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- Set the Purchasing Preference for “Default Account – Settlement Accrual”. This will ensure that transactions will still post if the settlement account has not been manually configured for each fisherman or tender.
- Turn on the integration for journal entries
- Set Default Cash payment checkbook (Sales Order Preferences)
- Set Default Check payment checkbook (Sales Order Preferences)
- Set Default Credit Card payment checkbook (Sales Order Preferences)
Understanding the data flow
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To record payments received from the fisherman and/or tender for the sale transaction, open the Payment Details tab. Then, enter the amount received in the Amount column corresponding to the 'Payment Type' through which the money was received - either Cash, Check, or Credit Card. In the reference field, the user has the option to enter a reference for the payment that will appear on the Cash Receipt - however, this is not required. Finally, select the checkbook to receive the payment from the Checkbook drop-down menu. Selecting the checkbook will default the Cash Account field with the cash account assigned to the checkbook. The default checkbook for each payment type can be defined in Sales Order Preferences .
Once the payment has been entered and the transaction is saved as 'Ready to Post,' an invoice for the transaction will be sent to the host system with a cash receipt attached for the entered payment amount.
Note: A payment greater than the amount on the Fisherman Sale can be recorded. The overpayment will apply as a credit to the fisherman's account.
Step 3: Finalizing the transaction in NorthScope.
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- One debit line showing the summarized amounts for the fisherman “Settlement Accrual” account. The GL Account comes from the vendor’s “Settlement Accrual” account or, if missing, defaults from the Purchasing Preference for “Default Account – Settlement Accrual” account.
- One credit line showing the summarized amounts for each unique “Sale Account” on the transaction.
Note: If a payment was recorded on the Fisherman Sale, the fisherman's 'Settlement Accrual' account will be credited for the amount of the payment and the payment's 'Cash Account' will be debited for the amount of the payment.
Journal entries for negative sales line items (Returns)
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Once the user is satisfied that all the GL Distributions are correct, the user can post the batch in the host system.
Note: Although this step is required, it does not need to be done for each transaction. Posting can be done nightly or as needed.
Step 5: Reviewing in NorthScope
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