The Source Of GL Accounts On Financial Transactions
This section lists the major financial events, their standard accounting, and the source of distribution codes used to derive the GL accounts sent to your general ledger.
| Financial event | GL Accounting | Source Of Distribution Code |
|---|---|---|
|
Create a normal financial services bill segment. Bill Segment FT Algorithm is Payoff Amt = Bill Amt / Current Amt = Amt Due |
Debit: A/R | Contract Type |
| Credit: Revenue / Taxes Payable | Rate Component | |
|
Create a bill for company usage. Bill Segment FT Algorithm is Payoff Amt = 0 / Current Amt = 0 |
Debit: Company Usage Expense | Contract Type |
| Credit: Revenue / Taxes Payable | Rate Component | |
|
Create a bill for charity. Bill Segment FT Algorithm is Payoff Amt=0 / Current Amt = Bill Amt |
N/A - charity bills have no effect in the GL | N/A |
| N/A | N/A | |
| Create a payment segment for a normal financial services contract | Debit: Cash | Bank Account on the Tender Source of the Tender Control for the Payment Segment's Tender. |
| Credit: A/R | Contract Type | |
| Create a payment segment for a charitable contribution contract | Debit: Cash | Bank Account on the Tender Source of the Tender Control for the Payment Segment's Tender. |
| Credit: Charity Payable | Contract Type | |
| Create a payment segment for auto-pay at bill completion time | Debit: Cash | Bank Account on the Tender Source on the Auto-pay Route Type of the Auto-pay Source. |
| Credit: A/R | Contract Type | |
| Canceling a payment | Debit: A/R | Contract Type |
| Credit: Cash | Bank Account specified by the user on the cancel tender page. Note that this defaults to the original tender's bank account. | |
| Create an adjustment to levy a charge | Debit: A/R | Contract Type |
| Credit: Revenue | Adjustment Type |
The bottom line is as follows:
- If a bill segment has a financial effect, the distribution code to debit comes from the distribution code on the contract type, the distribution code to credit comes from the rate component(s) used to calculate the bill segment.
- Payment segments always have a financial effect; the distribution code to debit comes from the bank account on the tender source of the tender control of the tender, the distribution code to credit comes from the contract type.
- If an adjustment has a financial effect, the distribution code to debit and credit comes from the contract type and adjustment type. If the adjustment is positive (i.e., the customer owes your organization more money), the distribution code to debit comes from the contract type; the distribution code to credit comes from the adjustment type. Vice versa if the adjustment is negative.