A. A/R OPEN ITEM FILE
When the RIH/LIT Processing program is run, you will see displayed on the screen all of the records in the A/R Open Item file that were created from "RIHLIT-type" transactions, which are listed below. These items can be selected individually for reconciliation.
When RAs are posted to Accounts Receivable, those that are "RIHLIT-type" transactions are defined by the following phrases which appear in the "PO Number" field.
1. When, on a one-way rental, a customer pays for his contract at a Corporate Location, the money collected at the foreign location (which is used as an FOP) posts as:
Doc Type = I, Description = CASH DR
2. When posting a foreign RA which originally opened at a Corporate Location and payment was received at your site, the cash owed posts as:
Doc Type = C, Description = CASH OWED
3. When posting a foreign RA with a corporate owned vehicle, any charge for your gas posts as:
Doc Type = D, Description = GAS DR
4. When posting one of your contracts that closed at a Corporate location and gas was added to the vehicle at the time of close, the gas charge owed to the Corporate location posts as:
Doc Type = C, Description = GAS OWED
5. When posting a foreign RA with one of your cars, the revenue split due to you posts as:
Doc Type = I, Description = SPLIT DR
6. When posting one of your RAs which involved a Corporate Owned vehicle, the revenue split owed posts as:
Doc Type = C, Description = REV SPLIT
RIH/LIT Processing Rpt Code: RC - Rental Commission Chg
7. Credit card transactions for cards which are settled by the Data Center in Oklahoma City post to appropriate receivable account. They are set up with "BC" as the FOP Type.
B. SET UP REQUIREMENTS
In order to use this program, the following files must be set up correctly:
1. All Corporate locations in your Customer File must be assigned Customer Type "F". Foreign Licensee locations must be assigned Customer Type "L".
2. The G/L account number for the RIHLIT Clearing Account must be entered in the Valid G/L Account File and then in the Hertz Control Record.
C. REPORT TYPES
You can produce two types of reports:
1. A Test Report showing what will happen if RIH/LIT processing is actually done.
2. A Real Report showing the RIH/LIT processing transactions. Reversing entries are written to the A/R Open Item File. An entry is made to the A/R Distribution File debiting or crediting the G/L account for A/R (depending on whether you owe the Corporation or they owe you) and a balancing entry is made to the RIHLIT clearing account.
D. RUNNING THE PROGRAM
To access the Hertz RIH/LIT Processing program, type RIHLIT (RET) at any menu"OPTION:" field or the appropriate line number on the Hertz Programs Menu. The screen will then display:
| OPTION: __ RIH/LIT PROCESSING 1. Company ID 2. Run Mode 1 (1=Test, 2=Real) Sta# RA# Code Date Reference Amt Select 1BEGIN 2PAGE DOWN3ERASE 4PAGE UP 5 6 7HELP 8MARK ALL |
Enter data as follows:
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1. COMPANY ID |
Enter the number of the company for which you want to do RIH/LIT processing. EXAMPLE: Type 00 (RET) After entering the company number, the name of the company will be displayed at the bottom of the screen with the message: IS THIS CORRECT (Y/N)? Answer appropriately to continue. The program will then display the following message: SELECTING ITEMS FOR PROCESSING Transactions in the open item file eligible for processing will display on the lower part of the screen. |
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2. RUN MODE |
1 = Test Run 2 = Real Run TEST RUN - Enter 1 to request a Test Report. You may want to run a Test Report prior to running a Real Report and select all items. The Test Report can be used as a worksheet and possible problems can be found before the RIH/LIT processing transactions are actually posted. The default value for this field is 1. In order to have all transactions print for a worksheet, use the F8 "Mark All" feature. REAL RUN - Enter 2 to request a Real Report and post the RIH/LIT reversing entries to Accounts Receivable. EXAMPLE: Type 1 (RET) |
The screen will then display:
| OPTION: __ RIH/LIT PROCESSING 1. Company ID 00 2. Run Mode 1 (1=Test, 2=Real) Sta# RA# Code Date Reference Amt Select HCC 00000110 CB 05/19/04 BATCH INVOICE 185.40 HCC 00000116 CB 05/20/04 BATCH INVOICE 436.00 SAT11 51144150 CM 05/15/04 159.00 PHO11 L7475555 GO 05/15/04 ALLEN 13.65 CR ATL11 41287770 LC 05/16/04 CASH 200.00 CR PHO11 L7475555 RC 05/15/04 ALLEN 114.00 CR DFW11 L7475635 RC 05/21/04 GRAY 168.00 CR SAT11 L7475670 RC 05/17/04 MANN 192.00 CR SAT11 51144198 SB 05/18/04 25.00 AUS11 L7475532 SC 05/19/04 BENTLEY 290.59 PHO11 L7475555 SC 05/15/04 ALLEN 85.24 DFW20 L7475570 SC 05/20/04 SMITH 229.26 1BEGIN 2PAGE DOWN3ERASE 4PAGE UP 5 6 7HELP 8MARK ALL |
Abbreviations used in "Code" column refer to the transaction type which in turn are referenced to Section A at the beginning of this chapter.
CM Credit Memos See A-5 above: SPLIT DR
GO Gas Owed See A-4 above; GAS OWED
LC Licensee Cash Payment See A-2 above; CASH OWED
RC Rental Commission Charge See A-6 above; REV SPLIT
SB Service Billings See A-3 above; GAS DR
SC Station Cash Collection See A-1 above; CASH DR
CB Central Billing See A-7 above
Compare the transactions on your RIH/LIT monthly statement to those displayed on the screen.
In the column on the right headed "Select", indicate if you want to select a transaction by typing a "Y" on the proper line. You can use the "F8" key to mark all transactions. The "F2" and "F4" keys are used to page up and down.
Once you escape to the OPTION and press F1, if it is a real run, the following message will be displayed:
DO YOU WANT TO CREATE REVERSING ENTRIES (Y/N)
Yes -- reversing entries will be created in A/R and entered into the customer's accounts with an explanation of "RIHLIT RE" in the PO Number Field. A corresponding entry will be made in the A/R Distribution File. The date used for reversing entries is the actual date you are running the procedure. The "real run report" should be kept with your other A/R journals as it is your source document for these entries.
No -- reversing entries will not be created. The transactions remain eligible for selection again in the future.