Setups
Company Setup
Field Name | Help |
|---|---|
Lease Receivable G/L Account | Lookup(GL Account) |
Account Sales Tax Payable | Lookup(GL Account) |
Default Loan Interest Rate | Default Interest Rate(%) uses in the amoritization calculation, unless overwritten by Product2.GF_Interest_Rate__c |
Account Posting Setup
Field Name | Help |
|---|---|
Interest Income G/L Account | Lookup(GL Account) |
Write-Off G/L Account | Lookup(GL Account) |
Create GF Invoice from Salesforce Invoice
Salesforce Invoice Line List Views
First SF Invoices Lines with GF Invoices
Filters:
First Invoice = True
GF Sales Invoice Line != ‘'
Charge Type = ‘Recurring’
Order Product != '’
First SF Invoices Lines w/o GF Invoices
Filters:
First Invoice = True
GF Sales Invoice Line = ‘'
Charge Type = ‘Recurring’
Order Product != '’
Monthly SF Inv. Lines w/ AMT Lines
Filters:
First Invoice = False
Lease Amortization Line != ‘'
Order Product != '’
Monthly SF Inv. Lines w/o AMT Lines
Filters:
First Invoice = False
Lease Amortization Line = ‘'
Order Product != '’
Create GF Invoices
Navigate to First SF Invoice Lines without GF Invoices view
Select the Salesforce Invoice Lines that you want to create GF Invoices for.
Click the Create GF Invoices button.
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
Most GoldFinch Sales Invoices should be posted already, assuming Home Water posts Salesforce invoices before the Create GF Invoices routine is run.
Batch Post the remaining GoldFinch invoices.
Navigate to GoldFinch Sales Invoices.
Click the Open view.
Select all, then click the Batch Post button.
Create Amortization from Sales Invoice Lines (GFERP Sales Invoice Line)
Sales Invoice Line List Views
First Invoices Not Posted
Filters:
SF First Invoice = True
Document Status = ‘Open'
GF Invoices Posted with Amortization
Filters:
SF First Invoice = True
Document Status = ‘Posted'
Lease Amortization Line != ''
GF Invoices Posted without Amortization
Filters:
SF First Invoice = True
Document Status = ‘Posted'
Lease Amortization Line = ''
Create the Amortization Schedule from the Sales Invoice Lines (Header and Lines)
Navigate to Sales Invoice Line - GF Invoices Posted without Amortization view
Select the lines you want to create Amortization Entries for.
Click the Create Amortization Entries button
If the first invoice contains multiple months of payments, the system will automatically generate multiple Monthly amortization line entries.
Navigate to the GF Invoices Posted with Amortization list view.
Click on the Sales Invoice record to view the amortization entries generated for the invoice in the Lease Amortizations section.
Amortization Schedule
The system will create one Lease Amortization Schedule per Order Product if there are multiple invoice lines with different Order Products.
The principal amount P(LR Booked Amount) is calculated using this formula:
Variables:
P = LR Booked Amount
PMT = MRR Amount
r = Interest Rate/12
n = Term(months)
Calculate the Amortization Schedule on runtime and store the schedule in memory for later access.
When processing the invoice lines, the system will sort them by the Start Date. Then, it’ll process the invoice lines sequentially and pull the scheduled values accordingly.
The system will create at least two Lease Amortization Lines entries from First Invoice Line:
Initial Entry
Lease Receivable = LR Booked Amount
Monthly 1 Entry
Lease Receivable = Principal Amount $18.07 (Calculated Scheduled Column 1)
Interest Amount = Interest Amount $1.88 (Calculated Schedule Column 1)
If there are multiple payments in the first invoice then:
Monthly 2 Entry
Lease Receivable = Principal Amount $18.22 (Calculated Scheduled Column 2)
Interest Amount = Interest Amount $1.73 (Calculated Schedule Column 2)
Lease Amortization
Field Name | Help |
|---|---|
Customer | blng_Account__c |
First Invoice | Salesforce Invoice > First Invoice = True |
Fully Paid | Formula(Total LR Amount Paid = LR Booked Amount) |
GF Invoice Line | |
GF Sales Invoice | |
Interest Income GL Account | |
Interest Rate | Company Default > Default Loan Interest Rate, Can be overwritten by Product > GF_Interest_Rate__c |
Item | Invoice Line > Product > Item |
Lease Receivable GL Account | |
LR Booked Amount | Calculated Principal Amount |
MRR Amount | Invoice Line > Order Product > Billable Unit Price |
Open Lines | Roll-Up Summary COUNT Lease Amortization Line (Post != True) |
Order Product | Invoice Line > Order Product (One Order Product per Lease Amortization) |
Original Ownership | Order Product > Original Ownership |
Revenue G/L Account | |
Starting Date | Invoice Line > Start Date |
Term | Invoice > Invoice Line > Product > Product_Contract_Term__c |
Total Discount | Roll-Up Summary (SUM Lease Amortization Line Lease: Discount Amount) |
Total Interest Paid | Roll-Up Summary (SUM Lease Amortization Line Lease: Interest Amount) |
Total Invoice Amount | Roll-Up Summary (SUM Lease Amortization Line Lease: Invoice Amount) |
Total Lines | Roll-Up Summary COUNT Lease Amortization Line |
Total LR Amount Paid | Roll-Up Summary (SUM Lease Amortization Line: Lease Receivable), Line Type = Monthly Entry |
Write-Off GL Account | |
Cancelled | True if Lease Amoritization is cancelled using the Cancel Lease button |
Currency |
Lease Amortization Lines
Field Name | Help |
|---|---|
Type | INITIAL_ENTRY, MONTHLY_ENTRY,CANCELLATION |
Invoice Date | SF Invoice Posting Date |
Invoice Amount | SF Invoice Line: TotalAmount. (Include |
Lease Receivable | |
MRR Amount | Monthly Payment Amount |
Posted | True if the line is posted |
SF Invoice Line Calculated Qty. | |
Tax Amount | |
Interest Amount | |
Discount Amount | |
SF Sales Invoice | |
SF Sales Invoice Line | |
Currency |
Create Monthly Amortization Entries From Invoice Lines (Salesforce Invoice Line)
Navigate to the Monthly SF Inv. Lines w/o AMT Lines Invoice Line list view.
Select the Invoice Lines for which you want to create monthly amortization entries.
Click the Create Monthly Amortization Entries button to initiate the process.
The system will search for exiting Lease Amortization using Salesforce Invoice Line’s Order Product, if the Order Product has a Lease Amortization record, then the routine will use the Salesforce Invoice Line data to create a Monthly Amortization Entry under the linked Lease Amortization.
The system will search for existing Lease Amortization records using the Order Product associated with the Salesforce Invoice Line. If the Order Product is linked to a Lease Amortization record, the routine will utilize the data from the Salesforce Invoice Line to generate a Monthly Amortization Entry under the corresponding Lease Amortization.
If Lease Amortization is not found, an error message will be written on the invoice line, letting the user know to create an amortization schedule for that invoice line.
Monthly Amortization Line Entry Calculation
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.
Post & Un-Post Amortization
Lease Amortization Line List Views
Open
Filter:
Posted = False
Post
Filter:
Posted = True
How to Post Amortization Entries
Navigate to the Lease Amortization Line - Open list view.
Select entries and then click the Post button to initiate the posting process.
G/L Entries Examples
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
How to Un-Post Amortization Entries
Navigate to the Lease Amortization Line - Posted list view.
Select entries and then click the Un-Post button to un-post.
The system will create reverse G/L entries if un-post is successfully run.
Sample reverse entries:
Open Questions/To Dos
Do not create GoldFinch invoices.
Create Amortization and Amortization Lines directly from Salesforce Invoice Lines.
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)
Discount and Down Payment are separate Salesforce Product
For Down Payment, and Monthly Invoices payments. Don’t debit to the Cash Account.,
DR Accounts Receivable
CR Lease Receivable
Work with Umiar to create and test different test cases:
Salesforce Invoice with one product
Salesforce Invoice with multiple products.
Salesforce Invoice with discount
Salesforce Invoice with sales tax (Texas charges Sales Tax on the first invoice?)
Salesforce invoice with downpayment
For the first invoice, which field is the deposit amount?
It is a separate product
How do Discounts and Write-offs affect Sales Tax Payable?
???
GL Accounts for Posting?
GL Ledger?
Chart of Account should not have GL Ledger code
Any fields in the invoice or invoice line that indicate when the subscription ends?
Go Live, how should we handle open invoices?
if we mass-create GF invoices and Amortization entries for existing Salesforce Invoices will it cause GL issues? such as double count?