Supplier Transactions


Location... Suppliers main screen > Transactions

Section of Properties Transactions grid

  • This topic only covers items unique to supplier transactions.
    See the main transaction topic for common items.
  • Transactions seen in this grid are :-
      4 B/Fwd records.
      4 Invoices for expenditure on the landlord's property(ies).
      4 Payments made to the supplier.

  • There is a B/Fwd record at the start of each period and should be the first record in the grid.
  • It was created when the supplier was added, or has been left when the Archive process stripped off the prior period transactions.
  • Its content will be set by one of the following :-
      4 The End of Period processing. (Most common).
      4 The data entered in the Supplier Opening Balance entry screen. (Only when setting up a new system).

  • The invoice records represent one supplier invoice.
  • Each invoice may contain multiple line items for one or more properties.
  • Each line item may "pass through" a property or be charged direct to a landlord.
  • Each line on the invoice becomes a "Charge" record on the landlord's transaction grid.

  • All payments to a supplier should be made from this account and not from a landlord account.

    Adding Transactions
  • Depending upon volume you may add invoices in bulk from Suppliers menu > Invoices.
  • Or, you can add a supplier invoice from the supplier transactions grid or buttons.
  • It is intended that the system Generate Payments process is used to pay your suppliers but you can pay them manually from the or the buttons.

    Editing and Deleting Transactions
  • Past period transactions may be edited and/or deleted with the exception of presented payment transactions.
  • Editing or deleting invoices will affect both the landlord and supplier balances but have no affect on the reconciliation of the system.  See Bank Reconciliation.
  • It is best only to delete current period transactions otherwise past period reports will be wrong.
  • Where past period transactions are involved it is better to reverse them.  See Transaction Reversals.
  • Deleting a supplier payment puts the money back into the supplier's account and the system bank.

    Reversing Transactions
  • See Transaction Reversals temporarily.     XXXX     

    Clearing a Supplier Account
  • When you are no longer dealing with a supplier you should have settled their account .  If they had been overpaid you must either recover the over payment from them or put your hand into your Fees and GST or trading account.  If there is a positive balance make a payment out of the account to the supplier.
  • If you have overpaid the supplier, instead of writing a cheque from your trading account  you can transfer money from the management fee and GST accounts to the supplier's account.  Do so by creating a zero value supplier invoice, select your Unidentified Items landlord account, tick the Fee Override, enter the fee to be returned (excluding GST) as a negative value and make adequate entries in the Text and Memo fields.  This has no financial effect on the Unidentified Items account although a zero value charge record will appear.
  • If you sever relations with a supplier you should clear their account as soon as practical as it has a direct bearing on how soon the supplier account can be purged from the system.  See Purge.

    Related Topics
    Add, Change and Delete Records