Lesson #51
Receivables – Daily Register function
Run the Daily Register function after posting transactions for a set period so you can review reports of transactions for the period. Generally, you run daily registers at the end of the day after posting. You can also generate the reports for unposted transactions to review them.
All daily transactions (such as invoices, payments, credit memos, etc.) are temporary until they are posted (i.e., closed out). Once posted, they cannot be modified nor deleted, so daily registers use the post date (not the transaction date) to select and group posted transactions on the report. If you use Daily Register to monitor unposted transactions, it uses the invoice number or date of the transaction to order the list of results returned.
RB provides three types of daily registers: sales, cash receipts-payment, and cash receipts-other.
The Sales Register lists all invoices posted for the specified period, grouped and subtotaled by business unit. It shows you how much revenue you generated. Each business unit (BU) has its own page(s), and in addition to listing the BU’s total billed amount at the end of its invoices, it lists the number of jobs and invoices included in that amount.
The Cash Receipts Register-Payment lists all payments posted for the specified period, grouped and subtotaled by BU. It shows how much money you received. Each payment lists its total amount and breaks down how it was applied to the invoice balance (credit), discount, overpayment, late charge, finance charge, processing fee, and net cash. Each BU has its own page(s), and in addition to listing the BU’s totals at the end of its transactions, it breaks out the total amounts for invoices over 90 days old.
The Cash Receipts Register-Other lists credit memos, debit memos, duplicate payments, miscellaneous receipts, refunds, voids, and write-offs posted for the specified period, grouped and subtotaled by BU. It shows amounts for all transaction types that are not payments. Each BU has its own page(s), and includes the total amount for each transaction type.
In addition to grouping transactions onto separate pages for each of your company’s BUs, the last page of each register lists grand totals combining the activities of all of your BUs.
Generate targeted registers
The function defaults to today because it’s a good practice to review posted transactions daily so you stay on top of things and catch any issues quickly. You can also run daily registers for any date or date range.
You can limit which categories of invoices to search, if you want to focus on a particular type of invoice, such as ones for your affiliates. You can also choose to run reports for a single BU, several selected BUs, or all BUs.
Daily Register compiles posted transactions that meet your criteria as 3 separate reports, which each group their entries under one BU per page, plus a Grand Total page. Each report is shown as a tab above the report pane so you can quickly access each one.
You can search for a word or phrase in each of the 3 reports. RB will highlight all instances of your searched word/phrase in the current report and list them in a scroll box along with the page number where they occur.
Each report’s footer will display which search criteria you used to generate the report with the exception of blank search fields and ALL list selections. You can export any of these 3 reports to save and/or edit it in another application, or print it.
TL;DR: Monitor your posted transactions daily or for any other time period with these 3 reports: Sales, Cash Receipts-Payment, and Cash Receipts-Other. You can also monitor unposted transactions separately.
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.
Job: Usually the reporting of a deposition, but can also be any kind of service you provide with your reporters or other resources.
