Utilize the Open Invoices Template to record any outstanding invoices, capturing essential details such as the invoice number, date, due date, customer name, total amount, and the remaining unpaid amount. This comprehensive record aids in managing and tracking open invoices effectively.
Follow the step-by-step instructions to complete the Migration Accounts Receivable Template from your AR statement for accurate sales records.
AR Summary (as extracted from the Books)
Here is the Sample AR Summary (extracted from the Books)
| S.NO | Date | Customer Name | Ref* | Amount* | Tax | Total |
| 1 | 12-01-2022 | Abc & Co | Dec22-1 | $ 4200 | $ | $ 4200 |
| 2 | 12-11-2022 | Raj & Company | Dec22-8 | $ 2500 | $ | $ 2500 |
| 3 | 12-12-2022 | Raheja Group | Dec22-9 | $ 3450 | $ | $ 3450 |
Details of AR Transactions:
1) Invoice outstanding with Customer Abc & Co for USD 4200 - Accounts Receivable - Product1
2) Invoice outstanding with Customer Raj & Company for USD 2500 - Accounts Receivable - Product2
3) Invoice outstanding with Customer Raheja Group for USD 3450 - Accounts Receivable - Product1
Here is the Sample Migration AR Template updated based on the above open invoice:
| Fields | Description |
| Date | Date of Transaction |
| Reference | Reference number for the transaction |
| Customer Name | Name of the Customer |
| Amount | The amount of the Line Item |
| Tax | Tax associated with the invoice |
| Category | Name of Product/Service |
| Terms | Aging of the Customer |
| Related to Previous Year | If the transaction is related to the previous year |
Let's break down the Migration AR (Accounts Receivable) Template Fields and their corresponding information:
Date: This field requires you to input the specific date when the transaction occurred, providing a chronological record of each Accounts Receivable entry.
Reference: The reference number serves as a unique identifier for the transaction, aiding in easy tracking and reference
Customer Name: Here, you specify the name of the customer associated with the transaction, providing clarity on who the transaction involves.
Amount: This field captures the monetary value of the transaction, indicating the total amount for the specific line item.
Tax: If there is any tax applicable to the transaction, this field records the associated tax amount.
Category: Specify the category or name of the product or service related to the transaction, providing context to the nature of the entry.
Terms: This field often refers to the aging of the customer's account, indicating how long the invoice has been outstanding or unpaid.
Related to Previous Year: Use this field to mark whether the transaction is associated with the previous year, providing insights into historical data.
Example Transaction 1:
Invoice outstanding with Customer Abc & Co for USD 4200 - Accounts Receivable - Product1
| S.NO | Date | Customer Name | Ref* | Amount* | Tax | Total |
| 1 | 12-01-2022 | Abc & Co | Dec22-1 | $ 4200 | $ | $ 4200 |
Here is the Sample Migration Account Receivable Register updated based on the above open invoices.
Example Transaction 2:
Invoice outstanding with Customer Raj & Company for USD 2500 - Accounts Receivable - Product2
| S.NO | Date | Customer Name | Ref* | Amount* | Tax | Total |
| 2 | 12-11-2022 | Raj & Company | Dec22-8 | $ 2500 | $ | $ 2500 |
Here is the Sample Migration Account Receivable Register updated based on the above open invoices.
Example Transaction 3:
Invoice outstanding with Customer Raheja Group for USD 3450 - Accounts Receivable - Product1
| S.NO | Date | Customer Name | Ref* | Amount* | Tax | Total |
| 3 | 12-12-2022 | Raheja Group | Dec22-9 | $ 3450 | $ | $ 3450 |
Here is the Sample Migration Account Receivable Register updated based on the above open invoices.
If you encounter any challenges, feel free to reach out to us at migration-support@saasant.com