Setting and viewing balance forward information

Use the Balance Forward tab to specify balance forward information for a new account. After the charges or payments are posted to the account, all fields are protected. For each aging period for which you specify a balance forward amount, one A/R charge is created. The posting date is set as equal to the starting date of the aging period. The system automatically generates an invoice for each of the charges created. You can post payments and apply the payments to balance forward invoices to clear the balances as needed.

To set up the balance forward information:

  1. Select Account Receivable > Property A/R Accounts > Balance Forward.
  2. Specify this information:
    Transaction Code
    Specify the transaction code that you want to use to set up the balance forward information.
    Balance Forward Total
    Specify the total balance forward amount. The Balance Forward Total must be equal to the sum of all the Balance Forward Amount for each aging period.
    Balance Forward Amount (1-10)
    Specify the balance forward amount for each aging period. By default, six aging periods are displayed. You can configure up to 10 aging periods. The Balance Forward Total must be equal to the sum of all the Balance Forward Amount for each aging period.
    Note: If the ARACCOUNTCURRENCY property parameter is selected, you can view the amount in the Balance Forward Total in Account Currency and The Balance Forward Amount in Account Currency fields.
  3. Click Save Record to save the information.