Accounts Receivable


B

bliss

I have a QB question concerning accounts receivable. I have been doing
the books for a my inlaws small daycare for a little over a year.
There is a computer at the preschool that the payments are entered on.
It is getting too complicated to try to coordinate working on my part
of the books with the person who is entering payments for AR.
As of 1/1/2006 I am trying to use one entry for the months deposits and
stop using the individual AR accounts. How do I account for this? Do
I need to clear the AR accounts one by one?
Any help is greatly appreciated! I am very much an amateur!!!
Thankyou!!!
 
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L

Lisa C

bliss said:
I have a QB question concerning accounts receivable. I have been doing
the books for a my inlaws small daycare for a little over a year.
There is a computer at the preschool that the payments are entered on.
It is getting too complicated to try to coordinate working on my part
of the books with the person who is entering payments for AR.
As of 1/1/2006 I am trying to use one entry for the months deposits and
stop using the individual AR accounts. How do I account for this? Do
I need to clear the AR accounts one by one?
Any help is greatly appreciated! I am very much an amateur!!!
Thankyou!!!
I don't understand your question.

You should have ONE A/R account, and many customer accounts.

What method is used to record payments by "the person who is entering
payments for AR"? Are they using statement charges in the customer register?
Are they sending out invoices, and recieving payments? Are they simply
depositing the payments?

What, exactly, is your part of the books, and what problem are you having
with coordinating?
 
B

bliss

You are correct - we have one AR account and many customer accounts.

The person at the daycare does the billing and then applies the
payments she receives to the invoices that she has sent out. So she
applies the payments to the invoices as she gets them, and then makes
the banking deposits after she has done her application in QB.

Until now I was coinciding her activity with mine. So I had to make
sure that I didn't do any work until I updated my home computer with
what she had done. And I had to make sure that she didn't do anything
if I was in the middle of working on things until I could update her
computer with my current info.

What I think I need to do is to somehow clear out all of the individual
customer accounts, and have one entry each month to show that the AR
has gone up or down.

Does that make sense? HELP!!!!!!
 
G

gennif

bliss said:
You are correct - we have one AR account and many customer accounts.

The person at the daycare does the billing and then applies the
payments she receives to the invoices that she has sent out. So she
applies the payments to the invoices as she gets them, and then makes
the banking deposits after she has done her application in QB.
This person is doing her part correctly. If you're going to help with
the bookkeeping then you need to do your portion/work at the daycare
centre, not at your home. The chances of things getting screwed up
increase when you have multiple people and/in multiple locations.

gennif
 
?

!-!

Also -
Currently, QB is helping keep track of the AR - who has paid, who
hasn't. Bliss, you propose to give up that control - and replace it
with what? Based on the information you've provided - no, your idea
does not make sense. If the AR postings are so trivial compared to
whatever YOU do, maybe you should just assume ALL the bookkeeping
responsibilities.
 
S

scfundogs

!-! said:
Also -
Currently, QB is helping keep track of the AR - who has paid, who hasn't.
Bliss, you propose to give up that control - and replace it with what?
Based on the information you've provided - no, your idea does not make
sense. If the AR postings are so trivial compared to whatever YOU do,
maybe you should just assume ALL the bookkeeping responsibilities.
Not only that but I'd think it would make it difficult to prove accuracy
when a client calls something into question. Daycares, AFAIK (at least in
my state), are required to provide their clients with a statement at the end
of the year for tax deduction purposes. I know that I had to question one
of those statements years ago when two of my payments weren't accounted for.
It may have only been something like $200 but when you need that deduction
every little bit counts and people *do* scrutinize those things.
 
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N

NYC-Guru

they have something called an accountants copy that you can work with.
At a point where you and the biller have the same records..have her
download an Accountants copy (File..Accountants review..download
accountants copy)
This will give you full access to make any changes you need to make.
It will also give her the ability to continue to enter new activity but
greatly limit her ability to change anything that has been forwarded to
you. When you are done, you send her the accountants changes and then
she has your changes AND her new stuff. Once a month for each of you
is all it would take.
 
E

Ed Adams

NYC-Guru said:
they have something called an accountants copy that you can work with.
At a point where you and the biller have the same records..have her
download an Accountants copy (File..Accountants review..download
accountants copy)
This will give you full access to make any changes you need to make.
It will also give her the ability to continue to enter new activity but
greatly limit her ability to change anything that has been forwarded to
you. When you are done, you send her the accountants changes and then
she has your changes AND her new stuff. Once a month for each of you
is all it would take.
But beware!! There is an immutable law in data processing. If you retrieve
the same data from two different sources you are guaranteed two different
results.
 
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L

Lisa C

Ed Adams said:
But beware!! There is an immutable law in data processing. If you
retrieve the same data from two different sources you are guaranteed two
different results.
Accountants copy uses ONE source. In this case, The source would be the
daycare center file. The employee at the center would create an accountants
copy, to be used off-site. Accountant's changes would be merged into the
original file at a later time.
 

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