Content Comparison

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• Create GF Invoices routine will create one GF invoice per Salesforce Invoice, even if there are more than one invoice lines.

  • If the Salesforce Invoice’s Status = Posted (a CPQ field), the system will automatically post the GF invoice created by calling the GF posting routine.

  • Does Home Water post the Salesforce Invoices?

  • What does the posting do?

Post GoldFinch Sales Invoices

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• When processing the invoice lines, the system will sort them by the Start Date. Then, it’ll process the invoice lines sequentially.

• It will calculate the Remaining Principal Amount = LR Booked Amount - Total LR Amount Paid

• Monthly Entry

  • Interest Amount = Remaining Principal Amount * Interest Rate / 100 / 12

  • Lease Receivable = MRR Amount - Interest Amount

Cancel an Amortization

• Navigate to the Lease Amortization record that you want to cancel.

• Click the Cancel Lease button to initiate the process.
  

  

• A cancellation entry will be inserted into the amortization schedule.

  • Lease Receivable = LR Booked Amount - Total LR Amount Paid

  • Invoice Date = Today()

  • The system will flag the amortization as canceled.

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• Lease Amortization Line Type = Initial Entry

  • Debit Lease Receivable Account

  • Credit Product Revenue Account

    

• Lease Amortization Line Type = Monthly Entry

  • Debit Cash Account (Invoice Amount $18.35)

  • Credit Lease Receivable Account (Lease Receivable $11.40)

  • Credit Interest Income Account (Interest Amount $5.55)

  • Credit Sales Tax Payable Account (Sales Tax $1.40)

    

• Lease Amortization Line Type = Cancellation

  • Debit Write-off Account

  • Credit Lease Receivable Account

    

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• The system will create reverse G/L entries if un-post is successfully run.

  • Sample reverse entries:

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Open Questions/To Dos

1. Do not create GoldFinch invoices.

2. Create Amortization and Amortization Lines directly from Salesforce Invoice Lines.

3. Salesforce Invoice Lines should have a field for Sales Tax (I think you need to bring Sales Tax to a field on the Amortization Line to create debit and credit)

4. Discount and Down Payment are separate Salesforce Product

5. For Down Payment, and Monthly Invoices payments. Don’t debit to the Cash Account.,

   1. DR Accounts Receivable

   2. CR Lease Receivable

6. Work with Umiar to create and test different test cases:

   1. Salesforce Invoice with one product

   2. Salesforce Invoice with multiple products.

   3. Salesforce Invoice with discount

   4. Salesforce Invoice with sales tax (Texas charges Sales Tax on the first invoice?)

   5. Salesforce invoice with downpayment

7. For the first invoice, which field is the deposit amount?

   1. It is a separate product

8. How do Discounts and Write-offs affect Sales Tax Payable?Do we need to create GoldFinch invoices for the first Salesforce Invoices

   1. ???

9. GL Accounts for Posting?

   1. CA and US?

   There are multiple First Invoices for the same subscription/order product.

   1. GL Ledger?

   2. Chart of Account should not have GL Ledger code

10. Any fields in the invoice or invoice line that indicate when the subscription ends?

11. Go Live, how should we handle open invoices?

    1. if we mass-create GF invoices and Amortization entries for existing Salesforce Invoices will it cause GL issues? such as double count?

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