Skip to end of banner
Go to start of banner

Creating and Using System Accounts

Skip to end of metadata
Go to start of metadata

You are viewing an old version of this page. View the current version.

Compare with Current View Page History

« Previous Version 7 Current »

Back to Accounts Receivable Main Page

Table of Contents

Navigating to System Accounts

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

NumberAn auto-generated number which uniquely identifies each Accounts Receivable
Contact Information
Account OwnerThe 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
DescriptionA description of the Accounts Receivable
Type

The type of the Accounts Receivable which is (automatically) set to System type.

Life Cycle StateSystem Accounts Receivable can only be 'Active' or 'Terminated'. Terminated System Accounts cannot be used in Accounts Receivable Definitions.
Attachments
AttachmentsAttached 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 NotesNotes 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 DetailsThe 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.  

  1. Navigate to Accounts Receivable Definition
  2. Search for an existing definition and click on the Number link to go to the Data Entry Page

  3. From the Actions Menu click on EDIT

    SYSTEM ACCOUNTS

    New Account

  4. 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"
  5. In the Account Name write "Suspense account" or any other name that you would like to give to your account

  6. Click on SAVE to create the account and close the modal window

    Existing Account

  7. 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
  8. 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
  9. Click on the account you would like to add and close the modal window
     
    Accounts Receivable Definition - System accounts

View Understanding Accounts Receivables for business examples related to Creating and Using System Accounts

Related Areas

Helpful Links

  • No labels