Post New Receivable Page | PowerSchool ERP

Use this page to add receivable records and post their amounts to the appropriate ledgers. The page has fields for identifying the receivable record, entering its accounting information and amount, associating a revenue source (payer) with the receivable, and describing the transaction.

Menu Path: Fund Accounting > Entry & Processing > Receipts > Post Receivables > click Add New.

System Processing

When you post a receivable record, the system generates the following ledger transactions:

The system updates the appropriate Revenue Ledger account's budget balance and receivable balance.
The same entries are made on the Project Ledger if you included a project budget account in the receivable record.
For a positive transaction amount, General Ledger balance sheet account transactions are as follows:

Debit	GL Asset account
Credit	Revenue Control account

For a negative transaction amount, General Ledger balance sheet account transactions are as follows:

Debit	Revenue Control account
Credit	GL Asset account

A record is added to the Receivable Ledger, which you can search for and view in the main Post Receivables page. The Receivable Ledger record keeps track of revenue received against the receivable.
The receivable record is added to the Transaction Ledger with a Transaction Code of 23 - Add/Change Receivable. You can search for and view the record using the Transactions page. For details on how to search for and list Transaction Ledger records, refer to Detailed Displays.

Adding a receivable record

Select Fund Accounting > Entry & Processing > Receipts > Post Receivables to display the Post Receivables page.
If you need to change the fiscal year, period, or transaction date from the system defaults, click Set Period. For details, refer to Resetting Periods.
Click Add New to display the Post New Receivable page.
In the Receivable Number field, enter a unique code to identify the receivable record.
To add notes to the receivable, click Notes to display the Add Note page. For details, refer to Add Note Page.
Complete the remaining fields as needed.
Click OK to save the receivable.
- If the Continuous checkbox is selected, you return to the Receivable Number field so you can add the next record.
- If the Continuous checkbox is blank, 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
Amount	Monetary amount of the receivable. Decimal/12,2
Total Entry	Running total of receivables entered in the current data entry session