Bulk Receipts

Depending on whether the Working Periods feature is enabled and on your Security Profile permissions, it may be possible for you to continue to post financial changes, for month end procedures, even after the posting period has been advanced; in this situation the Period becomes a drop-down and you can select the appropriate period.

According to HMRC rules, VAT on all invoices should be based on the full price. Suppliers must account for VAT on the amount they actually receive, and Customers can recover the amount of VAT that is actually paid. As such, a Credit Note is automatically generated for any Settlement Discount value and allocated to the invoice and payment so that VAT is correctly accounted without the need for manual adjustments. More information with examples is available; see How To… » VAT on Settlement Discounts.

Bulk Receipts Selection

You can open the Bulk Receipts option by clicking on the Bulk Rct task. It will open the Bulk Receipts selection window and the Bulk Receipts window to enable you to enter receipts for multiple Sales Ledger Customers with a single process.

The Bulk Receipts selection window enables you to locate the transactions you wish to process and enter the details to be applied to all the receipts you are entering.

Calculation of VAT on all invoices should be made based on full price. The system checks the method that was used to calculate the settlement discount at the time the invoice was raised to ensure that Settlement Discounts are not applied twice to the VAT value.

Find Transaction by

The selection criteria can include a range of Customers, Transaction Dates, Due By dates, Settlement Date, Invoice No. and/or O/S Invoice Value.

The Dates only select Invoices and Debt Adjustments that increase Customers Balances, all other transactions are always listed.

Entry of a ‘from' date will only include transactions from and including that date.
Entry of a 'to' date will include transactions up to and including that date.
You can leave both blank or just enter one of them.

In addition you can select by Currency, User Keys and/or Exclude Future Period Transactions.

Payment Detail

The payment details includes the Receipt Reference and Receipt Date. The Reference entered here will be printed on the receipt document.

Click on the search button to set the Bank and Discount Nominal Accounts.

Discount

Clicking the Set % button overrides the default display of Settlement Discount. Clicking the button once will clear any Settlement Discount already displayed. Clicking a second time will re-display any Discount it has previously cleared. Clicking on this button will apply Settlement Discount to the currently highlighted Transaction, using the Terms set for that Customer. If there is a Discount, it will be entered into the list, subtracted from the Allocated amount shown, and added to the Settlement Discount amount shown. You may overwrite this if you wish. If there is no Discount for that Customer, a message will inform you. No change will be made to any of the details shown. However if you wish to grant a Settlement Discount, you can enter an amount in the Discount box, provided that it is less than the Allocated amount.

If settlement discount and Multiple Due Dates are set on the same transaction, then the settlement discount is ignored.

If either of the Analysis codes is blank when you click Display, a Sales Analysis Selection list for the selected currency is displayed. Select the analysis required.

Toolbar tasks

Clicking on the Display button will display a Bulk Receipts window listing the Transactions that match the criteria that you have set up.

Bulk Receipts

Clicking on the button on the Bulk Receipts selection window will display a list of the Transactions that match the criteria that you have set up.

Clicking Set % button overrides the default display of Settlement Discount. Clicking the button once will clear any Settlement Discount already displayed. Clicking a second time will re-display any Discount it has previously cleared.

Customer Clicking this button will display a Bulk Receipts window which lists all of the Customers who have Transactions to be allocated, and the Value for each, you can drag this window to another part of your screen so that you can see both.

Double clicking a Customer line in the list, will Allocate all of the Transactions for them in a Bulk Receipts window.

Double clicking again will de-Allocate them.

Clicking the Allocate Line button copies just the currently highlighted lines, while clicking the Allocate All button copies the full Outstanding value of every Transaction displayed, to the Allocated Value box.

Individual Transactions can be selected by double clicking on them.

Partial Payment or Allocation can be achieved by selecting a Transaction, and typing a Value (up to the Value of the line), into the Allocated Value box.

Sort By - This menu enables you to sort the list by Account Code, Date (Ascending or Descending), Audit No., Reference or Outstanding Value (Ascending or Descending). The default when the window opens is Account code.

ALLOCATION NOTES

The system displays the value still Outstanding to be allocated for each Transaction in the list, and the highest Settlement Discount percentage available (which may be nothing if the Receipt is too late).

There are several ways in which you can allocate transactions:

You can select to allocate all transactions displayed in the Remittance list window, by clicking the toggle button.
You can select transactions individually with the mouse, and either double click on them in the list to allocate their entire value, or single click and enter the required value in the Allocate Value field.
You can click on the Customer button and display a list of the Customers, double clicking a Customer in this list allocates all of their transactions.

Receipt Balance Shows the total Allocated Value of Transactions selected less the Settlement Discount, and therefore represents the accumulating value of your Receipts.

Outstanding Balance Shows the total value of all Transactions in the list and therefore represents the maximum value of Invoices.

Clicking this button displays a series of messages before posting Receipts.

If using Currency and a Currency Account is being allocated then the values will be in the Currency of that Customer.

Dispute flag

D button

The Dispute flag can be set to indicate that a transaction is being disputed. In some areas of the software, this Dispute Flag is also referred to as a Query Flag. Once set, a transaction will appear marked with an * (asterisk symbol).

Setting this flag against transactions will help you to identify which transactions should not be chased. Additionally, a Query Type allows transactions to be grouped for later analysis.

You should first highlight a transaction then tick Disputed (checkbox in the footer, or select the 'D' column). The Query Details dialog then opens where you can select an optional PL Query Type, which you should save and then OK. You are able to amend the Notes which will leave an update date/time stamp.
You can also close the dialog without selecting a Query Type, or
You can cancel/remove the Disputed status on the Terms window.

You can print a report of disputed transactions.