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Search Optifacts User Documentation
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Table of Contents (on this page)
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Introduction
This document provides instructions for processing End of Month in Accounts Receivable.
Procedure
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Step 1 - Prepare Month End
From the Optifacts
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Main Menu:
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Select Option 1 – Accounts Receivable and press
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Enter.
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Select Option 2 – Monthly Routines and press
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Enter.
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Select Option 10 – Prepare Month End and press
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Enter.
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- Follow the on-screen prompts pressing Enter past each field.
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Step 2 - Daily Totals Report
Print this report for the monthly sales figures
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.
- Use the first billing day of the month as the start date and the last billing day of the month as the ending date. This
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- report provides sales figures to balance
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- accounts receivable.
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| Info |
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If you ended the previous month on the |
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29th i.e. |
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, due to a weekend, you must run this report starting on the |
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30th of the previous month in case some work |
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got processed over the weekend. |
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For G/L month-end, print this report again using the first day of the month as the start date and the last day of the month as the end date. This |
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report provides a sales figure to balance |
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the G/L month. |
From the Optifacts
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Main Menu:
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Select Option 1 – Accounts Receivable and press
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Enter.
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Select Option 1 - Daily Routines and press
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Enter.
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Select Option 7 – Daily Totals Report and press
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Enter.
- Follow the on-screen prompts by pressing Enter past each field.
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Step 3 - Aging Report (
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Optional)
Print this report for aged account balances.
From the Optifacts main menu:
The Aging Report will provide Account Aging Data on all accounts with a balance. There are several options when preparing the report. You can print for one account, a group of accounts, one territory, or a group of territories. You can print this report to the screen or a printer.
Dates:
- Last month’s open item aging date (for open item accounts if you have any) – this date would be the first date of the current billing cycle.
- Inclusive beginning date of this billing period – this date would be the first date of the current billing cycle.
- Include invoices dated through – the date would be the last date of the current billing cycle.
From the Optifacts Main Menu:
Select Option 1 – Accounts Receivable and press
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Enter.
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Select Option 2 – Monthly Routines and press
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Enter.
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Select Option 1 – Aging Reports and press
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Enter.
- Follow the on-screen prompts by pressing Enter past each field.
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Step 4 - Monthly Statements Report (
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REQUIRED)
Use this routine to print monthly statements.
Check the statements once they have been printed.
From the Optifacts
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Main Menu:
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Select Option 1 – Accounts Receivable and press
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Enter.
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Select Option 2 – Monthly Routines and press
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Enter.
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Select Option 2 – Monthly Statements and press
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Enter.
- Follow the on-screen prompts by pressing Enter past each field.
| Note |
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‘Is this the first statement run of the month?’ is a |
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crucial question. When you answer |
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‘Y,’ the information produced during the compiling of the statement run for printing the summary report replaces all the information currently saved. The information is removed and replaced with the newly created information. Therefore, you want to answer ‘Y’ only if you are running for all accounts and only if you have not already run statements for the month previously. If you run for fewer than all accounts, you must answer |
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‘N,’ or the information for the summary report for all other accounts |
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is lost. You must determine when to answer ‘Y’ and when to answer ‘N’ before proceeding. If in doubt |
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about what happened previously, run the statements to the screen for all accounts with a |
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‘Y.’ |
If there are outstanding items, a prompt displays to correct them before statements can run.
The error shown in the following diagram means that payments, discounts, or credits are applied for an open item account after the end date set in Prepare Month End.
| Note |
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Please unapply the amount(s) via menu 1-1-9, then remove the payment (menu 1-1-3). If you do not do both of these steps in the order specified, then the account may be out of balance. |
If the transaction is deleted without unapplying the amount, then an adjustment to the record with unapplied amounts is required. The other option is to go through each order by order and remove amounts applied through 1-1-9. Remove Applied Amounts until there's enough in the unapplied amount to allow the deletion of the payment.
Step 5 - Account Summary Report
This report uses the data from the SUMM table in the previous step. It provides Account Summary Information including, Opening Balance, Purchases, Payments, Discounts, Credits, etc.
You can print this report by Company, Branch, and Territory. You can sort the report by Account Number, Account Name, Purchases, or Balance Due. You can print the report to the screen or a printer.
| Info |
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The data on this report is for the current month only and will only output data generated by the most recent Account Statement Run. |
- Save this report as
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- it needs to be rerun after the update is complete.
| Note |
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The two reports MUST MATCH. If they do not match, the system |
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presents a message that someone has done something to an account that |
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needs to be researched and corrected. |
From the Optifacts
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Main Menu:
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Select Option 1 – Accounts Receivable and press
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Enter.
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Select Option 2 – Monthly Routines and press
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Enter.
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Select Option 3 – Account Summary Report and press
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Enter.
- Follow the
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- on-screen prompts by pressing Enter past each field.
Step 6 - Cash Receipts Report
Print this report
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to list payments and discounts received during the month. It also shows the date the last payment was received. You can generate the data per Company, Branch, Territory, or Account. You can also select only Balance Forward Accounts, Open Item Accounts, or a combination of the two. Generate the data you select for a date range or all-inclusive. You can choose to output the data to the screen or a printer.
- Use the first billing day of the month as the start date and the last billing day of the month as the ending date. This
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- report provides cash receipts
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- figures to balance
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- accounts receivable.
| Info |
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For the G/L month-end, print this report again using the first day of the month as the start date and the last day of the month as the end date. This |
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report provides cash receipts |
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figures to balance |
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the G/L month. |
From the Optifacts
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Main Menu:
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Select Option 1 – Accounts Receivable and press
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Enter.
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Select Option 3 – Other Routines and press
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Enter.
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Select Option 1 – Cash Receipts Report and press
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Enter.
- Follow the
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- on-screen prompts by pressing Enter past each field.
Step 7 - Tax Report (Optional)
Run this report for taxes that have changed. This report gives you tax information for a specific period. You can print a summary or detail report and can print for one account, a range of accounts, or all accounts. You can print the data to the screen or to a printer.
From the Optifacts
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Main Menu:
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Select Option 1 – Accounts Receivable and press
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Enter.
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Select Option 2 – Monthly Routines and press
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Enter.
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Select Option 4 – Tax Report and press
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Enter.
- Follow the
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- on-screen prompts by pressing Enter past each field.
Step 8 - Commission Report (Optional)
This report outputs Sales for a particular Company and Branch within a sales Territory for a specified date range. Other options include combining VSP and Safety work with Dr’s work and including active or on-hold accounts. You can output the data to the screen or a printer.
From the Optifacts
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Main Menu:
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Select Option 1 – Accounts Receivable and press
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Enter.
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Select Option 2 – Monthly Routines and press
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Enter.
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Select Option 5 – Commission Report and press
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Enter.
- Follow the
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- on-screen prompts by pressing Enter past each field.
Step 9 - Customer Ranking Report (Optional)
This report ranks customers by the amount of business that they have done.
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It can run
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by purchases or by balances. Running by purchases
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shows what the customer purchased most from
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the lab. Running by balances
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shows if a particular customer is not paying their bill.
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From the Optifacts
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Main Menu:
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Select Option 1 – Accounts Receivable and press
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Enter.
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Select Option 2 – Monthly Routines and press
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Enter.
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Select Option 6 – Customer Ranking and press
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Enter.
- Follow the
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- on-screen prompts by pressing Enter past each field.
Step 10 - Check Statements for Accuracy (
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REQUIRED)
| Warning | ||
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This step is |
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essential so that the customer does not receive an inaccurate statement. Reviewing |
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the statements saves a lot of time during the month if |
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something is wrong.
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- Check the figures on the Statements.
- Balance all figures as you usually would.
Step 11 - Backup (
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REQUIRED)
From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 2 – Monthly Routines and press enter.
Type 7 – Backup Utilities and press enter.
- Follow the-onscreen prompts.
| Warning | ||
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Wait to run the month-end update until the nightly backup has occurred. Also, save that backup for 2-3 months. *** If the backup does not complete *** (i.e. a power failure occurs during the update process) *** |
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Contact Optifacts before continuing. ***
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Be sure that the accounting month has |
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closed and the above steps have been completed. |
Step 12 - Run the End of Month Update (
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REQUIRED)
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This routine updates and ages all account balances.
| Warning | |
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ONLY DO THIS ONCE – NEVER MORE THAN ONCE |
This routine updates and ages all account balances.
From the Optifacts main menu:
- Before running this routine, make sure all statements are correct, AR balances, accounting figures, balances, and a backup done.
- Run this routine after the accounting month has closed, and the Daily Totals Report is printed and balanced for the accounting month.
| Note | ||
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*** While this routine is running, do not do any other work on the system. *** *** Shipping must stop before running the update. Choose a point to stop mailing anything out and then run the update until finished. *** |
If this is interrupted by a power failure before finishing, call Optifacts before continuing.
From the Optifacts Main Menu:
Select Option 1 – Accounts Receivable and press
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Enter.
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Select Option 2 – Monthly Routines and press
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Enter.
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Select Option 8 - End of Month Update and press
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Enter.
- Follow the
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- on-screen prompts by pressing Enter past each field. The dates are auto-populated from the dates set in Prepare Month End and should not be changed. Contact Optifacts Support if you have questions.
- Do the End of Month Update as soon as possible after the backup.
- Run as soon as possible after the final
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- statement run
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- . RUN ANOTHER BACKUP if changes were processed, or a week or more
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- has passed since the statement run, and a backup did not occur. Label it the same as above with the new date added.
| Info | ||
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*** If the |
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update does not complete (i.e., a power failure occurs during the update process), contact Optifacts before continuing. ***
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DO NOT RUN THE UPDATE MORE THAN ONCE |
Step 13 - Run another Account Summary
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Report
Compare this summary with the summary run after the
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statement run. The two reports MUST MATCH EXACTLY.
- If they do not match, find the accounts that are different.
- Contact Optifacts.
From the Optifacts
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Main Menu:
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Select Option 1 – Accounts Receivable and press
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Enter.
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Select Option 2 – Monthly Routines and press
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Enter.
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Select Option 3 – Account Summary Report and press
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Enter.
- Follow the
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- on-screen prompts by pressing Enter past each field.
Step 14 - Run another Aging Report
From the Optifacts
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Main Menu:
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Select Option 1 – Accounts Receivable and press
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Enter.
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Select Option 2 – Monthly Routines and press
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Enter.
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Select Option 1 – Aging Reports and press
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Enter.
- Follow the on-screen prompts by pressing Enter past each field.
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Step 15 - Run the Account History Report (Optional)
This report outputs Account Balance and Invoice History. It compares the current month you are printing for to the same month a year ago, gives you totals for each of the past 12 months, and gives you a total. In addition, you can output information for a particular company, branch, territory, and account and choose to view the data on the screen or print to a printer.
From the Optifacts
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Main Menu:
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Select Option 1 – Accounts Receivable and press
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Enter.
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Select Option 2 – Monthly Routines and press
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Enter.
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Select Option 9 – History Report and press
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Enter.
- Follow the on-screen prompts
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- by pressing Enter past each field.
To view and download these instructions as a PDF file, click on the following document image.
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