The debt tracking and closure transactions of the AR/AP are recorded on the Sales Invoices window. The Debt Tracking window is an option listing the Debit and Credit transactions of an AR/AP by due dates, and allowing the debt closing and undo process transactions to be performed.
Debt Tracking Window
The Debit and Credit transactions of each AR/AP performed in local currency and transaction currency are tracked on the debt tracking window. The debit tracking window can be set to open automatically when the transaction is completed, allowing the closing operations to be performed. To do so, the Debt Closing Window filter of the Finance Parameters option located in the Definitions menu of the Administration section is used. The operations requested to be opened in the debt tracking window when the slip is recorded are selected.
The AR/AP transactions are listed in the Debt Tracking window with the following columns:
- Transaction Date
- Date
- Slip Number
- Transaction
- Debit
- Credit
- Remaining
- Document Number
- Trading Group
- Rem. Level
All invoice types are processed in the debt tracking operation except for Proforma Invoices. If a payment plan is linked to the invoice bottom or the transaction in the line, the invoice is displayed in the debt tracking window in as many pieces as the number of payments. The Date column displays the Payment Date calculated for each payment. The invoices not linked to the payment plan are listed as a single line in the debt tracking window. The invoices are displayed as outstanding transactions in the debt tracking window.
The transaction lines totally or partially closed with payment are listed as connected to each other with a link. In this way, it can be understood which transaction is closed by which payment or collection, and Closed and Remaining Amount can be tracked.
Filter option located in the right mouse button menu is used to search for and display the requested records in the debt tracking window.
The filter options are:
Filter |
Value | |
Date of Transaction | Start / End |
Due Date | Start / End |
Division | Defined divisions |
Department | Defined departments |
Transaction Currency Type | Currency options |
Closed Transactions | List / Do Not List |
Trading Group | Group / Range |
Invoice Types | Invoice types |
AR/AP Transaction Types | AR/AP Transactions |
Check/P.Note Transaction Types | Check/P.Note Transactions |
Bank Transaction Types | Bank Transactions |
Safe Deposit Transaction Types | Safe Deposit Transaction Types |
Order Types | Sales Orders / Purchase Orders |
Transaction Total | Total range |
Posting Status | Posted to G/L / Not Posted to G/L |
Anchor
Anchor _Toc154909547 _Toc154909547 Anchor _Toc154910169 _Toc154910169 Anchor _Toc154911167 _Toc154911167 Anchor _Toc154911450 _Toc154911450 Anchor _Toc154911732 _Toc154911732 Anchor _Toc154912015 _Toc154912015 Anchor _Toc154913876 _Toc154913876 Anchor _Toc154914157 _Toc154914157 CloseAnchor _Toc154909548 _Toc154909548 Anchor _Toc154910170 _Toc154910170 Anchor _Toc154911168 _Toc154911168 Anchor _Toc154911451 _Toc154911451 Anchor _Toc154911733 _Toc154911733 Anchor _Toc154912016 _Toc154912016 Anchor _Toc154913877 _Toc154913877 Anchor _Toc154914158 _Toc154914158 - FIFO Close
Anchor _Toc154909549 _Toc154909549 Anchor _Toc154910171 _Toc154910171 Anchor _Toc154911169 _Toc154911169 Anchor _Toc154911452 _Toc154911452 Anchor _Toc154911734 _Toc154911734 Anchor _Toc154912017 _Toc154912017 Anchor _Toc154913878 _Toc154913878 Anchor _Toc154914159 _Toc154914159 Automatic Close
When Close is selected the transactions are linked and closed by the user.
When FIFO Close is selected, the transaction with the earliest due date among the transactions with reverse balance that have not been used in other closing operations is used for the closing operation.
When Automatic Close is selected, all the transactions displayed in the window are closed according to the FIFO method. In other words, the debit and credit transactions sorted by due date close each other according to this order. If the transactions are not wholly closed after the closing operation, the closed and outstanding parts are separated. Each part of the transaction separated after the closing operation is displayed as linked to the other parts.
When the cursor is on the transactions that have their Closed and Remaining fields empty, the Counter Transaction field lists the Slip Number, Date, Type and Total Amount of the closed slip. The Counter Transaction option of the debt tracking window is used to track the invoice closed by the payment or collection operation. The closing operation may be cancelled using "Undo" option.
The debt tracking window can be used to access the Transaction Number of the AR/AP, and Total Debit, Credit and Balance information by using Totals option. Totals option is used to display the number of transactions performed up-to-date and the debit, credit and balance totals resulting from these transactions.
In the LOGO application, debt closing transactions can be performed with various currency types. The exchange rate differences are calculated by processing the date of transaction or payment date. The exchange rate difference calculation and the payment tracking methods are specified on the Administration Info tab of the AR/AP.
The Debt Tracking is performed using two methods:
...
2. Transactions With Different Currencies: The transactions and payments performed with different transaction currencies can close each other.
Any payment transaction may be required to be excluded from the debt tracking of the AR/AP. In such cases, Out of Track option located in the right mouse button menu of the debt tracking window is used. In this way, the balance can be changed in the debt closing window without changing the invoice record. The AR/AP to which the payment transaction is linked, and the closing information are listed. No data can be entered into Amount Out Of Track field of the G/L Account To Be Out Of Track window.