Re: USEFUL FAQ

Dear Eric,

Before you continue the below.........
Not sure if you have noticed our strategy of implementation where CASH BILL = INVOICE + RECEIPT
and since money related stuff and thrown into RECEIPT, hence policy on finance charges, payment mode etc are on RECEIPT... nothing to do with INVOICE..
A receipt can be created when you receive money, in other words want to
1) Create a deposit from customer
2) Settle Documents(Customer invoices / credit memos)
3) Create cashsales

Thanks
Vincent

On 5/23/07, ERIC TENG <ericteng177@gmail.com> wrote:

Hi Vincent,

 

Just wanted to have it in black & white on some issues so that we can track them as FAQ:

 

1.       Accounting -> Card Payment Configuration, on the "Policy on Finance Charges", you have 2 options, namely , "Company Absorb Finance Charges" and "Add Surcharge to Customer", what is the effect of these settings have against Cash Bill, Invoice and Accounting treatment?

 

 

Policy on Finance Charges	Cash Bill	Invoice	Accounting Treatment	Remarks
Company Absorb Finance Charges	Finance charges are tracked in a specified Cashbook (thus in GL Code associated with Cashbook)	Finance charges are tracked in a specified Cashbook (thus in GL Code associated with Cashbook)	PLS HELP
Add Surcharge to Customer	Finance charges will appear on Cash Bill	Finance charges will appear on Cash Bill	PLS HELP

 

 

Could you please verify that above info is correct? Please also help me on the Accounting Treatment portion for both settings, thanks in advance?

 

 

Regards,

Eric Teng

 

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