some reason the Cash Balance values are out of balance contact Texada Support to assist in correcting them with the Daily Close Cash Balances utility.

  The clearing transactions are printed and posted with the Rental Journal Transactions in Daily Close 3.

  Note: Prior to activating this Cash Over/Short processing in Company Daily Close Parameters, post all outstanding DBR's.
  Outstanding DBR's can be identified in Hold/Release Current Invoices.

  If your firm is posting the Daily Close by division, as activated in the Company Daily Close Parameters, then when Daily Close 2 is initiated, a window pop-up is generated displaying the division cash balances in ascending date order.
  This can be useful to confirm that the store managers at multiple divisions are running the cash balances.

• Payments with Invalid DBR#:
  This screen is only triggered if a payment was assigned an incorrect DBR number.
  Click ACCEPT to re-assign it to the current DBR# and continue posting.

• Daily Close #1 Freeze Option:
  To help control the timing of the daily posting runs, a time can be set freezing access to DAILY CLOSE 1 to prevent the it from being run after this time each day. The operator is warned that Daily Close 1 is frozen for that day.
  To activate this feature refer to the flag in the Company Daily Close Parameters.

• Manufacturing Postings:
  Any invoices selling a manufactured product to a customer directly from Manufacture Receiving are included in the next Daily Close with the standard invoices.

Running the Daily Close
The screen displays the number of invoices currently On Hold and the total dollar value.
These could be Sales Approval required invoices or Invoices requiring a P.O.# or they could be held from posting for other reasons.
Refer to Hold/Release Current Invoices for details and to release these invoices when appropriate to post in the next DBR.

The prompts to initiate the Daily Close 1 are:

DIVISION

This prompt only appears if the option to Post DBR by Division is set in the Company Daily Close Parameters.
Enter the correct division or location, or select it from the window.
Note: Posting Daily Close by Division allows different locations or branches to post simultaneously.

DAILY BUSINESS BATCH #

This prompt only appears if the option to Post DBR by Division is set in the Company Daily Close Parameters.
This field defaults to the next Batch # or select the correct Batch # for the range of DBR's required from the window.

If there are any Invoices on Hold for this division a spreadsheet is generated to list invoices in previous batches, with invoice #, customer #, DBR#, and on hold flag.
This is information only and is useful for follow-up on unposted invoices.

As soon as Daily Close #1 is started, any subsequent invoice entered will be added to the NEXT DBR #.
If invoices are entered in lots or bundles, begin entering the next lot even if the current lot is not balanced. This is true, even if Daily Close #2 or #3 has not been run.

DAILY BUSINESS REPORT # __

This prompt only appears if the option to Post DBR by Division is NOT activated.
The current DBR # will display.

Accept this default to post the next DBR#, or over-type with the desired DBR#.
As each invoice is entered, it is assigned to the current DBR (Daily Business Report) Number.

DBR Inquiry

When the feature to Post by Division is not activated, a window is provided to view a summary of DBR's that have been not been completed, with the number of invoices to be posted in each DBR, the number of invoices in each DBR that are flagged on HOLD, and the number of deposits that will be posted in each DBR.
This is useful to identify DBR's that need to be run to post the invoices.

PRINT PAYMENT METHOD DETAIL

This is an optional report, which may be very useful in balancing that cash drawer.
While the Bank Deposit Worksheet indicates the grand totals by division for each Method of Payment, this report provides the details of a particular Method Of Payment if the cash drawer amount does not agree to the Bank Deposit Worksheet.
For each payment method selected, the Detail Report shows the customer name, amount paid, the source - reservation, contract or invoice #.

PRINT CASH BALANCE REPORT

The Cash Control report is optional.
It lists the cash taken in at the counter by the different operators, with document and method of payment information.
The output can be generated in detail or summarized.

Note: This report includes Counter Payments but does not include payments received through the AR department.

CASH RECONCILIATION POST DATE

This date applies to the 'Cash Over / Short' feature activated in the Company Daily Close Parameters.
This G/L posting date for the "Cash Balance" journal transactions generated from the Cash Reconciliation, defaults to today's date but can be reset (usually back dated) to reflect the date the actual bank deposit was made to more accurately match your bank statement.
This date respects Date Range Control for the module GLET.

Finished?

A printer can be selected from the Printer option located on the menu bar at the top of the screen.

Click CANCEL to abort this report and the posting function.

Click the ACCEPT to begin the Daily Close #1. The following reports will print:

• Held Invoices Without a P.O.# - lists any invoices in the batch requiring a P.O.# that do not yet have one assigned.
  These invoices are put On Hold until a P.O. is assigned and they are released in Hold/Release Current Invoices.
• Invoice Edit Report - provides a list of invoices entered since the last Daily Close #1.
• Performance Summary - subtotals the rentals and sales by Product Class.
  (Optional- controlled by flag in Company Daily Close Parameters)
• Deposits Journal - lists new customer deposits from contracts/reservations.
• Bank Deposit Worksheet - is a summary of cash receipts and A/R payments by division.
• Cash Control Report - lists cash amounts taken in by operator in counter transactions with the method of payment, including Counter Payments and excluding AR Payments.
  (Optional- prompt for in DAILY CLOSE 1)
• Method of Payments Report - provides an analysis by revenue by method of payment.
  (Optional- prompt for in DAILY CLOSE 1)

CASH BALANCING RECONCILIATION

If activated the cash-out screen for this DBR displays.

Setup:

• This screen only displays if the Cash Over/Short feature has been activated from the Company Daily Close Parameters.
• An 'Over/Short Default' value can be set in Company Daily Close Parameters that controls whether the outstanding dollar amount to be reconciled is initially displayed::
  • as the Actual Closing Cash until the dollars are moved to the "Deposit Amount" column in the Actual Closing window
  • as fully deposited in the Less Bank Deposits field with the associated the deposit distribution by payment method in the Less Bank Deposits window
  • all dollars taken today displayed as deposited, except for any Ending Cash On Hand carried from the previous day
• Any payment methods that should or should not be included in the Cash Reconciliation, can be flagged in Method Of Payment Codes, and assigned the relevant Bank Account for posting.
• Startup values for each payment method can be entered in Reconcile Cash Closing Balances.
• Payment methods that require a deposit fee such as Credit Cards, can be identified in Method Of Payment Codes where the Expense Percent and Expense Account can be assigned.

                            Cash Reconciliation

Opening Cash:                  100.00      From Invoice#:    5345
                                           To Invoice#:      5373
Customer Deposits Taken:       135.00      # Of Invoices:      25
Total Cash From Invoices:      645.50
Received On Account:          1680.16      Cash Invoices:       645.50
Less Bank Deposits:           2460.66      Account Invoices:    527.80
                             --------                         --------
Calculated Closing Cash:       100.00      Total Sales:        1173.30
Actual Closing Cash:            99.58
                             --------      Customer Deposits:  1355.00
Cash Over/Short Amount:           .42-     Previous Day:       1306.10

Print Reconciliation Report:

DBR Invoice and Deposit Information

On the right on the screen the DBR information is display only and cannot be changed here.
This includes:

FROM INVOICE#

This is the first invoice included in the DBR.

TO INVOICE#

This is the last invoice number included in the DBR.

# OF INVOICES

The total number of invoices included in the DBR is displayed.

CASH INVOICES

The total amount of paid invoices in this DBR is displayed.
This figure does include invoice amounts actually paid by deposits previously taken on the Contract, Reservation, or Order.

ACCOUNT INVOICES

The total dollar amount for invoices charged On Account, from this DBR is displayed.

TOTAL SALES

The sum of the Cash and On Account invoices is displayed.

CUSTOMER DEPOSITS

This value represents the total value of all deposit amounts currently being held.
It is calculated as the previous accumulated deposits plus deposits from this DBR, less deposits used in this DBR.

PREVIOUS DAY

This is the total accumulated deposit amount at the end of the last DBR.

On-Screen Cash-Out

Use the left side of the screen to agree the actual amounts taken, with the totals from the DBR for each method of payment.

OPENING CASH

The total opening Cash On Hand in the cash drawer displays as of the start of the DBR.
Window to view the breakdown by payment method. These values cannot be changed.

Note: To enter the first start-up values use Reconcile Cash Closing Balances.

CUSTOMER DEPOSITS TAKEN

The total deposits taken on Contracts, Reservations, and Sales Orders, displays. This value cannot be changed.
Window to view the breakdown by payment method.
Window again on the "Amount" field, to view the division, operator, deposit source, document#, amount for each deposit, and customer name.

TOTAL CASH FROM INVOICES

The total amount received for payment on invoices that have NOT been charged On Account, displays.
Window to view the details by payment method.
Window again on the "Amount" field, to view the division, operator, deposit source, document#, amount and customer name.

RECEIVED ON ACCOUNT

The total amount received as payments in A/R or from the Counter against customer accounts, is displayed only if the flag to Include Customer Payments In The DBR is set in the Company Daily Close Parameters.
Window to view the details by payment method.
Window again on the "Amount" field, to view the division, operator, deposit source, document#, amount, and customer name.

Note: Current Counter payments display as they are posted with the Daily Close, but A/R payments are only included if they have been posted since the last Daily Close 1 was run.

LESS BANK DEPOSITS

Initially this field displays as zero, unless the Over/Short Default default value in the Company Daily Close Parameters is set to the Deposit Amt option, and then the amount initially displayed in this field shows the Opening Cash as fully deposited, with the associated the deposit distribution by payment method in the Less Bank Deposits window.

Window to access the DBR receipts detail by Method of Payment, and to enter the actual amounts to be deposited in the bank and the actual amounts to be left On Hand (e.g. in the Cash Drawer).
The prompts are:

METHOD

The method of payment code displays per the codes setup in Method Of Payment Codes.

DESCRIPTION

The method of payment description displays.

DEPOSIT AMOUNT

Enter the amount to be deposited in the bank for each method of payment.
The G/L clearing account to be credited and the G/L bank to be debited are determined in Method Of Payment Codes.

Note: When the deposit amount is entered, the Over/Short is automatically updated to reflect the change.

ENDING CASH

This is the calculated ending cash on this DBR for this payment method, after the Deposit Amount is entered.

CASH ON HAND

Enter the dollar amount for each method of payment that is to be left On Hand after the deposit is made. (e.g. amount left in the Cash Drawer)
This dollar amount becomes the Opening Cash balance on the next DBR.

Note: When the cash left On Hand is entered, the Over/Short is automatically updated to reflect the change.

OVER/SHORT

The dollar amount over or under is displayed.
This is the difference between the calculated amounts from the DBR information, and the amounts just entered for the bank deposit and for the cash to be left On Hand.
A window is provided to view the amounts used in the Cash/Short calculation.

EXPANDED RECORD

Click EXP/CON to view any Expense % fee and the actual amount that is paid, when the deposit for this Credit Card is made. This amount is calculated as a percent of the deposit amount for this method of payment.
The percent and posting expense account are setup in Method Of Payment Codes.

Account Errors:
If any of the G/L Bank or Clearing accounts in Method Of Payment Codes or the Cash Over/Short accounts in Default Accounts, are missing or invalid, a warning for that payment method will be displayed at the bottom of the screen.
The DBR will not be accepted until these G/L accounts are provided correctly.

CALCULATED CLOSING CASH

The total cash at closing less the bank deposit is displayed per the DBR information and calculations.

ACTUAL CLOSING CASH

Initially this field displays as zero, unless the Over/Short Default default value in Company Daily Close Parameters is set to the Actual Cash option, and then the initial amount displayed in this field defaults from the Opening Cash, and the value in the Less Bank Deposits is zero instead.
Amounts change to reflect the amounts entered for deposits and cash on hand in the window on the Less Bank Deposits field.

When the reconciliation is finished, if this Actual Closing Cash amount is not correct, window to re-access the DBR receipts detail by Method of Payment, and confirm or re-enter the actual amounts to be deposited in the bank and the actual amounts to be left On Hand (e.g. in the Cash Drawer).
This window is the same window that is accessed and explained in the Less Bank Deposits field.

CASH OVER/SHORT AMOUNT

As amounts are reconciled in the Less Bank Deposits window, any Cash discrepancy between actual closing cash and the calculated closing cash, is displayed as the Over/Short Amount, where any cash shortage or under, displays with a negative sign.

When the DBR is accepted, the Cash Over/Short Amount posts to the expense account assigned by currency in Default Accounts.

PRINT RECONCILIATION REPORT

A printer can be selected from the Printer option located on the menu bar at the top of the screen.
Check this checkbox to generate:

• the Reconciliation report
• the Bank Deposits detail that summarizes the reconciliation information by payment type
• the Deposit report by customer for only the payment methods flagged to "Include in Bank Deposit Report" in the Bal GL window of the Method Of Payment Codes table

Uncheck this box to skip the optional Reconciliation report. The prompt "Report Totals OK" will also be skipped then.

Finished?

Click ACCEPT at the bottom of the screen to continue with the DBR, or click CANCEL to abort.

REPORT PRINT OK

Click YES in the pop-up confirmation dialogue box if the Cash Balancing report printed successfully.
This accepts the DBR, moves the invoices to Batch, and generates the postings to the banks, the clearing accounts, the Credit Card fees, and the Cash Over/Short.
These cash reconciliation posting transactions print and post with the "Rental Journal Transactions" from Daily Close 3
After the Cash Reconciliation report is accepted, it can be reviewed and reprinted only from Review Cash Reconciliation.

Click NO to prevent accepting the bank deposit, cash clearing, and cash over/short transactions.
The DBR posting is aborted.
This DBR must be re-run from DAILY CLOSE 1: INVOICE EDIT, and the "Cash Balance" report must be accepted, before the next DBR can be run.

Note: Permission to accept and post can be controlled by the Security Roles defined for the operator in Operators, and required for Daily Close 1 (RDIH10B) as set in Module Passwords.

• If RDIH10B is listed in Module Passwords the following apply:
• Operators not included in a security role with permissions to RDIH10B, can print the report but can never initiate the posting.
• Operators that are assigned a security role that does have permission for RDIH10B are always prompted for the password to complete the posting.

REPORT TOTALS OK

This prompt only appears if the On-Screen Cash-Out option is NOT used, or if the "Reconciliation Report" is printed.

Click NO if changes or corrections are required.
To make corrections, review the invoice using Miscellaneous Invoices or Point Of Sale Invoices. If deposit corrections are made, any corrections or adjustments do not post until the next DBR, unless the deposit correction is "moved" back using the Update Deposit DBR# utility.
After completing the corrections, re-run Daily Close 1 with the same DBR# as the first edit.
The DBR# now displayed during Daily Close #1 will be for the next lot, so over type this with the correct DBR number.

Click YES if the invoice totals are correct. By accepting the Report Totals, the invoices from this DBR will be moved from CURRENT to BATCH, meaning that the invoices will no longer be accessible for corrections or changes.
All invoices in the BATCH will be eligible to be posted in Daily Close #2 and #3.

Once the Daily Close has been accepted, that specific DBR # cannot be reprinted from here.
It can be reprinted from Reprint Daily Business Reports.

Posting Control Daily Close #1
The Daily Close Invoice Edit program is designed to be run by one operator at a time per division/location.
If your company Posts DBR by Division, set the prompt in the company Company Daily Close Parameters. This allows different branches to post simultaneously.
Locking will occur if another operator attempts to run the program at the same time, or if the first operator did not exit the posting program correctly.
A Posting Control Information warning will appear on the screen preventing the second operator from proceeding, and only operators with Security Role permission to reset the Daily Close 1 - Invoice Edit flag will have access to the RESET button that unlocks the program.
Whenever the posting control flag for Daily Close 1 is reset, a record is written to the Delete Log for the Function RDIH50A.

Refer to Daily Close 1/2/3 Process Locks for further status on GLPF locks for this function.

Locking will occur whether Post DBR By Division is on or off.
If it is on, only specific divisions get locked by Daily Close #1, and if it is off the all divisions get locked by Daily Close #1.

Post Customer Payments will also lock the Daily Closes and a locking message will be triggered.