PowerSchool ERP Fund Accounting
PowerSchool ERP Fund Accounting
Breadcrumbs

Change Receivable Page

Use this page to access existing receivable records. You can change a receivable's accounting information, payer number, description, and amount. You can also assign a control number to the Change Receivable transaction you are creating.

When you save a change to a receivable record, the system updates the appropriate Receivable Ledger record and creates a Change Receivable transaction record with a Transaction Code of 23. The General, Revenue, and Project Ledgers are updated as described in the Post New Receivable Page section.

Menu Path:  Fund Accounting > Entry & Processing > Receipts > Post Receivables > search for a receivable > select the desired receivable > click OK

Updating an existing receivable record

  1. Select Fund Accounting > Entry & Processing > Receipts > Post Receivables to display the Post Receivables page.

  2. If you need to use a fiscal year, period, or transaction date other than the system defaults, click Set Period before accessing the record you are updating. For details, refer to Resetting Periods.

  3. In the Post Receivables page, search for and list the receivable record you want to update.

  4. In the List section, select the receivable, and then click OK.

  5. In the Change Receivable page, update the *Budget Unit* through Description fields as needed.

  6. To enter notes on the change, use Notes. For details, refer to Add Note Page.

  7. In the Control Number field, enter a code to group the transaction with similar records. Character/8
    This number identifies the Change Receivable transaction. It does not replace the control number for the original Receivable transaction.

  8. Use the Change Amount field to adjust the amount. You can enter a positive or negative adjustment. When you save the transaction, the system uses this value to update the balance for the appropriate Receivable Ledger record.

  9. Click OK to save the transaction and update the appropriate ledgers.

    • If the Continuous checkbox is selected, the system displays the next receivable from the list in the main Post Receivables page.

    • If the Continuous checkbox is blank, the Change Receivable page closes, and you return to the Post Receivables page.

Fields

Field

Description

Receivable Number

Reference number identifying the receivable. When you post receipts against the receivable, the system uses this number to reduce the balance for the appropriate Receivable Ledger record.Character/8

*Budget Unit*

Low organization code for the Revenue Ledger account used to record the receivable. This field’s title is defined in the Fund Accounting Profile.

If your Fund Accounting Profile is set up for full expensing, the Full Account Window page will display for entering the budget unit. For the procedure, refer to Full Account Window Page.

Account

Revenue account code for the Revenue Ledger account where the anticipated revenue is recorded. The budget unit and account combination must exist in the Revenue Ledger.

*Project*

Code for the low-level project for recording the anticipated revenue. This field and the next only apply if you use project accounting. The field’s title is defined in the Fund Accounting Profile.

Account

Revenue account where the anticipated project revenue is recorded. The project and account combination must exist on the Project Ledger.

GL Asset Account

General Ledger balance sheet account for recording the receivable.

Payer Number

Code identifying the source of the receivable.

Description

Description of the receivable transaction. This description defaults when you reference a receivable in a receipt record. Character/25

Control Number

Code used to group receivable transactions for searching and reporting purposes. Character/8

Using this number, you can group receivables with other transactions. You can then use the code to retrieve these records in the Transactions page (Fund Accounting > Entry & Processing > Detailed Displays > Transactions).

Change Amount

Monetary amount of the receivable. Decimal/12,2

Total Entry

Running total of receivables entered in the current data entry session.

The following display-only fields show information for a receivable record in the Receivable Ledger.

Original Amount

Amount entered for the receivable when its Receivable Ledger record was first created.

Change to Date

Net monetary amount of all changes made to the Receivable Ledger record since the receivable was first posted. This amount is updated each time you save a Change Receivable transaction for this record.

Payments

Total monetary amount for all receipts entered referencing this receivable.

Balance

Monetary balance for the amount not yet received for this receivable. This is calculated as follows:

Balance = (Original Amount + Change to Date) - Payments