Set Up Accounts Receivable for a New Company

The Accounts Receivable Setup Wizard provides several pages of questions and options that help you set up the Accounts Receivable module for a new company. You must complete this wizard and additional procedures before using the Accounts Receivable module.

Before You Begin

Before beginning the Accounts Receivable Setup Wizard, make sure you understand the following concepts:

Recalculate Aging
Billing Method FAQs
Segment Substitution FAQs

Before beginning the Accounts Receivable Setup Wizard, assemble the following information:

Your general ledger chart of accounts
A list of jurisdictions in which you sell and collect sales tax and their tax rates
A list of standard payment terms offered to your customers
A list of your customers, including addresses and phone numbers
A list of all invoices to process
A list of all payments and payment types to process
A list of all salespersons

The following must be set up before you can set up the Accounts Receivable module:

The Common Information and General Ledger modules must be set up for this company.

To set up the Accounts Receivable module for a new company

When you access the Accounts Receivable module for a new company for the first time, the Accounts Receivable Setup Wizard appears. Complete the Accounts Receivable Setup Wizard.

Warning If you select to expand the customer number in the Wizard, the Allow Entry of Expanded Customer Numbers check box in Accounts Receivable Options is disabled and cannot be changed.

To print a listing of your wizard selections and other module default settings, on the Completing the Accounts Receivable Setup Wizard page, click Wizard Listing.
To review or change any default options not included in the Setup Wizard, select the Access Accounts Receivable Options to change the default settings after clicking Finish check box.

Review the settings in Accounts Receivable Options and make any needed adjustments.
Complete these additional setup tasks:

To set up your customer and invoice information by divisions use Division Maintenance.
To establish bank accounts, use Bank Code Maintenance.
To set up terms codes, use Terms Code Maintenance.
To set up sales tax accounts, use Sales Tax Account Maintenance.
To enter salesperson information and commission rates, use Salesperson Maintenance.
To create and maintain payment types, use Payment Type Maintenance.
To set up and create miscellaneous, charge, and comment items, use Miscellaneous Item Maintenance.
To set up bill-to and sold-to customers, use Bill To Customer Maintenance.
To create customer memos, use Memo Manager Maintenance.

The Accounts Receivable module is set up for the new company, and you are ready to process accounts receivable transactions.