This guide is to explain how each fisherman transaction affects the Fisherman Balances with regards to who owes whom the money and how that affects the GL.

There is a preference in Fisherman Accounting > Configuration > Preferences named “Show Credit balances on the Fisherman Balance page and aging reports as:” with the options of “Negative” or “Positive”. This preference allows users to choose how they would like fisherman balances to display.

If the preference is set to display credit balances as negative:

• 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 negatively, 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 positively, for example $100.00.

If the preference is set to display credit balances as positive:

• 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).

• Adjustment - do not participate in Void/Correct

• Balance Transfers do not participate in Void/Correct

• Cash Receipt (We only support voiding and correcting at the same time and as such we add a second version of the transaction with zero lines and then subtract the previous version, in effect reversing the previous version. The new correcting version is untied to the previous versions.)

  • Positive Previous Amount – Fisherman Owes Company (Debit the Settlement Accrual Account)

  • Negative Previous Amount – This is not allowed for cash receipts

• AP Credit Memo with Distributed Lines to the Fisherman (We only support voiding at this time and as such we add a second version of the credit memo with zero lines and then subtract the previous version, in effect reversing the previous version.)

  • Previous Version Positive Line – Fisherman Owes the Company (Credit the Settlement Accrual Account)

  • Previous Version Negative Line – Company Owes Fisherman (Debit the Settlement Accrual Account)

• Fish Ticket (These participate in corrections, reprices and voids. Corrections and Reprices are handled in the same way and we will show those first. They will be described in a positive delta change and negative delta change. Then we will show void where a second version of the ticket is made and is zeroed out, this then backs out the previous version)

  • Positive Delta Change – Company Owes Fisherman (Credit the Settlement Accrual Account)

  • Negative Delta Change – Fisherman Owes Company (Debit the Settlement Accrual Account)

  • Void with a Previous Version Positive Line – Fisherman Owes Company (Debit the Settlement Accrual Account)

  • Void with a Previous Version Negative Line – Company Owes Fisherman (Credit the Settlement Accrual Account)

• Fisherman Sales (We only support voiding and correcting at the same time and as such we add a second version of the transaction with zero lines and then subtract the previous version, in effect reversing the previous version. The new correcting version is untied to the previous versions.)

  • Previous Version Positive Line– Company Owes Fisherman (Credit the Settlement Accrual Account)

  • Previous Version Negative Line – Fisherman Owes Company (Debit the Settlement Accrual Account)

• AP Invoice with Distributed Lines to the Fisherman (We only support voiding at this time and as such we add a second version of the invoice with zero lines and then subtract the previous version, in effect reversing the previous version.)

  • Previous Version Positive Line – Company Owes Fisherman (Credit the Settlement Accrual Account)

  • Previous Version Negative Line – Fisherman Owes the Company (Debit the Settlement Accrual Account)

• Payment (Checks and ACH. These can also only be voided and they are voided in the same way the other transactions are. A second version is created with a zero amount and then the previous version is subtracted essentially backing out the previous version)

  • Positive Previous Amount – Company Owes Fisherman (Credit the Settlement Accrual Account)

  • Negative Previous Amount – This is not allowed for payments

• Tender Resale - Sale portion (We only support voiding and correcting at the same time and as such we add a second version of the transaction with zero lines and then subtract the previous version, in effect reversing the previous version. The new correcting version is untied to the previous versions.)

  • Previous Version Positive Line – Company Owes Fisherman (Credit the Fisherman’s Settlement Accrual Account)

  • Previous Version Negative Line – Fisherman Owes Company (Debit the Fisherman’s Settlement Accrual Account)

• Tender Resale – Transfer Portion (We only support voiding and correcting at the same time and as such we add a second version of the transaction with zero lines and then subtract the previous version, in effect reversing the previous version. The new correcting version is untied to the previous versions.)

  • Previous Version Positive Line – Tender Owes the Company (Debit the Tender’s Settlement Accrual Account)

  • Previous Version Positive Line – Company Owes the Fisherman (Credit the Fisherman’s Settlement Accrual Account)

  • Previous Version Negative Line – This is not allowed for Tender Resales