Setting up Journal Types (JNT) - Online Allocation

The online allocation properties apply to transactions entered using this journal type that are allocated as part of the ledger entry process. They tailor the use of the allocation processing.

  1. Click the Online Allocation tab in the Journal Types (JNT) dialog.
  2. Specify this information:
    Transaction Sequence

    This is the default order in which the transactions are displayed on Account Allocations (ACA) and during online allocation. The order these unallocated transactions are presented in is significant and can help to reduce the time taken to select matching transactions. The following sequences are available:

    • Accounting Period
    • Transaction Date
    • Due Date
    • Transaction Reference
    • Base Amount - to sequence by base amount regardless of debit/credit marker
    • Transaction Amount - to sequence by transaction amount regardless of debit/credit marker.
    Input Discount Account

    This account is used for discounts generated on creditor accounts and for discounts generated on debit transactions on client accounts. You cannot select a closed account, or a memo account.

    Output Discount Account

    This account is used for discounts generated on debtor accounts and for discounts generated on credit transactions on client accounts. You cannot select a closed account, or a memo account.

    Tolerance

    The tolerance percentage to be used when calculating discounts. lf this is not specified no tolerance is allowed. This tolerance percentage determines the acceptable difference between the allowed discount percentage and the percentage discount that has been taken. If the difference falls within this tolerance percent, it is written off as additional settlement discount.

    The agreed percentage discount for an account is determined by the payment terms for invoicing the supplier or customer.

    Tolerance Amount

    This is the acceptable difference between the allowed discount amount and the amount of discount that has been taken. If the difference is below this tolerance amount, it is written off as additional settlement discount.

    Note: If both the tolerance percent and tolerance amount are entered, then both criteria must be satisfied for the tolerance to be considered. This means that a discount which is within the percentage tolerance allowed but which exceeds this amount is disallowed.
    Discount Tolerance Days

    The number of days tolerance allowed when applying discount. If the payment terms dictate that a discount is allowed if payment is received within 15 days of invoice date, the number of tolerance days you enter here will be added to the Discount Due Date to extend this period. For example, if you enter 2 days here, the discount will be allowed if the invoice is paid within 17 days of the invoice date.

  3. Save your changes.