Open Invoice Setup

Use the Open Invoice Setup function to create open invoices from the initial customer balances you entered in the Customers function.

WARNING: You must enter initial balances for the customers before you run the Open Invoice Setup function; otherwise, all existing invoices are deleted. If you run this function when open invoices exist, a message warns you that the existing invoices will be deleted.

Aging classifies receivables by the amount of time that has passed since the date of the sale. Accounts Receivable has five aging periods:

The current period
31-60 days old
61-90 days old
91-120 days old
More than 120 days old

When the Open Invoice Setup function is run for open invoice customers, an invoice is created for each aging period and an invoice date is assigned for the current period (the date you enter in the Current Date field).

WARNING: This function should NOT be run if invoices have been posted to the open invoice table. Running this function will delete all invoices and recreate them dated to fall into the correct aging period.

Select a date for which to create open invoices from the Current Date field.
Click a command button to

Click	To
OK	Begin processing. If you begin processing and open invoices exist, a message appears and you can elect whether to overwrite existing data.
Reset	Set all fields to their default values.

Open Invoice Setup Exchange Rate Screen

If you have customers with different default currencies and have existing balances the Open Invoice Setup Exchange Rate screen appears when you select OK from the Open Invoice Setup screen.

This screen is available only if you are using the TRAVERSE multicurrency feature.

The customer ID, currency ID, exchange rate, and date of the exchange rate are displayed for each customer with open invoices. To add exchange rates, select Edit; the System Manager Currency Exchange Rate screen appears. Select Close to return to the Open Invoice Setup screen.