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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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