Balance Writeoff

Balance Writeoff is a mass writeoff utility that can be used to zero out invoices of all accounts of a certain bill source responsible for routes with a certain single copy type. This utility zeros out the invoices by creating a suspended batch of payment adjustments.

This may be used, for example, with dealers who manage racks. For GL purposes, the dealers are charged for the rack draw and credited for the amount collected from the rack. However, the amount collected typically doesn’t equal the draw charge (because of rack pilferage), and so the dealers accumulate a debit balance. Balance Write Off can be used to write off that pilferage amount, crediting dealer Accounts Receivable and debiting another GL account.

Balance Writeoff must be run for a particular invoice date. It will zero out the dealer’s invoice for that billing period by creating offsetting credit or debit entries. For example, if a dealer has a balance from 02/29/12 and another balance from 03/31/12, and you enter an invoice date of 02/29/12, Balance Writeoff will only create a credit for the amount from 02/29/12.

To run Balance Writeoff:

• Select Balance Writeoff from the Misc. Charge/Credit menu to display the Balance Write Off window.

  
• Click Add and complete the following fields.

  Fields	Type	What to enter
  COMPANY	setup	Enter the company to which the dealers belong.
  BILL SOURCE	setup	Enter the bill source to which the dealers belong. Enter “*” to multi-select bill sources.
  SINGLE COPY TYPE	setup	Enter the single copy type, such as “rack,” for the writeoff. Dealers delivering routes with this single copy type will have their invoice written off. Enter “*” to multi-select single copy types.
  INVOICE DATE	date	Enter the date on which the writeoff should be based. Account invoices will be written off as of this date.
  BATCH, BATCH DESCRIPTION	open (10) open (30)	Designate a batch ID and enter a description for the batch of credits that will be created by this process. The batch ID must be unique—there cannot be an existing batch with the same ID.
  BILLING PRODUCT	setup	Enter the publication for which invoices should be written off. Only the dealers delivering this publication will have their invoices written off. Note, however, that if a carrier/dealer delivers multiple publications that are billed on the same date, the entire invoice (for all publications) will be written off.
  BATCH DATE	date	Enter the date on which this batch should be processed. This date determines when the writeoff will occur. Note that the credits created by the process will be in the current aging period for the carrier/dealer (while the invoice being written off may be in an older aging period).
  BANK	setup	Identify the bank to use for these adjustments. The default specified in Business Rules (Account Payments section) will default, but it can be changed.
  BALANCE TYPE	predefined	Identify the type of balances to write off: invoice, credit memo, or both.
  CREDIT ADJUST CODE	setup	If the balance type is invoice or both, identify the credit adjust code to use with the payment adjustments.
  DEBIT ADJUST CODE	setup	If the balance type is credit memo or both, identify the debit adjust code to use with the payment adjustments.

• Click OK and then Continue to write off the account balances. After the process is complete, a report will list the total number of accounts processed and total amount written off for each bill source. A suspended cash batch is created with cash transaction records for the open invoices and/or credit memos. Use the Account Payments | Payment Entry option to accept this batch.