Accounts Receivable setup requirements

Ths table overviews the requirements for each setup task. More information can be found in the additional noted resources.


Setup	What is required?	For details, see
General Ledger application	You must define your chart of accounts in the General Ledger application before you can use the Accounts Receivable application. Depending on your business need, you will define: chart of accounts company details accounting units intercompany relationships (optional) system controls	The General Ledger User Guide
Currency application	You are only required to set up one currency code unless you operate with multiple currencies. If you use multiple currencies, you will also need to define: currency table currency exchange relationships currency exchange rates unrealized/realized gain and loss accounts these will be used for currency exchange.	The Currency User Guide and Setting up Currency.
Cash Management application	In the application, you define your bank information and payment formats. You must define: at least one bank the bank account(s) at each bank a relationship between your general ledger company and each bank account each bank transaction you will require, such as deposits, transfers, or service fees. each payment format you will use, such as checks or electronic files	The Cash Management User Guide and Setting up Cash Management in this user guide.
Terms application	Terms are used to calculate invoice due dates and early payment discounts based on what you have negotiated with your customers. You need to define at least one terms code.	Setting up Terms.
Tax application	If you will be using the Lawson Tax application to calculate sales tax, you will need to complete the setup. You are required to set up the following depending on your specific tax needs: a tax company a tax code a tax table tax code options tax rates	Setting up Tax.
Customer Group	You must define a minimum of one customer group. This defines customer numbering options, aging rules and currency. Each customer must be associated with only one customer group.	Setting up customer groups.
Finance Charges	Conditional. If you charge finance charges or late fees for past due payments, you will need to define: a finance charge rate code finance charge cycle codes parameters for company and customer	Setting up finance charges.
Company	Your accounts receivable company defines the rules and defaults that are used during processing and reporting. The minimum setup required is one accounts receivable company.	Setting up a company.
Process Levels and Groups	Process levels reflect how your organization is structured: by physical location, division, departments, cost centers, or other groups. The minimum setup required is one: process level process level group process level report group	Setting up process levels.
Accounts Receivable Codes	There are a variety of codes to use when processing accounts receivable. These codes eliminate repetitive data entry which results in streamlining processes and fewer data entry errors. Depending on your processing needs, you might be required to define the following: Adjustment reason codes Memo codes Category codes Dispute codes Operator codes General ledger codes Dunning letter text Cycle codes Customer class Credit analyst codes Territory codes Sales representative codes Lock box codes Aging codes Hold codes	Setting up AR codes.
Customer	A customer is any company or person you collect money from. You must define the following before you can process cash: customer defaults customer group address customer optionally, for each customer, you can define: contacts national account relationships comments	Setting up customers.