Entering Historical Sales and A/R Transactions
This topic was written to help you understand how to enter old invoices and other transactions into Total Office Manager. This work will help assure that Total Office Manager’s related reports and lists are up-to-date and current as of your company’s start date.
After you’ve entered the historical sales and accounts receivable (A/R) transactions between your start date and today, the following data will be accurate in Total Office Manager:
Records of what you sold during the period
Customer balances as of today
Records of which historical invoices are unpaid
Sales tax liabilities as of today
Order of entry is very important. Be sure that you enter past sales and accounts receivable (A/R) transactions before entering any past checking or bank transactions. As you enter payments received from customers and then enter the deposit of such payments, Total Office Manager updates its bank balance appropriately.
As you enter your sales transactions, be sure to enter the original date of the transaction – not the date you are entering it.
When entering any sales form ( invoice , sale, credit /refund), be sure to accurately enter items in the Item field so Total Office Manager can track your sales income in the correct accounts. You may need to add items to your Item list as you work. Total Office Manager may display a message indicating that you do not have enough items in stock to sell. Ignore these messages for now. When you enter purchases of inventory (later), Total Office Manager will automatically adjust the quantities.
If you collect sales tax from customers, it’s very important that you add sales tax appropriately to each of the sales you enter. If you need help understanding how Total Office Manager handles sales tax collection and payment, please see the appropriate help topics.
Enter past sales and accounts receivable (A/R) transactions before entering any past checking or bank transactions. As you enter payments received from customers and then enter the deposit of such payments, Total Office Manager updates your bank balance accordingly.
You can enter sales and A/R Abbreviation for Accounts Receivabletransactions before or after accounts payable ( A/P ) or payroll transactions. However, if you want to put reimbursable expenses from bills on your historical invoices, you should enter accounts payable (A/P) transactions before you enter A/R transactions. This does not apply to most Total Office Manager users.
Gathering Required Information
You will need to gather the following information for Total Office Manager:
Copy of paid and unpaid invoices written between your start date and today
Copy of statement charges made between your start date and today
Copy of credit memos/refunds issued during that period
List of payments received
Record of deposits for customer payments during that period
Enter your historical sales transactions in the following order:
Enter a copy of each historical invoice written between your start date and today.
Sales Receipts ( cash sales)
Enter a copy of each historical Sales Receipt written between your start date and today.
Credits and Returns
Enter returns for sales recorded previously.
Record each payment received from a customer for an outstanding invoice. Be sure that you apply the payment to the appropriate invoice, and that the Date field shows the payment date. If the payment was for all or part of the customer’s open balance as of the start date, you see a Total Office Manager invoice for that balance.
Record each deposit of payments. In the Payments to Deposit window , select all customer payments (whether for invoices or sales receipts) deposited on one date. In the Make Deposits form, be sure the Date field shows the deposit date.