This has surfaced a couple times over the years but with Epicor ever changing is there possibly a way to change the AR account an invoice posts debit to depending on Product Group or other factor? The only ways I can find to do that are at the company config and at the customer levels. Anyone know anything here?
Hello Matthew,
Yes. Epicor uses G/L Control Codes to determine the accounts used. If you call up Product Group, you will see each group can have a different G/L control.
G/L Controls choose the account number, and if you use several books, you can pick those as well.
Also affecting A/R, the Customer has a G/L Control, so you can change behavior there, as you mentioned.
If no overrides are set at lower objects, the Site/Company defaults determine which accounts are chosen.
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Oh, the Kinetic A/R Hierarchy Technical Reference is a great guide to find out how which objects and their G/L Controls affect postings.
Kinetic AR Hierarchy Technical Reference Guide (epicweb.com)
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I think Company and Customer are the only places where you can set the AR Account type GL Control. The controls available for Product Group do not change the AR account posted to by the invoice.
You can add account contexts to the GL Control types but that will require customizing the posting rules to implement, which is not a simple customization. As far as I can tell, this won’t happen out-of-the-box.
Edited to add:
As with most things where you want to customize the system, especially when it comes to financial transactions, I would ask “what is your end goal?” Typically you would not separate your receivables on the balance sheet based on product group. Revenue, yes, but does your company really need to know which products are driving your current receivables?
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@tsmith is a wiz when it comes to so many things in Epicor, but I am always impressed with his depth of knowledge on the finance side.
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We need to separate out our Milestone billings vs our Retainage billings. Both different horses as far as AR goes. One is short term AR one is long term AR and the bank needs to see them seperate
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Are you using the Projects module then? When you say Retainage Billings, do we mean Deferred Revenue?
We use projects module. We do milestone billing on everything. But some invoices need to go to standard AR since they will be paid in 30ish days. But the final invoice needs to go to Retainage AR since it could be months before its paid. Bank needs to know we have that AR there but it cannot be mingled w/standard AR
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I’m not an accountant, but I play one on EpiUsers. I would think the A/R Aging report is going to show the bank when that A/R is due. Wouldn’t the Deferred Revenue account show the bank what you’re waiting to recognize? Again, I’m not expert and it’s been a few years since I’ve used the Project module.
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Our company doesn’t do milestone billing where we have to worry about retentions or retentions receivable. However, Mark is right that Epicor doesn’t have a report that will split your AR from your Retentions Receivable. I think you should be able to make the balance sheet work and make the bank happy by netting your deferred revenue from your AR to see what hasn’t been earned yet.
It’s not a direct solution, but someone with more experience with milestone projects may know how their company set it up to accurately capture retentions. Regardless, I think it’s intended to be “handled” through the normal projects system instead of using different GL Controls.
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All milestone billing goes to deferred though and goes to sales on rev rec. I can split out my AR report via GL Control. Just need some way to post those retainage invoice to Retainage AR…