FAQ's - Accounting / Financial Reporting
- How do I Post a Payment, Credit or Debit on a Customer?
- How do I make a credit card payment?
- How do I refund a credit card or ACH payment?
- How do I credit an invoice from the Invoice Viewer?
- How do I remove a transaction from a customer's account?
- How do I view archived / deleted transactions?
- How are Transaction Classifications used in TBS?
- How do I Write-off an account due to Bad (un-collectable) Debt?
- How do I reverse a Bad Debt Write-off?
- How do I run an AR Aging Report?
- How do I run a Transactions report?
- How do I view transactions by batch ID?
- How do Accounting Permissions work in TBS?
- How do I properly write off an account?
- How do I apply an invoice credit for either partial, full, or individual CDR records?
- I accidentally over-billed a customer, what should I do?
How do I Post a Payment, Credit or Debit on a Customer?
The Transaction Posting page is used to update customer account balances by allowing users to create a new Payment, Credit and/or Debit transactions.
This page can be accessed from the Main Menu. Select Financial and then Transaction Posting.
For more detailed instructions on how to enter transactions see Transaction Posting in the User Guide
How do I make a credit card payment?
Credit Card payments can be made by either Internal Users or Customers on the Pay Bill Tab, which can be found on the specific customers account under Billing Information.
NOTE: For Credit Card and/or ACH Processing to be enabled in your system, contact Precision to setup your Payment Processor.
How do I refund a credit card or ACH payment?
Search for the desired account
Use the Transactions quick link in the top right or select the Billing Information Tab.
Click 
next to the desired transaction to view Transactions details of the payment.
Depending on the payment processor setup, payment transactions may have the option to Credit This Payment when viewing the details of the payment.
If the Credit This Payment button is available, click it to credit the ACH or CC payment. Review the amount and click Complete. Confirmation of the refund or any error messages will appear.
This refund transaction must be Posted from Transaction Posting before it will apply to the account balance. See Transaction Processing Overview for more details about this process.
NOTE:
Credit Card / ACH payments can only be credited once.
Certain payment processors require a certain window of time to pass prior to allowing a refund to occur.
Only users with Accounting Admin rights have access to credit real time or batch Credit Card / ACH transactions.
How do I credit an invoice from the Invoice Viewer?
Users can credit customer accounts from the Invoice Viewer using one of the following methods:
- Full Invoice Credits
- Partial Invoice Credits
- Credits for individual call records (CDR)
- Fixed Charge Credits
See the User Guide topic: Invoice Viewer Credits
How do I remove a transaction from a customer's account?
Transactions can only be removed from the system if they have not yet been applied to an invoice or reported in monthly tax files.
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First, a user can delete transactions from the Transaction Posting Page by clicking Delete next to the desired transaction in the grid at the bottom of the page. Since these are technically temporary transactions and have not yet applied to the customer balance, no additional balance updates are needed.
This delete will be tracked by the system. To view the delete log see How do I view archived / deleted transactions?
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Second, if a Transaction has been posted to an account, it can still be deleted provide that:
- The Transaction has NOT yet been billed (shown on an Invoice to a customer)
- The Transaction has no tax records OR the tax records have not been reported
To deleted posted transactions that meet the above criteria, go to the Billing Information Tab then select the Transactions tab.
Click the
link corresponding with the transaction to be deleted.Click the Delete Transaction button and confirm the choice.
The transaction will be completely removed from the customer's account and the account balance will be rebuilt.
All Transaction deletes are tracked by the system. To view the delete log see How do I view archived / deleted transactions?NOTE: Only users with Accounting Admin rights have the ability to perform this function.
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Third, If a Posted transaction has been billed or has reported taxes, the only option is to enter a reversing transaction of the same amount to the account.
- If you want to reverse a Payment or Credit, enter a Debit Transaction.
- If you want to reverse a Debit, enter a Credit transaction.
See How do I Post a Payment, Credit or Debit on a Customer? for additional information.
How do I view archived / deleted transactions?
All Transactions, archived or deleted, on all accounts can be found as standard in TBS under the Reports tab under the Accounting section.
Select the desired report:
- Archived Transactions - View Archived Transaction for a single account
- View Deleted Transaction Records - View Transaction Deletes that occurred over a period of time
Enter the appropriate report criteria and click the "Run Report" button.
How are Transaction Classifications used in TBS?
Transaction Classifications are used to classify or categorize accounting transactions in TBS. In most cases, the transaction classifications are defined by the client and map to Accounting General Ledger codes.
TBS supports the ability to calculate taxes for any non-special Credit or Debit transaction when an associated “Taxable” Transaction Classification is selected. Transaction Classifications can be managed using the Transaction Classification Administration tool available from the Admin Menu.
Special Transaction Classifications:
TBS does have some “special” transaction classifications. The system will perform additional processing when posting a transaction with one of these classifications. These “special” transaction classifications are:
- 800 Credit Taxes Only
- 889 Invoice Credit
- 955 Bad Debt Write-Off
- 998 Bad Debt Reversal
- Invoice Viewer Credits (Usage credits)
For more detailed information, see theTransaction Classifications User Guide.
How do I Write-off an account due to Bad (un-collectable) Debt?
If an account has a balance that cannot be collected, it is referred to as "Bad Debt". The proper way to account for this un-collectable revenue is to process a Bad Debt Write-Off. This process will bring the account balance to zero ($0.00) by reversing all of the unpaid charges. The process also reverses any taxes associated with the unpaid charges in order to reduce the tax liability of your company.
Users can perform a Bad Debt Write-Off in two ways:
First, an individual account can be written off by posting a Credit Transaction to the account using the Transaction Posting page and selecting the Trans Classification 955: Bad Debt Write-Off
Second, the Write-Off Account Utility can be used to write off a set accounts at once.
NOTE: Only users with access to the WriteOff module have permission to Write-Off an account.
How do I reverse a Bad Debt Write-off?
Only users with access to the WriteOff module have permission to reverse Bad Debt Write-Off transactions. TBS will properly reverse all write off transactions and taxes for the selected account.
For more information regarding instructions on how to reverse a Bad Debt Write Off an account, please see Transaction Posting and the Trans Class 998: Bad Debt Reversal help topics.
How do I run an AR Aging Report?
From the Reportsmenu select Financial and then Accounts Receivable.
You will see the following screen:
You can simply click the “Run Report” button to display the report with the default filters.
For more detailed information regarding the Accounts Receivable report and the various filtering options, See Accounts Receivable in the User Guide.
How do I run a Transactions report?
From the Reportsmenu select Financial and then Transactions.
You will see the following screen:
Select the Report Type
Select Summary or Details
Fill in the Required Filters.
Click the “Run Report” button to display the report.
For more detailed information regarding the Transactions report and the various filtering options, see Transaction Reports in the User Guide
How do I view transactions by batch ID?
From the Reportsmenu select Financial and then Transactions.
You will see the following screen:
Select the Report Type of BatchID,
Select Summary or Details
Fill in the Required Filters (BatchID).
Click the “Run Report” button to display the report.
For more detailed information regarding the Transactions report and the various filtering options, see Transaction Reports in the User Guide.
How do Accounting Permissions work in TBS?
Access to the various accounting pages and functions are granted to Users / Groups via the Accounting Module and the WriteOff Module.
See the Accounting Permissions User Guide for detailed information.
How do I properly write off an account?
There are two ways to properly write off an account. These include:
1. Financial -> Transaction Posting.
To properly write off an account, after entering the Transaction Posting page, an individual account can be written off by posting a Credit Transaction to the account using the Transaction Posting page and selecting the Trans Classification 955: Bad Debt Write-Off
2. Financial -> Write-Off Account
Second, the Write-Off Account Utility can be used to write off a set accounts at once. Please note that only users with access to the WriteOff module have permission to Write-Off an account.
How do I apply an invoice credit for either partial, full, or individual CDR records?
There are two methods an invoice credit for partial, full, or individual CDR records can be applied.
The first method takes use of the Transaction Posting page. Financial -> Transaction Posting. Click the Add New button to begin adding a new credit. Then look up and select the desired name, account, or invoice number that needs credited and fill out the required information on the transaction posting page.
The second method takes use of Open Invoices page. Billing Information --> Invoices--> Open invoice. See the Invoice Viewer V2 page to see the step by step method for crediting Full, Partial, and Individual CDR Records.
I accidentally over-billed a customer, what should I do?
Financial -> Transaction Posting. If a customer is accidentally over-billed, the Transaction Posting page allows TBS users to credit specific customers.
Click the Add New button to begin adding a new credit. Then look up and select the desired name, account, or invoice number that needs credited and fill out the required information on the transaction posting page.
For a Credit, reduce the account balance. Use when making account adjustments. This type of transaction can also calculate taxes associated with the adjustment.