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if a line item on a transaction results in a credit balance for the Settlement Accrual Account, the amount on the Fisherman Balances page will be displayed positively, for example $100.00.
if a line item on a transaction results in a debit balance for the Settlement Accrual Account, the amount on the Fisherman Balances page will display negatively, for example ($100.00).
Posting Transactions
The following explains whether the Settlement Accrual Account is debited or credited based upon if the line item entered on the transaction was positive or negative (if allowed).
Adjustment
Positive Line – Fisherman Owes Company (Debit the Settlement Accrual Account)
Negative Line – Company Owes Fisherman (Credit the Settlement Accrual Account)
Balance Transfer
Positive From Line – From Fisherman Owes Company (Debit the Settlement Accrual Account)
Positive To Line – Company Owes To Fisherman (Credit the Settlement Accrual Account)
Negative Line – These are not allowed for balance transfers
Cash Receipt
Positive – Company Owes Fisherman (Credit the Settlement Accrual Account)
Negative – This is not allowed for cash receipts
AP Credit Memo with Distributed Lines to the Fisherman
Positive Line – Company Owes Fisherman (credit the Settlement Accrual Account)
Negative Line – Fisherman Owes Company (debit the Settlement Accrual account)
Fish Ticket
Positive Line – Company Owes Fisherman (Credit the Settlement Accrual Account)
Negative Line – Fisherman Owes Company (Debit the Settlement Accrual Account)
Fisherman Sale
Positive Line – Fisherman Owes Company (Debit the Settlement Accrual Account)
Negative Line – Company Owes Fisherman (Credit the Settlement Accrual Account)
AP Invoice
Positive Line – Fisherman Owes company (debit the Settlement Accrual Account)
Negative Line – Company Owes Fisherman (credit the Settlement Accrual Account)
Payment (Check or ACH)
Positive – Fisherman Owes Company (Debit the Settlement Accrual Account)
Negative – This is not allowed for payments
Tender Resale - Sale portion (This also encompasses tax as the total tax amount will be dispersed evenly to each line)
Positive Line – Fisherman Owes Company (Debit the settlement accrual account)
Negative Line – Company Owes Fisherman (Credit the Settlement Accrual Account)
Tender Resale - Transfer portion
Positive Line – Company Owes Tender (Credit the Tender’s Settlement Accrual Account)
Positive Line – Fisherman Owes Company (Debit the Fisherman’s Settlement Accrual Account)
Negative Line – These are not allowed on Transfer Lines for Tender Resales
Correcting/Voiding Transactions
The following explains how the Settlement Accrual Account is debited or credited after a correction/void based upon if the original line item entered on the transaction was positive or negative(if allowed).
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