distribute revenue of prepaid invoices

[wysiwygGER01]

Hello,

We are using Accpac 5.5A.

Our invoices are entered in A/R.
Some of our invoices we sent out are quarterly invoices which are prepared in advance. The revenue for this type of invoice should be distributed over 3 months when it hits the GL.

A/R only seems to let me enter invoices for a specific period.
What would be the best way of distributing the revenue over the 3 months?

 

[Jay Converse]

Make 3 invoices, or do a journal entry.

 

[wysiwygGER01]

Hello tuba,

thx for your reply.
I don't want to enter 3 invoices.

I'm not an accountant but would like to learn what you mean by 'do a journal entry'? Could you please explain a bit further?

 

[Jay Converse]

General Ledger
G/L Transactions
Journal Entry

 

[wysiwygGER01]

Hi Tuba,

I know where to find journal entry.
It's what I'm to do with it I'm interested to know.

Lets say I have an invoice for period January to March - at the end of January would I have to do a journal entry debiting prepaid invoices and crediting sales for a third of the amount and do the same thing at end of Feb and March?

 

[Jay Converse]

Yes

 

[wysiwygGER01]

Thanks again for your reply.
My last question, sorry...

Is there really no better way except creating GL entries manually if I want to distribute revenue from 1 invoice over 3 months?
Is there maybe an additional module that would be able to do this? Or set up distribution codes in some way?

It seems such a simple request?

 

[Jay Converse]

I'm not aware of any such product. A/R Recurring Invoices would do it, but you don't want multiple invoices.

 

[ettienne]

Maybe Service Manager, but that's using a sledge hammer to kill a fly.
You cannot do this from AR, you need to do GL journal entries as Jay said. You can use recurring GL batches, but then you need to setup the recurring GL batches and that is maybe more work than doing a GL JE.
You can explore writing a macro, or get someone to write a macro to automate this task.

 

[wysiwygGER01]

ok, thanks for your help!

 

[wysiwygGER01]

Systronics appear to have a module which seem to do what I want. Anyone got experience with that module?

http://www.systronics.com/?p=products/rd#overview

 

[DjangMan]

Systronics is a respected 3rdparty development partner. I haven't used that module. Feel free to contact Robert Lavery (robert DOT lavery AT sympatico DOT ca) if you're in North America and he can arrange a demo or get more information for you.

I had a client do this type of process by entering adjustments on the AR receipt side. It was a complicated process (dealing with loans) and there are macros running the show.