In the Veracross billing and accounting system, invoices must be posted before payments can be applied to them. During the posting process, journal entries are created that debit the accounts receivable account and credit either the unearned income or revenue accounts. When invoices and/or invoice items are posted, they are locked against certain updates to ensure that the detail information stored on the invoices reconciles to the information stored in the General Ledger. After posting, if errors are found in invoices, new AR items can be created to offset the erroneous data, or formal adjustments can be made to the existing items. Read more about invoice adjustments.
Unposted AR Invoice / Item Report
To obtain a complete listing of all unposted AR invoice items, navigate to the Accounts Receivable homepage and click Unposted Invoice Items.
It is common for unposted items to have dates which span multiple accounting periods. When AR items are posted, however, it is unlikely that you will want to post items spanning multiple accounting periods in the same batch. If you notice multiple accounting periods represented by the items on your report, it is recommended that you access the “Query Design” tab of the result screen and specify date criteria that will produce a list of transactions from a single accounting period. Re-run the report after specifying the criteria. Read more about designing queries in Axiom.
When the report is re-run, only transactions in the specified time period will be displayed. These transactions should constitute those that you wish to post.
Posting the AR Invoice / Items
Once you have identified the items to be posted, initiate a posting batch by clicking Post AR Invoices on the Accounts Receivable homepage.
After all criteria have been specified, click Add Post AR Invoices. The system will process all invoices matching your criteria and make appropriate journal entries. When process is complete, all fields on the screen will become disabled (background color will turn gray). To view a summary of the posting results, click on the “Results” tab.