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This function is used to settle debtor's invoices. Invoices can either be settled with either a bank transaction or can be offset with another credit note/link. Settlements that are incorrectly done can be reversed.
An "Into Bank" bank transaction, is used to fully or partially settle one or more unsettled invoices line links. The bank transaction needs to have an "Available Amount" greater than zero. The "Customer", "Bank Code", "Transaction Customer", and "Transactions From" in the "Bank Transaction Detail" frame needs to be entered. The "Bank Transactions" displayed in the dropdown list, will be all the unapplied transactions from the date specified in the "Transaction From" box.
If an "Out of Bank" bank transaction needs to be applied to the credit links of debtor invoices, then the "Out of Bank" option in the Direction frame needs to be selected. The default option will be the "Into Bank" option.
Once a bank transaction with an "Available Amount" greater than zero has been selected, an option in the Invoice Display Options frame must be selected. The default option will be "Unsettled Invoices". Once all the criteria have been selected the "Display" button can be clicked to result in the display of all unsettled debtor invoices.
If an invoice line needs to be settled partially, the "Settlement Amount", can be edited in the grid.
Once the invoices have been selected, the "Apply" button can be clicked to process the transaction. The "Applied" amount needs to be equal or less than the "Available Amount" of the bank transaction selected.
The function is further applied to inquire on a bank transaction/credit link that has previously been used to settled debtor invoices. Once the bank transaction/credit link has been selected, and the option "Settled Invoices" has been selected, the "Display" button can be clicked. This will result in the display of all the debtor invoices that have been settled by that specific bank transaction/credit link. This function will also allow the reversal of settlement transactions performed.
The user must have a profile linked to the function Debtors Transfer Settlement with an access allowed of Inquire.
On this tab the following fields can be viewed:
It is populated with the name, trading status, and organisation code from the External Organisation table where a valid debtors account exists.
The number of characters to be entered before the list is shown is governed by the value of "populate length" (mandatory).