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Learn to create System Accounts Receivable |
Back to Accounts Receivable Main Page
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Table of Contents
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Navigating to System Accounts
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MODULE CONFIGURATION > FINANCE APPLICATIONS > ACCOUNTS RECEIVABLE > SET UP BUSINESS DEFINITIONS > SYSTEM ACCOUNTS SECTION |
What are System Accounts?
System Accounts are owned by the business as opposed to Customer Accounts which are owned by customers. System Accounts can only be created via the Accounts Receivable Definitions. CRM.COM supports Suspense Accounts, a type of System Account, which can be used to temporarily hold unsuccessful payments.
Attributes Table
An * indicates a field is mandatory
Name | Description |
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| Number | An auto-generated number which uniquely identifies each Accounts Receivable |
| Contact Information | |
| Account Owner | The owner of the Accounts Receivable which defaults to the organisation's Contact Information (The contact set in Platform - General Settings) Additional information related to the Contact Information are available |
| Account Information | |
| Name* | A name for the Accounts Receivable |
| Description | A description of the Accounts Receivable |
| Type | The type of the Accounts Receivable which is (automatically) set to System type. |
| Life Cycle State | System Accounts Receivable can only be 'Active' or 'Terminated'. Terminated System Accounts cannot be used in Accounts Receivable Definitions. |
| Attachments | |
| Attachments | Attached files or URLs related to the account |
| Log Information | |
| Owned by Group* | The group that owns the Accounts Receivable which will automatically default to the group of the signed in user or will be automatically set based on the geographical area of the contact as defined in Groups |
| Shared Notes | Notes for the record. Each time the notes are amended, the user and the date are logged. |
| Privacy Level | It is a 'Read-only' field and can be changed through a dedicated action or it is automatically set by the Privacy Level Assignment Rules (PLAR) |
| Log Details | The standard set of Log Details information available in all entities |
Default System Accounts
Suspense Account
A Suspense Account is a special System Account used to temporarily hold any Financial Transactions, whose associated customer account cannot be . The Suspense Account can only be owned by the organisation Contact Information and cannot be removed as long as there are Financial Transactions allocated to it.
It is used as a repository for Financial Transactions where:
- The Accounts Receivable is invalid, i.e The actual Accounts Receivable cannot be determined at the time a Financial Transaction is created or posted
- The specified Accounts Receivable is 'Terminated'
- There is a mismatch between the specified Accounts Receivable and the owner of the account
The cases mentioned above are likely to occur from the use of bank payment import files and not the software's UI or the WEB API, where existing validations would not permit Financial Transactions with incorrect or missing Accounts Receivable to be processed.
Defining a System Account as Suspense
(As explained above) the only System Account that is default and required in CRM.COM is the Suspense account. However, you can create as many System Accounts as you see fit.
- Navigate to Accounts Receivable Definition
- Search for an existing definition and click on the Number link to go to the Data Entry Page
From the Actions Menu click on EDIT
SYSTEM ACCOUNTS
New Account
- Click on REGISTER NEW ACCOUNT to open the Accounts Receivable Data Entry page in a modal window
The Account Type will be automatically set to "System Account" - In the Account Name write "Suspense account" or any other name that you would like to give to your account
Click on SAVE to create the account and close the modal window
Existing Account
- Type the name of the account you would like to set as a Suspense Account and press Enter or click on the magnifying glass to open the "Search System Accounts" modal window
- Search for the Accounts Receivable that you would like to set as a Suspense account
Only accounts with an Account Owner set as the contact in the Platform - General settings will be loaded - Click on the account you would like to add and close the modal window
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View Understanding Accounts Receivables for business examples related to Creating and Using System Accounts |
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