Summaries overview—Accounts Receivable

About AR summaries

Summaries are collections of the same type of transactions, grouped together for processing. Until you or the system creates a new summary, no line items appear in the Summaries list page. Summaries can be either opened or closed. When summaries are open in Accounts Receivable, you can add AR sales invoices, adjustments, and deposits. In designing an Accounts Receivable process, the system administrator can give access to the pages involved with managing AR sales invoices, but not opening or closing summaries.

Summaries for AR sales invoices, adjustments, and quick deposits are created in two ways.

  • Automatically by Intacct at intervals that you configure. (Go to Accounts Receivable > Setup > Configuration.)
  • Manually by specific summaries you create and name to handle special situations.

If you have a list of transactions saved in CSV file format, you can upload it to Intacct by selecting Company > All > More > Import company data.

Automatically created summaries

Intacct can automatically create summaries so that a summary always exists for AR sales invoices and other transactions as they're entered throughout the day. Automatic summaries are created according to preselected time intervals. These summaries cannot be edited.

You set the frequency of automatic summary creation in the Configure Accounts Receivable page:

  1. Go to Accounts Receivable > Setup > Configuration.

  2. Select the Summary frequency to establish how often automatic summaries get created for each transaction type.

Intacct standardizes the date format for all automatically created summaries on the internationally accepted format of YYYY-MM-DD24:MI:SS. Standardizing the date format in the summary title ensures that transactions are always grouped or matched to the appropriate summary. It also helps eliminate the risk of posting errors due to a date format mismatch.

Manually created summaries

A manual summary is useful when you need a special summary for specific AR sales invoices and when receiving payments.

You configure manual summaries in the Configure Accounts Receivable page:

  1. Go to Accounts Receivable > Setup > Configuration.

  2. Set the Summary frequency to User-specified for the transaction types you want to use manual summaries for.

To make a payment manually, go to Accounts Receivable > All > AR sales invoices and select Add (circle) next to Receive payments-New!.