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Using TurboCASH

 







OPEN ITEM PROCESSING
OPEN ITEM DEBTOR ACCOUNTS
  
The Open Item Link facility allows you to link receipts, credit notes and other credit transactions to invoices and to edit the links for your open item debtor 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 Debtor 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, but if you are going to charge interest on overdue Debtor Accounts, the calculations are based on more accurate ageing.

  2. If you have a large number of transactions for a debtor and you wish to reconcile each payment received with individual invoices or debit 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 credit transactions to debit transactions:
  1. Processing Batches - When a transaction (Sales returns or credit notes or other credit transactions) is entered in any batch type (Sales or sales returns or debtor allowances batch, receipts batch, general journal, etc.)

     

  2. Processing Documents - When a credit note document is posted or updated to the ledger
The open item link feature allows you various processing options to edit a links. The Debtor 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.
Select a Debtor account and all the transactions for the selected Debtor 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 Debtor 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 Debtor Statements. Select a Debtor account on the Debtors search facility. The name or description of the selected Debtor account. Sales invoice or other reference number entered in batches or journals or the Invoice or POS Invoice number. Date of the transaction. Description or details of the debit transaction. If an Invoice or POS Invoice was updated to the ledger, the Document type (Invoice) 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 (Sales Journal, etc.) and in documents (Invoices and POS Invoices). All the credit transactions posted in batches (Receipts Journal, Sales Journal (returns), etc.) and documents (Credit Notes). Deposit or other reference number entered in batches or journals or the credit note number. Date of the transaction. Description or details of the credit transaction. If a Credit note was updated to the ledger, the Document type (Credit Note) 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 (invoices - 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 (credit notes - 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 Debtor 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).