Synergetic Financial Configuration - Debtors tab
Use the Debtors tab to configure the Debtors module, including:
- control accounts
- instalment details
- statement details
- ageing set up.
The Debtors tab consists of the following sub-tabs:
- Page 1 sub-tab, described below
- Page 2 sub-tab
- Page 3 sub-tab
- Sub Ledgers sub-tab.
Finance Configuration Maintenance - Debtors tab - Page 1 key fields
Field | Description |
---|---|
Debtors Control Account | This account is used for all debtor charges and receipts. Note: You should not directly post to control accounts otherwise the debtors ledger will not balance with the general ledger. |
Accrual Accounting Method | Select this field if accrual accounting is used at your organisation. Clear this field if cash accounting is used. |
Debtors Unpaid Charges Account | Select a general ledger code for unpaid debtor charges to be allocated to when closing off the general ledger year. Note: This field is only used with cash accounting. |
Debtors Closed Off Date | Date that debtor charges are closed off and allocated to the unpaid general ledger code. Note: This field is only used with cash accounting. |
Unearned Instalments Control Account | If you use the instalments method of charging student fees, then the initial fee charge posts the first instalment to INCOME and the remainder posts to this account. Any further charges are deducted from unearned and added to income. Note: If the Auto Create First Transaction for New Instalments field is selected, all instalments are posted to this account. |
Default No of Debtor Instalments | Default number of instalments. Used as a default when entering debtor charges. The Automatic Tuition program also uses this figure. |
Default Instalment Day of Month | Default day of the month that instalments are charged. Leave as 0 (zero) for no restriction. |
Instalment Frequency | Select a default frequency so that Synergetic knows when to do the next instalment charge when you run Debtor Instalment Charges. |
Auto Create First Transaction for New Instalments | Select to automatically apply the first instalment charge to the debtor account when you run the Debtor Instalment Charges program. See Applying instalment charges in the Debtors manual. |
Print Unearned Instalments on Original Statement Only | Unearned instalment amount appears on the initial statement only if this is selected. Otherwise it shows on every statement for a debtor being charged in instalments. |
Default Bank Account | Nominate a default bank account for debtor payments. |
Billing Periods Per Year | Number of billing periods that you charge your debtors. For example, set this value to 3 if you spread tuition fees over three payments during the academic year. |
Billing Weeks Per Year | Number of weeks per year in your billing periods. For example, your organisation may not have a billing period during summer holidays. |
Statement Method for New Debtors | This allows you to determine what default statement method is used on new debtors as follows:
Both statements and invoices can be classed as an Australian tax invoice. |
Reference Type for New Debtors | Default Reference Type for new debtors. This formats the reference that is printed on statements and invoices. Values include:
Note: We recommend that you use Child Name and Surname if Different. You can change the Reference Type for individual debtors on the General tab of Debtor Maintenance. See Debtor Maintenance - General tab in the Debtors manual. Tip: You can use the Manual Reference option for leavers. This allows you to customise the text. |
Use Student Given Name in Debtor Reference | Select to include the student's given name if the Reference Type for New Debtors field uses one of the options that includes their name. In the following example, the students' given names are printed on statements and invoices. Clear the field to use the preferred name instead. In the example used, Mandy is printed on statements and invoices instead of Amanda. |
BPAY Biller Code | BPAY Biller Code used at your organisation. |
BPAY Check Formula | Select the type of check digit routine you are using for your BPAY transactions. This is usually either MOD10V01, V02 or V04. |
BPAY Minimum Length of ID | BPAY ID is always made up of the Debtor ID and possibly the linked Student ID if you are using student billing. If the BPAY ID is shorter than the number specified in the BPAY Minimum Length of ID field, it is zero filled up to that size, and then the check digit is appended to the end of the field. Check digit examples:
In these fields, choose the lowest number that avoids ambiguity by looking at your highest community ID. For example, if your highest community ID is 50000, then use 5 and 5. If your highest community ID is 200000, then use 6 and 6. Remember to allow room for growth. You also need to tell the bank how long your BPAY ID is. If you have chosen 5 and 5, you can see from the example above that the BPAY ID will be either 6 or 11 digits long, including the check digit. If your highest community ID exceeds 100000, your BPAY ID is either 6, 7, 11 or 12 digits long. |
Ageing Measurement | Use the ageing measurement to determine how debtor outstanding charges age. This can be either months or days. You then enter the gaps in the period fields at the bottom of the screen. |
Ageing Method | Select the way you want to handle the ageing of debts. See How debts age in the Debtors manual. |
Debtor Periods | Specify the cut-off for the length of time each group of debts has been outstanding. For example, you choose 30 days, 60 days, 90 days and 120+ days as your ageing periods. |
Transfer Debtor Balances TO Database / Transfer Fee Code | When transferring debtor balances from one financial database (entity), define the default:
This is used when transferring debtor balances. See Transferring debtor balances in the Debtors manual. |