Lesson #52
Receivables – Daily Balance Log function
Get an instant snapshot of accounts receivable, or reestablish a starting balance as of a certain date by using this audit function. You can view the report for your company as a whole, for a single business unit or for several BUs.
Daily Balance Log defaults to all transactions for your company in the current month to date. You can change the start date for reporting transactions to find previous starting balances.
The report lists all dates within your specified range on which transactions occurred that affected your accounts receivable and displays the day’s beginning balance, the amounts from transactions that increased and decreased A/R, and the day’s ending balance after the increases are added and the decreases are subtracted.
Daily Balance Log uses the entered date of a Receivables transaction instead of the post date (when it was closed out) to match the Aged A/R report.
You can view any listed day’s transactions broken out and grouped according to type (invoices, payments, debits, voids, write-offs, etc.). You can also sort these breakout lists by invoice number or date.
You can export the report and breakout lists as Excel or CSV files to save, share, print, or use in other applications.
NOTE: This is an RB9-only function. It is not included in RB Lite.
TL;DR: Use this audit function to see accounts receivable balances for any date; for example, if you need to reestablish a starting balance as of a certain date.
RB concepts in this lesson
Business Unit (BU): One of your company’s revenue centers or any entity in your business that you want to track separately, such as branch offices, other companies you own, affiliates, and profit-sharing operations.
