A/R and A/P Contra Entry
A/R and A/P Contra Entry
A/R and A/P Contra Entry is used to offset the credit balance in Creditor account with debit balance in Debtor account; usually both debtor and creditor refer to the same company/organization.
To Create New Contra Entry
Go to A/R > A/R and A/P Contra Entry
Click on Create A New Contra
Copy Whole Document: To copy the whole document to clipboard.
Paste Whole Document: To paste the whole document from the clipboard.
Undo: To undo (reverse one step) the header section.
Set Temporary Account: To set a temporary account for contra (You can go to Tools >Options >GL > Default Accounts > AR & AP Contra Temporary Account
Edit MRU Items: to edit /delete historical descriptions (which was keyed in previously). MRU = Most Recently Used
View Posting Details: To view the account transaction posting.
Debtor/Creditor: key in the first number/alphabet, OR click on the drop down arrow button, OR click on Search button to assign/select a debtor number.
Journal Type: you may select the journal type if you have maintained more than one journal type belonged to this Entry Type (refer to Journal Type Maintenance)
Ref. No.2: key in other reference number if any.
Ref.: key in the reference number
Contra Amt: key in the contra amount
Contra No: <<New>> means to follow auto-running numbering (maintained at Document Numbering Format Maintenance), and the next possible number is displayed at the top bar of the window. You may click on it to key in any number you like.
Date: system date is automatically captured, you may click to change.
Knock Off AP Invoices/Debit Note section
Unapplied Amount: to show the contra amount that has yet to knock off against Invoice/Debit Note.
Type: indicates the type of transaction
Date: indicates date of Invoice or DN.
No.: indicates document number
Org. Amt.: indicates the original amount of the document before any knock off
Outstanding: indicates the amount of the document that yet to pay.
Pay: the knock off amount. Click on this column header to automatically fill in the knock off amount.
Description: this is called document description...will remember from most recently keyed in description.
Proceed New Contra Record: when this is checked, a fresh screen will be ready for new entries upon Save; if unchecked will exit the transaction screen upon Save.
Click on Preview (or Save & Preview)
Print Contra Listing
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