Revenue/AR Netting - REV267

This program allows revenue to be netted against open invoices in Accounts Receivable. When the process is executed, the system selects owner_detail records with jib_net flags and reviews the revenue pay balance for each owner. Owners with revenue pay balances greater than zero ($0) have those pay balances applied to open AR invoices on a FIFO (first in, first out with the oldest invoices netted first). The program then creates an invoice adjustment item for each invoice that a revenue pay balance is applied to.

The program creates a Detail Sales Ledger item for the total revenue pay balance that was applied to all invoices for an owner. This DSL record contains the dummy netting well number which was specified in the Rev/AR Netting Defaults (REV297) program. The general ledger account used for the invoice adjustments and detail sales created is the JIB Netting Account designated in the JIB Default Setup (JIB295) program.