TurboCASH allows two methods of processing debit transactions and credit transactions. These age type processing methods are:

Balance brought forward -

oDebtor (customer) accounts - The credit transactions (payments received, debtor allowances, credit notes or any other credit transaction) are allocated to the oldest outstanding debit transaction (opening balances, invoices, etc.) amount.

oCreditor (supplier) accounts - The debit transactions (payments made to creditors, creditor allowances or supplier returns documents or any other debit transaction) are allocated to the oldest outstanding credit transaction (opening balances, purchases, etc.) amount.

Open item -open-item-activate-debtor-creditor

oDebtor (customer) accounts - Open item is by default not activated. To activate Open item processing for a debtor (customer) account, select (tick) the “Open item” field on the Accounting information tab of a selected debtor (customer) account.  

The credit transactions (payments received, debtor allowances, credit notes or any other credit transaction) may be linked to any selected outstanding debit transaction (opening balances, invoices, etc.) amount. 

oCreditor (supplier) accounts - Open item is by default not activated. To activate Open item processing for a  creditor (supplier / vendor) account, select (tick) the “Open item” field on the Accounting information tab of a selected creditor (supplier / vendor) account.  

The debit transactions (payments made to creditors, creditor allowances or supplier return documents or any other debit transaction) may be linked to any selected outstanding credit transaction (opening balances, purchases, etc.) amount. 

oGeneral ledger accounts - Accounts (Action ribbon) "Open item account" field – Default is No. You may set it to Yes. open-item-activate-ledger

The "Open item account" setting is not available for the following accounts:

Retained earnings / Retained income - This account reflect the Net profit/Net loss.

Debtors control - This account reflect the total of the individual debtor (customer / client) accounts in the general ledger. You may set selected debtor (customer / client) accounts as an "Open item account" on the Accounting information tab. 

Creditors control - This account reflect the total of the individual creditor (supplier / vendor) accounts in the general ledger. You may set selected creditor (supplier / vendor) accounts as an "Open item account" on the Accounting information tab.  

You may link debit transactions to credit transactions or credit transactions to debit transactions.