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Using TurboCASH

 







OPEN ITEM PROCESSING
OPEN ITEM CREDITOR ACCOUNTS
  
The Open Item Link facility allows you to link payments, credit notes received from creditors, and other debit transactions to purchases (invoices received from creditors) and to edit the links for your open item creditor accounts. Open-item linking relates debit transactions posted to an account to credit transactions which are posted to the same account. TurboCASH stores two amounts for transactions to open-item accounts, the amount of the transaction as well as an "outstanding amount".

If you create or edit Creditor Accounts, you need to consider some of the following aspects when deciding if you should use open item or balance brought forward age type option:
  1. The Open Item age type is more accurate than Balance Brought Forward Ageing. It is a bit slower to process Open Item ageing than Balance Forward.

  2. If you have a large number of transactions for a creditor and you wish to reconcile each payment made, or other debit transactions with individual purchases or credit transactions.
Once an account is created as an open item (ageing type) account an Open Item Selection screen will be displayed on which you may link debit transactions to credit transactions:
  1. Processing Batches - When a transaction (Goods returns or credit notes received from creditors or other debit transactions) is entered in any batch type (Purchase or returns or creditor allowances batch, payments batch, general journal, etc.)

     

  2. Processing Documents - When a Goods Returned document is posted or updated to the ledger.
The open item link feature allows you various processing options to edit a links.

The Creditor Open Item Link screen:
Click on the Input - Open Item Link menu option or on the icon or speed button. You may also press the and keys or press the and and keys on your keyboard. The Debtors search facility and the Open Item Link screen will be displayed.
To select a Creditors Account, press the key or click on the Close button of the Debtors search facility to close or exit the screen.
Click on the speed button or icon. The Creditors search facility screen will be displayed. Select the creditor account. All the transactions for the selected creditor account will be displayed.

Title bar - double-click to display the screen in full size or to return to the normal size. Minimise button - click to minimise this screen. Restore button - click to display this screen to full size and click again to restore it to its original size. Close button - Click to close or exit this screen. Clear all open item links or links in a specified period for a selected Creditor account. Change all open item links or links in a specified period to Balance Brought Forward age type. View all linked transactions and to unlink or remove a link for a selected transaction. Select a Debtor account on the Debtors search facility. Select a Creditor account on the Creditors search facility. Process specific or selected links. View the open item ageing as displayed on Creditor Remittance Advises. Select a Creditor account on the Creditors search facility. The name or description of the selected Creditor account. Cheques and Purchase returns (Supplier Credit notes) or other reference number entered in batches or journals or the Stock or Goods Returned document number. Date of the transaction. Description or details of the debit transaction. If Stock or Goods Returned documents were updated to the ledger, the Document type (Stock or Goods Returned) will be displayed. The transaction amount. The outstanding amount will change to 0.00 if the linked amount is the same as the transaction amount. If not the same a difference will be displayed. Select to link the debit transaction. If not selected, the transaction is not linked. Vertical scroll bar - move up or down to view more transactions, if necessary. The total of the debit transaction amounts. The total of the debit outstanding amounts. All the debit transactions posted in batches (Purchase Journal (returns), Payments Journal, etc.) and Stock or Goods Returned documents. All the credit transactions posted in batches (Purchase Journal, etc.) and Purchase documents. Supplier Invoice or other reference number entered in batches or journals or the Purchase document number. Date of the transaction. Description or details of the credit transaction. If a Purchase document was updated to the ledger, the Document type (Purchase) will be displayed. The transaction amount. The outstanding amount will change to 0.00 if the linked amount is the same as the transaction amount. If not the same a difference will be displayed. Select to link the credit transaction. If not selected, the transaction is not linked. Vertical scroll bar - move up or down to view more transactions, if necessary. The total of the credit transaction amounts. The total of the credit outstanding amounts. The total transaction and outstanding amounts will be matched with the ledger total. Any differences for the transaction and outstanding totals.

The screen consists of 2 sections (i.e. Debit and Credit).

Debit - On the top part of this screen, all the debit transactions entered and posted in any batch type, or documents (goods returned notes - if you are generating documents from your stock item code file).

Credit - On the bottom part of this screen, all the credit transactions entered and posted in any batch type, or documents (purchases - if you are generating documents from your stock item code file).

Icon Description
This option will clear all the open item links.
This option will clear all the open item links and generate the ageing as balance brought forward account.
This option allows you to view only the linked transactions.
Click on Debtor icon and the Debtors search facility displaying all the Debtor accounts. Select the Open Item Debtor account for which you wish to edit the links.
Click on Creditor icon and the Creditors search facility displaying all the Creditor accounts. Select the Open Item Creditor account for which you wish to edit the links.
Click to enter an amount to link to a specific or selected transaction.
Click to view a the selected Creditor account in a statement layout with the ageing labels (e.g. Current, 30 Days, 60 Days, etc.)


You may click on any of the following column headings to sort the displayed debit or credit transactions:

- Sort the displayed transactions according to Reference Number - descending (from the highest reference number to the lowest reference number).

- Sort the displayed transactions according to Reference Number - ascending (from lowest reference number to highest reference number).

- Sort the displayed transactions according to transaction Date - descending (from the latest date to the earliest date).

- Sort the displayed transactions according to transaction Date - ascending (from the earliest date to the latest date).

- Sort the displayed transactions according to the transaction Amount - descending (from the highest amount to the lowest amount).

- Sort the displayed transactions according to the transaction Amount - ascending (from the lowest amount to the highest amount).