Loading Customer Bad Debt Reserve Balances

Loading balances into the system is done using configuration packages and documents Reserves for Bad Debts. Before performing the balance loading procedure, it is recommended to change the system language to English.

To load customer Bad Debt Reserve Balances, you need to:

1. Perform the loading of Customer Card and Customer Agreements. Note When loading the Customers directory, specify: Bad Debt Risk Group the customer belongs to.
2. Configure doubtful Receivables Reserves Setup, more details at SMART Reserves Setup. Note In the Customer Posting Groups settings, specify the Expenses For Reserves of Overdue Receivables - off-balance sheet account for balance entry - S998.
3. Perform loading of customer settlement balances through the General Journals. Note When loading customer settlement balances, pay attention to filling the following configuration package fields: Posting Date, Due Date, and Document Date, as these fields are critical for calculating the number of days of accounts receivable overdue and the reserve amount.
4. Create and post the Reserves for Bad Debts document, where the Posting Date is the balance entry date. Upon posting the document, the following entries will be generated: Debit Balance Entry Account (S998) Credit Doubtful Debts Reserve" (381). To verify the results of the entered balances, use the Find Transactions button. In the Customer Posting Groups settings, change the Overdue Accounts Expenses For Reserves of Overdue Receivables from S998 to the expense account.