See the Accounts Receivable Processing menu for the menu item Void A/R – Revenue Netting Entry. The purpose of this menu item is to allow users to specify some filters to locate recent netting actions to void. Only “netting” (A/R invoice balances applied against revenue payable balances) transactions are voided, not “cross-clear” (where credit A/R balances are applied to non-credit A/R balances) transactions. This process replaces the prior procedures of using Unpaid History Entry and A/R Adjustments to reverse incorrect netting activity.
The A/R - Revenue Void-Netting Entry program is an immediate post. Users will be asked for printing selections before accessing the entry screen.
Note: It is strongly recommended that the user specify at least some filtering criteria or else ALL netting will be reversed. To verify the results run the following reports before and after processing the void:
- -Revenue Check Prelist (including suspended items),
- -Aged A/R Listing (report 640-02, checking the box “Include Recently Paid Invoices), and
- -1099 Proof report (499-08 version) for the year of the original netting and owner and the current year of the voucher.
Voucher Selection – Use F3 or click Next to assign a new voucher number.
Date – The voucher date can be used for the G/L posting date and Void year selection. The user will be asked to choose what dates will be used for posting.
Netting Filters – None, some, or all of the filters can be populated.
Netting Voucher – Scan for or specify the particular voucher number to be voided/reversed. If left empty all netting vouchers meeting other filtering criteria (within your retention period) will be voided/reversed.
Netting Well – Specify the well affected by the original netting, or leave blank to choose All Wells.
Netting Owner – Specify the owner code affected by the original netting, or leave blank to choose All Owners.
Netting Invoice – Specify the particular A/R Invoice that requires all netting against it to be voided/reversed. No browse is available. Leave blank to choose all invoices.
Netting Date – Enter in format MMDDYY. Specify the particular netting date to be voided/reversed or leave blank to choose all dates.
Disposition – Specify the suspense status that is to be assigned to the resulting revenues that become available for payment.
Retrieve Netting – Clicking on this button displays all candidates for voiding on the Revenue Netted tab. The user can then remove some of them, if necessary.
Void Netting – Click to proceed with the voiding of those netting actions which will reverse the actions of the netting in all particulars. In each case below, there is no separate entry for the netting void (just like for a void check). It just removes the netting transaction(s).
- -A/R Invoice Balances will be returned to balances as if the netting had not been done.
- Aged AR Listing (640) reports will no longer show the netting line
- AR Summary Statements will show invoices as if no netting had been done
- -Revenue payable balances will be returned to balances as if the netting had not been done
- Revenue check prelist and Revenue Summary Statements will show the revenue as available for payment
- -Revenue 1099 balances will be adjusted in the year selected (voucher or original netting date) when the void netting is done.
- -Year for 1099 selection – Normally, Year of Netting is chosen if the netting originally was done in a year for which the 1099’s have NOT yet been printed. Year of the Voucher is chosen if the 1099’s have already been issued for the netting year.
The following will appear when the Void Netting is clicked. Choose the appropriate selections for the G/L entry and 1099 Effect desired.
Posting report samples are shown below:
Please give us a call or send us an email if we can assist you with this or another OGsys software process.