NorthScope 2019.08.09

Owned by Emma Greenwood
Last updated: Aug 27, 2019
3 min read

(Software Version: 2019.08.02 Database Version: 2019.08.09)

Release Date: August 09, 2019


New Features

Fisherman Accounting

Feature Spotlight! NS-4781 New feature to automate interest charges to Fisherman Loans

A new feature has been added to calculate and process interest charges on Fisherman loan balances. Users can calculate interest on an annual or monthly interest rate, for one or more (Fisherman related) Account Classes. When processed, a single Interest Charge Adjustment transaction will be created containing each Fishing Account that is receiving an Interest Charge.

To use this new feature the following setup is needed:

  1. Ensure that all included loan accounts have an assigned Interest Revenue GL Account. This can be done in several ways including:
    1. Configure the “Finance Charges” GL Account on the Fisherman Class(es) and roll them down to the individual Fisherman Accounts. Fisherman Accounting > Configuration > Fisherman Class.
    2. Configure the “Finance Charges” GL Account on each specific Fisherman Account. Fisherman Accounting > Setup > Fisherman & Tenders or Loans.
    3. Configure the “Interest Revenue GL Account” Preference. Fisherman Accounting > Configuration > Preferences.
  2. Configure the default Adjustment Transaction Class to be used for the Interest Charge transaction. Fisherman Accounting > Configuration > Preferences > Transaction Class for Interest Charge Transactions.
  3. Optional: Add a new Adjustment Transaction Class to be used for Interest Charge transactions. This will require assistance from NLP Support.
  4. Optional: Configure the ‘Excluded Transactions’ for the Fisherman Classes and/or individual Loan/Fisherman Accounts. This will ensure that only Fishing Accounts you intend can be charged interest.

After the setup is complete, to process interest charges:

  1. Go to Fisherman Accounting > Fisherman Balances, click the “More Actions” icon and select the “Process Interest Charges” option.
  2. Select the Transaction Class – this should default from your preference.
  3. Select the Account Class(es) you wish to include.
  4. Specify the Interest Rate and identify if it’s an Annual or Monthly rate.
  5. Specify the “Beg. Balance as of” date. This is the date that beginning balances will be calculated for.
  6. Optional: Specify the “Less Payments Received thru” date. This is the grace date that payments received through will be deducted. Leave blank if you do not give a grace date.
  7. Specify the “Interest Transaction Date”. This is the date that the Interest Charges will be posted to the General Ledger.
  8. Click the “Refresh Data” icon in the header toolbar. This will populate the grid will all eligible fishing accounts based on your setup. This will include all active fishing accounts for the selected Account Class(es) that are open to the interest transaction.
  9. Edit any interest amounts if necessary.
  10. Click the “Validate” icon in the header toolbar. This will test to ensure a transaction can be posted.
  11. Click the “Process” icon in the header toolbar. This will create the Interest Charge transaction for all selected accounts that have an amount in the “Interest Amount” column. The transaction is automatically posted unless there are required attributes setup for the Adjustment Transaction Class, in which case the transaction is created with a Status of “New”. These transactions will not be able to be approved or posted until the required attribute value(s) are entered. Once posted, the fisherman balances are updated accordingly.

The grid contains the following columns:

  • Account – Fishing Account Name (ID)
  • Account Class – The Account Class assigned to the Fishing Account.
  • Beginning Balance – The balance at the beginning of the “Beg. Balance as of” date.
  • Less Payments Received – The total payments received between the “Beg. Balance as of” date and the “Less Payments Received thru” date.
  • Net Balance – Beginning Balance minus the Less Payments Received.
  • Calculated Interest – The system calculated interest amount
  • Interest Amount – The amount the interest charge will be for. If a user has edited the Calculated Interest it will be displayed here, otherwise it is the Calculated Interest amount.
  • Finance Charge GL Account – The GL Account that will be used on the Interest Transaction for each Fishing Account.

These transactions can be run as often as needed and there is no warning if a user processes them multiple times for the same dates.

Improvements

Sales

NS-4896 Added a new option to the “Build Batches By” preference for Sales Order Integration to Dynamics GP

A new option has been added to the “Build Batches By” Sales preference called “Order Doc ID and Status” to be used in NorthScope systems that integrate Sales Orders to Dynamics GP. When selected, Sales Orders that integrate to Dynamics GP will create unique Batch ID’s for each combination of Order Document ID (Sales Order Transaction Class ID) and Status.  We also updated the “Doc ID, Order Type and Status” preference option to display “Inv. Doc ID, Order Type and Status".

Technical Changes

Please view cumulative schema changes here.