Skip to main content

Core Reports: Setting Up Client/Vendor Balances

www.trestechnologies.com
© Tres Technologies. All Rights Reserved.

Core Reports: Setting Up Client/Vendor Balances

  • Updated

Client Balances prior to the start of Trams Back Office need to be entered into the Trams Back Office program. When client payments are received, an invoice will be present in Trams Back Office in order to apply payments. Client Balances are entered in Trams Back Office by creating invoices. Agencies have two choices when entering prior Client Balances. By using Method One, enter each invoice individually with complete Client, Vendor and Agent details which ensure accurate Client and Agent Statements, and Vendor detailed reports. Or create a separate invoice for each Client Balance using the “short cut”

Method Two below. Be aware that by using this method; however, may stop the program’s flexibility resulting in inaccurate Client and Agent Statements, and Vendor detailed reports. From Previous Back Office System, run:  

  • Client Balance Report (Accounts Receivable)
  • Vendor Balance Report (Accounts Payable)
  • Income Statement (Profit/Loss Statement)
  • Balance Sheet
  • Trial Balance

Set Up Client Balance Report  

  • In Trams run Report/Core/Client Balances in detail using date one day prior to the start-up date
  • Compare to previous system Client Report and note differences.
  • Make any entries in Trams Back Office to correct report (see directions below). Remember to include unapplied balances!
  • Rerun Client Balance Report in detail using date one day prior to the start-up date. Verify that all balances match the report from the previous system.

Set Up Vendor Balance Report  

Vendor balances prior to the start of Trams Back Office need to be entered into the Trams Back Office program. When payments are made to Vendors, an invoice will be present in Trams Back Office in order to apply payments. First steps for setting up the Vendor Balances: 

  • In Trams run Report/Core/Vendor Balances in detail using date one day prior to the start-up date.
  • Compare to previous system Vendor Balance Report and Note differences.
  • Make any entries in Trams Back Office to correct report (see directions below). Remember to include unapplied balances.!
  • Rerun Vendor Balance Report in detail using date one day prior to the start-up date. Verify that all balances are correct.

Creating Separate Invoices for Each Client/Vendor Balance - Method One 

  1. Click on Invoices|Sale.
  2. To create Client Balances - Enter all invoice details pointing to the correct client, agent and vendor profiles for all client outstanding balances. Use the correct issue date of the invoice. Make sure the Submit To is properly set to ensure Client Balances for invoices is correct.
  3. To create Vendor Balances - Enter all invoice details, pointing to the correct client, agent and vendor references for all vendor outstanding balances. Use the correct issue date of the invoice. Make sure the Submit To is properly set to ensure Vendor Balances for invoices is correct.
  4. Go to Reports|Core and run a Client Balance Report and a Vendor Balance Report with dates set one day prior to the startup date.
  5. Compare the Core Reports to the previous accounting system’s Account Receivable and Accounts Payable.
  6. Since creating an Invoice creates a Client balance and Vendor Payable which may have been paid prior to starting Trams, write off any outstanding balances by using directions below.
  7. Add any unapplied balances by following directions below.
  8. WHEN COMPLETING ENTERING ALL INVOICES AND UNAPPLIED BALANCES (and have done write-offs, if necessary), DON’T FORGET TO RERUN THE CLIENT BALANCE CORE REPORT WITH DATES SET ONE DAY PRIOR TO THE START-UP DATE TO MAKE SURE THE BALANCES ARE ACCURATE.

Remove/Write Off a Previous Client Balance 

When setting up the Core Report, remove/write off a previous Client Balance by: 

  1. Go to Payments|Received.
  2. Enter the Amount of invoice to be removed/written off.
  3. Use the Payment Date of one day prior to the start-up date.
  4. Choose Payment Method of OTHER.
  5. Under Remarks, type “Prior Receivable Write-off”.
  6. In the Name field, enter the Client Name.
  7. Toggle the invoice closed by clicking Toggle Close.
  8. Do NOT create a Journal Entry when prompted. (When the GL is set up, create a JE and write it off to a bad debt account which is usually a 6xxx account.)

Remove/Write Off an Old Vendor Balance 

When setting up the Core Report, remove/write off a previous Vendor Balance by: 

  1. Go to Payments|Made.
  2. Enter the Amount of Invoice to be removed/written off.
  3. Use the Payment Date of one day prior to the start-up date.
  4. Choose Payment Method of OTHER.
  5. Under Remarks, type “Prior Payable Write-off”.
  6. In the Name field, enter the Vendor Name.
  7. Toggle the invoice closed by clicking Toggle Close.
  8. Do NOT create a Journal Entry when prompted. (When the GL is set up, create a JE and write it off to a bad debt account which is usually a 6xxx account.)

Set Up an Unapplied Client Balance 

  1. Go to Payments|Received.
  2. Enter the Amount Client paid on account.
  3. Use the Payment Date of one day prior to the start-up date.
  4. Under Remarks, type “Prior Receivable”.
  5. In the Name field, enter the Client Name. Trams prompts to build a new profile if it does not find a match. Note: If creating a new Client Profile, make sure to add an Interface ID #. TBO prompts to create a Voucher. Click Yes and Click OK. 

Set Up an Unapplied Vendor Balance 

  1. Go to Payments|Made.
  2. Enter the Amount of the Vendor Balance on account.
  3. Use the Payment Date of one day prior to the start-up date.
  4. Under Remarks, type “Prior Payable”.
  5. In the Name field, enter the Vendor Name. Trams prompts to build a new profile if it does not find a match. Note: If creating a new Vendor Profile, make sure to add an Interface ID #. Trams prompts to create a Voucher. Click Yes and Click OK. 

Create Invoices in Detail w/Shortcut Method Two 

Client Balances are entered in Trams by creating invoices. Create a separate invoice for each Client Balance. Click on Invoices|Sale. 

  1. In the Invoice # field, type in the invoice number of the unpaid invoice.
  2. The Issue Date is the date prior to the start-up date, e.g.12/31/xx if the start-up date is 01/01/xx.
  3. In the Remarks field, type in Prior Receivable or any other free flow information.
  4. In the Name field, enter the Client Name. Trams prompts to build a new profile if it does not find a Note: If creating a new Client Profile, make sure to add an Interface ID #.  
  5. Click OK to process.
  6. Change the Submit To field to Supplier.
  7. In the Vendor Name field, type in Prior Client Balances. Trams prompts to create a new profile if it does not find a match.
  8. In the Total Fare field, type in the amount owed.
  9. The Taxes/Rate and Commission/Rate fields are 00.
  10. Click No on the prompt “Enter a payment for this invoice?”

Since creating a Receivable also creates a Payable, enter a Payment Made to close off all the Vendor

Balances now contained in the Profile, “Prior Client Balances.” 1. Click Reports|Core|Vendor Balances. 

  1. In the As Of field, enter the date. The date should be one day prior to the start date.
  2. Change the Format field to Summary, then click OK to process.
  3. Find the Balance Due total for the profile Prior Client Balances and make a Note of the balance.
  4. Next, click Payments|Made.
  5. In the Amount field, type in the total amount of the Prior Client Balances Noted from the Vendor Balance report.
  6. Change the Payment Method to Other.
  7. The Pay Date is one day prior to the start date.
  8. Leave the Check/CC No field blank.
  9. Leave the Payment Code field blank.
  10. Leave the Payment Group field blank.
  11. In the Remark field, type “To Close Prior Payable.”
  12. Change Profile Type to Vendor-Supplier.
  13. In the Name field, type “Prior Client Balances.”
  14. Click OK to display open invoices. Click Close All. Click OK to save.
  15. Trams prompts, “Create a Journal Entry? Click NO.

Set Up an Unapplied Client Balance 

  • Go to Payments|Received.
  • Enter the Amount Client paid on account.
  • Use the Payment Date of one day prior to the start-up date.
  • Under Remarks, type “Prior Receivable”.
  • In the Name field, enter the Client Name. Trams prompts to build a new profile if it does not find a match. Note: If creating a new Client Profile, make sure to add an Interface ID #. 6) TBO prompts to create a Voucher. Click Yes and OK. 

Remove/Write Off a Prior Client Balance 

  • Go to Payments|Received.
  • Enter the Amount of Invoice to be removed/written off.
  • Use the Payment Date of one day prior to the start-up date.
  • Choose Payment Method of OTHER.
  • Under Remarks, type “Prior Receivable Write-off”. 6) In the Name field, enter the Client Name.  
  • Toggle the invoice closed by clicking Toggle Close.
  • Do NOT create a Journal Entry when prompted. (Note: After the GL has been set up, write off a client balance using these directions with this current date, but you need to create a Journal Entry to credit Client Balances and debit a bad debt, agent error, or misc. adjustment account setup in the 6000’s or expense accounts.)

WHEN COMPLETING ENTERING ALL INVOICES AND UNAPPLIED BALANCES (and have done writeoffs, if necessary), DON’T FORGET TO RERUN THE CLIENT BALANCE CORE REPORT WITH DATES SET ONE DAY PRIOR TO THE START-UP DATE TO MAKE SURE THE BALANCES ARE ACCURATE. 

Set Up Vendor Balances - w/Shortcut Method Two 

Vendor balances are entered in Trams by creating invoices. Create a separate invoice for each vendor balance.  

Note: If creating a new vendor profile, make sure to add an Interface ID #.  

  1. Click Invoices|Sale.
  2. In the Invoice # field, type in the invoice number of the unpaid invoice.
  3. The Issue Date is the date prior to the start-up date, e.g. 12/31/11 if the start-up date is 01/01/12.
  4. In the Remarks field, type in Prior Payable or any other free flow information.
  5. In the Name field, type Prior Vendor Balances. Trams prompts to create a new profile. (Don’t forget Interface ID!)
  6. Click OK to process.
  7. Change the Submit To field to Supplier.
  8. In the Vendor Name field, enter the name of the vendor to be paid.
  9. In the Total Fare field, type in the amount owed.
  10. Click No on the prompt “Enter a payment for this invoice?”

Since creating a Payable also creates a Receivable, enter a Payment Received to close off all the

Client Balances now contained in the Profile, “Prior Vendor Balances.”

  1. Click Reports|Core|Client Balances. 
  2. In the As Of field, type in the date. The date should be one day prior to the start date.
  3. Change the Format field to Summary, then click OK to process.
  4. Find the Balance Due total for the profile Prior Vendor Balances and make a Note of the balance.
  5. Next, click Payments|Received.
  6. In the Amount field, type in the total amount for Prior Vendor Balances, Noted from the Client Balance report.
  7. Change the Payment Method to Other.
  8. The Pay Date is one day prior to the start date.
  9. Leave the Check/CC No field blank.
  10. Leave the Payment Code field blank.
  11. Leave the Payment Group field blank.
  12. In the Remarks field, type “To Close Prior Receivable.” 13. Change Profile Type to Client.
  13. In the Name field, type in Prior Vendor Balances.
  14. Click OK to display open invoices. Click Close All. Click OK to save.
  15. Trams prompts, “Create a Journal Entry?” Click NO.

Set Up an Unapplied Vendor Balance 

  1. Go to Payments|Made.
  2. Enter the Amount of the Vendor Balance on account.
  3. Use the Payment Date of one day prior to the start-up date.
  4. Under Remarks, type “Prior Payable”.
  5. In the Name field, enter the vendor Name. Trams prompts to build a new profile if it does not find a match. Note: If creating a new Vendor Profile, make sure to add an Interface ID #. Trams prompts to create a voucher. Click Yes and OK. 

Remove/Write Off a Prior Payable Vendor Balance 

  1. Go to Payments|Made.
  2. Enter the Amount of Invoice to be removed/written off.
  3. Use the Payment Date of one day prior to the start-up date.
  4. Choose Payment Method of OTHER.
  5. Under Remarks, type “Prior Payable Write-off”.
  6. In the Name field, enter the Vendor Name.
  7. Toggle the invoice closed by clicking Toggle Close.
  8. Do NOT create a Journal Entry when prompted. (Note: After the GL has been setup, write off a vendor balance using these directions with the current date, but you need to create a Journal Entry to debit Vendor Balance account and credit a bad debt, agent error, or misc. adjustment account setup in the 6000’s or expense accounts.) 

Adding a Negative Payable or Vendor Receivable 

To enter Cruises, Tours, etc. paid by credit card (where commission is due), a Sale Invoice is created: 

  1. Go to Invoice|Sale and enter invoices (using Method One as outlined in Setting Up Client Balances Core Report).
  2. Click Yes on the prompt “Enter a payment for this invoice?” Enter credit card number. 
  3. Repeat for each Negative Payable.

WHEN COMPLETING ENTERING ALL INVOICES AND UNAPPLIED BALANCES (and have done writeoffs, if necessary), DON’T FORGET TO RERUN THE VENDOR BALANCE CORE REPORT WITH DATES SET ONE DAY PRIOR TO THE START-UP DATE TO MAKE SURE THE BALANCES ARE ACCURATE. 

Related articles