Transactions Overview

Before using the Transactions functions, set up your customers, codes, and IDs using the Setup and Maintenance functions. Verify your customers, codes, and IDs, using the Master Lists and Interactive View functions.

Use the Transactions function for the following tasks:

Use the Transactions function to enter and edit invoices, cash invoices, and miscellaneous credits for customers that are not associated with recurring entries.
Transactions do not need to be in the currency assigned to the customer for which you are entering a transaction. That is, transaction amounts may be entered in any Active Currency. Use the Base Currency check box that appears when you select a customer that uses a currency other than the base currency to view or enter transaction amounts in your company's base, or functional, currency.
Use the Cash Receipts function to record payments from customers, apply prepayments from customers that have not been billed, and record unapplied cash receipts from a source other than a customer.
Use the Copy Recurring Entries function to create transactions for the recurring entries you defined in the Recurring Entries function.
Use the Change Batches function to replace a batch code with a different batch code, and move transaction numbers from the old batch code to the new batch code. This function is available only if you elected to use batch processing in the Business Rules function.

To verify your unposted transactions, print the Transaction Journal, Sales Journal, Miscellaneous Credits Journal, and Cash Receipts Journal. If a transaction is incorrect, use the Transactions function to edit the appropriate information, then reprint the appropriate invoice or journal.

Note: If Accounts Receivable interfaces with Inventory, Accounts Receivable transactions update Inventory in-use quantities online. Posting Accounts Receivable transactions updates available quantities, dates, summary and detail history, and lot and serial history in Inventory, if the Inventory options are set to retain this information.

Note: A history of transactional exchange rates will not be maintained. Most historical reporting will only be supported in the original transaction currency or in functional currency (for consolidation). Any representation of historical values in alternate currencies will be calculated using period exchange values.

After you enter an invoice or credit memo, you can print it online if you elected to print online invoices in the Business Rules function.