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Debtors

In order to manage your sales well, you have to register your Customers (Debtors) details so that you can be able to issue invoices to them, record their payments and get several reports about their statuses at any given time. All the debtors should be linked to GL accounts where their transactions will be posted.

How to Register Debtors

To register your debtors you go to Accounts->Purchases and Sale->Debtors and a screen like the one below shows up:  

• Branch:Select from the drop down the code of a branch of your organization, e.g., "KA". This code is not modifiable and is assigned to the organization at Licensing. Unless you have a Corporate License your choice will be limited to only one branch code. 
• Debtor's ID: The program automatically assigns a new Debtor's ID to every new debtor, e.g., "00001". It is a unique five-digit code and can not be used for any other debtors.
• GL account: All debtors should be linked to GL accounts where the transactions with the debtor will be posted. From the drop down list select the relevant GL, e.g., "125030". This should have been created in your Chart of Accounts and if not, you can create it by clicking on the three ellipsis buttons to define it in the Chart of Accounts.
• Name (compulsory field):This is a compulsory field and must be filled with the debtors name, e.g., "H & L Investments".
• Debtor exists? : When entering a new debtor, you can always check if the same debtor or a debtor with similar characteristics already exists in your database.   
• Retrieve:If you want to modify a debtors registration data click on this button to find the debtor and to display the debtors information. You can then make the necessary changes and click on the Save button to complete the modification.
• Physical address: Enter the Location/Physical address of a debtor, e.g., "23655 Kingstone Rd".
• Tel 1/ Tel 2/Fax: Enter the Telephone/Fax contacts of the debtor.
• Contact person: A name of the person that should be contacted for the debtors, e.g., "Kamir Shar".
• Debtors Analysis 1, 2 or 3: You might want to classify your debtors as belonging to different categories (e.g. local and foreign) so that later on you will analyze the performance of each category. Select the relevant categories from the drop down list. Note that the categories should have been defined under Support Files->Debtors and Creditors Analysis codes and if not defined you can click on the adjacent ellipsis buttons to define them from this window.

You can view the report on the invoices issued to your clients at Accounts->Purchases and Sales->Debtors Reports->Debtors Invoices.

Click on the Save button to save debtor's data.

Related Topics

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