Finance

• Arrange Customer/Vendor Entries
• Company Bank Account
• Original Due Date
• Repayments
• Edit Document Posting No.
• Enhanced Fiscal Reports
• Calculate balance in entries pages
• G/L Adjustment Entries
• Improved Accruals

Arrange Customer/Vendor Entries

With this function you can arrange existing Customer or Vendor Ledger Entries, adding, removing or grouping the installments.

From the Customer Ledger Entries page, select the document to arrange (all installments will be searched by Customer No., Document Type, Document No., Posting Date and Currency Code) and select the action "Arrange Entries".

Arrange the entries as you want in the details page and select the action "Apply".

If controls have succeed, the new installments are written in the ledger.

In case of rounding amounts, the difference will be placed on the last installment.

The original Transaction No. is retained, in case of new installment a "dummy" G/L Entry will be added at the end of the table to preserve Transaction No. sequence.

Company Bank Account

Company Bank Account is copied from documents (Sales Header, Purchase Header, Finance Charge Memo Header) to related entries.

The field is editable.

Company Information

The "Preferred Bank Account" field is added to "Company Information" to automatically complete payment information from Bank Account Master Table.

Original Due Date

Original Due Date (that one of the posting phase) is added to Customer and Vendor Ledger Entries.

The field is not editable for statistical purposes.

Repayments

Repayments is the function that allow to select multiple Customer or Vendor Ledger Entries and arrange them in new installments with new due dates.

Setup

Search for Repayment Setup and setup:

• No. series for draft repayments document
• No. series for issued repayments document
• General product posting group and VAT for possibile interest of the repayment

Creating a new plan

Search for Repayments list and create a new document.

Select the customer and the dates of the document. You can edit the description, the default General product posting group and VAT, the Company Bank Account and the Payment Method.

If you specify a Finance Charge Term, the interests will be applied to the principal amount of the Repayment. The interests are calculated in "progressive depreciation" (first interests, next principal amount).

Select the action "Get Entries" to add the open Customer or Vendor ledger entries to the repayment.

With the action "Suggest Installments" you can calculate automatically the installments or the repayment with the following constraints:

• Starting date of the first installment
• Date formula for the next installments
• Maximum amount of the installment

If you want to add charges (for example bank transfer costs) select the action "Charges":

• G/L account for the charge
• Description and the entire amount of the plan
• Application method of the charge (add it to the first or last installment, divide it to all installments)

You can adjust the installments as you want (changing description, due date, amount and payment method).

Calculating the plan

Before issuing the plan, select the action "Calculate" to adjust the interests for each installments.

Possible roundings are added or subtracted from the last installment.

The report "Repayment Summary" allows you to share calculation with the Customer or Vendor.

Issuing

When the repayment is complete you can issue it:

• Customer or Vendor Ledger Entries are arranged with the new due dates
• Possible interests or charges are posted with a new Finance Charge Memo

Issued repayments are archived in the "Issued Repayments List".

 

 

Edit Document Posting No.

The function allows you to change the document posting no. before posting, for example to restore a previous deleted document.

Enhanced Fiscal Reports

New enhanced fiscal reports are added:

• Customer Detailed Aging 2

Calculate balance in entries pages

The new action "Calculate Balance" allows you to view the progressive balance of the entries as shown on the page (with the same sorting and filters).

The data is temporary but very useful to check amounts.

Available in:

• Customer Ledger Entries
• Vendor Ledger Entries
• General Ledger Entries

G/L Adjustment Entries

During the closing of fiscal periods, it's often necessary to integrate the general ledger with adjustment entries. These entries are considered as draft or temporary, so them are not ready to be posted.

The "G/L Adjustment Entry" is a specific table to register these entries and view the amounts in the Chart of Account and Financial Reports. The Adjustment Entries does not take part to fiscal ledgers and can be canceled in any time.

Post as Adjustment

Simply fill a new batch and select the action "Post as Adjustment".

The entries will be transferred in the special ledger and can be viewed through Chart of Accounts in the column "Adjustment Balance".

Cancel the transactions

Adjustment Entries can be canceled in any time, modified and then posted again or deleted.

To cancel the transactions, identify the entries in the G/L Adjustment Entries page and select the action "Cancel transactions".

The entries will be transferred to the source journal.

Financial Reports

To sum normal entries plus adjustment entries you can use Financial Reports.

In the Column Definition you can select Adjustment Entries as ledger entry type.

Improved Accruals

"Improved Accruals" boost the standard deferral posting with new and useful functions.

In sales and purchases document lines it's possible to directly insert accrual starting and ending date. In general journals too.

Accrual dates are transferred to general ledger entries. Calculation is made per day basis.

Accrual recognition

Accruals are recognized after posting and are transferred to general journal. Accrual recognition is incremental for the maximum speed also in huge environments.

It's sufficent to insert "Ending Date" as recognition date to start the calculation.