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Future Dated Invoices
Future Dated Invoices
The Accounts Receivable module supports the entry and processing of future dated invoices and future receivable invoices. Future dated invoices record billings for future accounting periods. The accounting distribution for these invoices is maintained in the Accounts Receivable module until the period in which the accounting distribution is to be sent to the general ledger. This facility allows users to enter future dated invoices into the Accounts Receivable module without affecting the general ledger until the correct period.
Future receivable invoices are not due in the current period. They are sent to the general ledger in the period in which the invoice accounting date falls. The system classifies future receivable invoices as currently due when the due date for the invoice falls in the current aging period. At this time, the due date causes the invoice to be included in the current aging category.