Customer accounts - Accounting information tab

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1.Click on the Accounting information tab.

2.Enter and / or select the following, if necessary:  

a)Account disabled - This field should not be selected (ticked) if you wish to enter and post transactions to the customer account. Select (tick) this field if you wish to disable the customer account (e.g. if you no longer do business with this customer). TurboCASH will allow you to enter transactions for the customer, but it will not allow you to post transactions to the customer account. However, you will still be able to view reports for the customer.

b)Open item account - Select (tick) this field if you wish to allocate or link receipts or credit notes (credit transactions) to a particular invoice or debit transaction. If this field is left blank, the Balance B/F (brought forward) posting method will be used, where payments received or credit notes issued are allocated against the oldest outstanding amount.

c)Due days - Enter the number of days for the credit facility granted to the customer.

This date will be used to calculate the date when payments are to be received from customer on sales documents (i.e. invoices, credit notes or estimates) and via the electronic payment system in the Automatic receipts journal processing option. It will also print on sales documents (i.e. invoices, credit notes or estimates).

d)Credit limit - Enter the credit limit which you have agreed and granted to your customer. When you are processing transactions, TurboCASH will warn you if the customer is exceeding this credit limit.

It will also display the Available balance (i.e. Current balance minus the Credit limit) on sales document entry screens (i.e. Invoices, Credit notes or Estimates).

The Calculator's buttons may also be launched from the Credit limit field.

e)Charge amount - Enter an amount as agreed upon when you have granted the credit facility to your customer.

You may generate Multiple Transactions - Customers with charge amount option in any Journal type or Journal (except the Receipts and Payments journal types). When you post this Journal, TurboCASH will debit (increase the customer account) for each of the customer accounts with the amount specified in this field and credit a specified account (e.g. Income account).

The Calculator's buttons may also be launched from the Charge amount field.

f)Customer discount - You may enter a percentage for the customer discount which you wish to allow to the specific customer.

The discount will automatically be calculated on the selected selling price of a selected inventory item (if the Allow Invoice Discount field is selected on the Action → Inventory items screen) when sales documents (i.e. invoices, credit notes or estimates) are created or edited for the selected customer.

g)Monthly interest on overdue amounts (percentage) - The percentage of the monthly interest on overdue accounts that will be charged to the customer.

If the annual interest is 18%, you would enter 1.5% (18 / 12 months) for the monthly interest. Another example, if the annual interest rate you wish to charge is 24% (24 / 12 months), you would enter 2 %).

You may generate Multiple Entries - Interest on overdue customers option - in any Journal type or Journal (except the Receipts and Payments journal types). TurboCASH will calculate the interest for the number of overdue days for each customer account for which you have entered an amount in this field.

When you post this Journal, TurboCASH will debit (increase the customer account) for each of the customer accounts with the amount specified in this field and credit a specified account (e.g. Interest Income account).

h)Selling prices - You may select any one of the three (3) available selling prices as the default selling price for this customer.

If you have changed the descriptions of your selling prices 1 / 2 / 3 in Setup → Inventory information, your own descriptions will be displayed on the list.

i)Bank account type - Select Arbitrair or 11 Proof. This is for electronic payments received from customer accounts via the electronic banking system.

11-Proof - See - http://nl.wikipedia.org/wiki/Elfproef

Arbitrair - Random - not controlled

j)Bank account no. - Enter the bank account number, if available.

k)Bank name - Enter the bank account name, if available.

l)BIC - (Bank Identifier Code). Enter, if available.

m)IBAN - (International Bank Account Number). Enter, if available.

See - http://en.wikipedia.org/wiki/International_Bank_Account_Number

n)Signature - Enter, if available.

SWIFT - (Society for Worldwide Interbank Financial Telecommunication) - See - http://en.wikipedia.org/wiki/SWIFT / http://www.theswiftcodes.com/

SEPA - (Single Euro Payments Area) - See - http://en.wikipedia.org/wiki/Single_Euro_Payments_Area

o)Signature date - Enter, if available.

p)Inventory file override - By default, the Inventory file override settings is not activated. If necessary, select the following:

i)Use default account - By default, the "Use default account " option is not selected. The Sales account, as selected on the on the Action → Inventory items, will be used when invoices or credit notes for the customer is updated (posted) to the ledger.

If you activate the Use default account settings, you need to select a different account on the Accounts lookup facility.

When invoices or credit notes for the customer is updated (posted) to the ledger, the selected Sales account for this Inventory item will be ignored and the sales transaction will be updated (posted) to the specified account for the customer.

ii)Use default tax - By default, the "Use default tax" option is not selected. The Output Account, as selected on the on the Action →Inventory  items screen, will be used when invoices or credit notes for the customer is updated (posted) to the ledger.

If you activate the Use default tax settings, you need to select a different VAT/GST/Sales Tax account or code on the Tax Lookup.

When invoices or credit notes for the customer is updated (posted) to the ledger, the selected Tax account or code for this Inventory item will be ignored and the Output VAT/GST/Sales Tax transaction will be updated (posted) to the specified VAT/GST/Sales Tax account or code for the customer.

Do not select this option, if you are not registered for VAT/GST/Sales Tax, or if multiple Tax codes (accounts) is applicable to the transactions with the customer.

If you do not generate sales documents (Invoices, Credit notes and Estimates), the selling prices and customer discount fields are not applicable.

3.Click on the Save button. TheCustomer  account Form will be closed and theCustomer  accounts List screen will be displayed.

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