General Ledger Entries Tips and Tricks

General Ledger entries in netFORUM are made from the following types of netFORUM accounting transactions.

Preconditions that must be met first:

• All charge codes are setup and assigned to prices
• All accounts are setup in the client information form in Accounting setup

Invoice Creation

DR: A/R from charge code

CR: Revenue from charge code

Create Invoice/Payment

For Invoice:

1. Invoice entries refer to invoice creation

For Payment portion:

• DR: cash account
• CR: A/R from charge code

Create Invoice/Payment Using Available Credits

For Invoice:

1. Non-split price entries refer to invoice creation

For Payment portion:

• DR: Credit account from Credit transaction
• CR: A/R from charge code

Cancel Unpaid Invoice

Reference: Cancelling an Invoice

For Invoice:

1. Invoice entries refer to invoice creation

Cancellation accounts:

• DR: Return account
• CR: A/R from charge code

Cancel Invoice/Payment with Full Credits for a Fully Paid Invoice

For Invoice:

1. Invoice entries refer to invoice creation

For Payment portion:

• DR: cash account
• CR: A/R from charge code

For Credit portion:

• DR: Revenue from charge code
• CR: Liability account

Cancel Invoice/Payment with Full Credits for a Partially Paid Invoice

For Invoice:

1. Invoice entries refer to invoice creation

For Payment portion:

• DR: cash account
• CR: A/R from charge code

For Cancel Payment:

• DR: Revenue account from charge code
• CR: A/R from charge code

For Cancel Credit portion:

• DR: Revenue account from charge code
• CR: Liability account

Create Invoice/Payment with Taxes

Reference: Setting up Tax Information

For Invoice:

1. Invoice entries refer to invoice creation

For Payment portion:

• DR: cash account
• CR: A/R from charge code

For Taxes:

• DR: A/R account from charge code
• CR: Revenue account from charge code

Create Invoice/Payments with Discounts

Reference: Setting Up Discount Codes or Coupons

For Invoice:

1. Invoice entries refer to invoice creation

For Payment portion:

• DR: cash account
• CR: A/R from charge code

For Discount:

• DR: Revenue account from charge code
• CR: A/R account from charge code

Create Invoice/Payment with OverPayment Credits

For Invoice:

1. Invoice entries refer to invoice creation

For Payment portion:

• DR: Cash Account
• CR: A/R from charge code

For Overpayment portion:

• DR: Cash Account
• CR: Liability Account

Refund a Credit

Reference: Processing a Refund for a Credit Card Payment

• DR: Liability Account
• CR: Refund Account

Write Off a Partially Paid Invoice

Reference: Writing Off an Invoice Balance

For Invoice:

1. Invoice refers to invoice creation

For Payment portion:

• DR: Cash from payment method
• CR: A/R from ledger for price of product being paid

For Write Off portion:

• CR: A/R charge code
• DR: Revenue from charge code