Bailment Accounts PPFC Processing
Purpose
During manual Bailment Account creation, charge a PPFC (Prepaid
Finance Charge) to the Dealer account based on established PPFC rules
for the selected distributor.
Access
- Bailment Dealer | Accounts Tab |
Process
When a distributor with a PPFC rule applied is selected
during the create bailment account, the PPFC field amount will be populated
with the fee to be charged.
Process
outcomes
On Create:
Two Transactions will be raised
- The net value of the transaction will be created
using the Dealer PPFC Fees Transaction
Type, as specified on the Bailment
Account Type. This will debit the Dealer Fees Account and credit the GL
Code associated with the Transaction Type
- A second transaction will also post using the
Dealer PFPC Fees Tax Transaction Type, which debits the Bailment Account and
credits the GST GL code
An Invoice will be raised
- This can be viewed from the Bailment Dealer Fees
Account Documents tab and from the Document page on the Bailment website.
Where a Dealer has Direct Debit details loaded
- A direct debit record for the PPFC fee will be
raised for payment the following month on the day specified in the Bailment
control record
Related Articles
Bailment Control Details
Purpose Provide Control Details for the Month End Rollover process Access Bailment | Edit/View Bailment Control Details Dialog Details Detail Specific Fields Field Description Month Ending Enter the date of the first Month End Open Balance The total ...Bailment Dealer Details - Accounts Tab - Suspense Account
Purpose There are two section to this tab Suspense Account All Dealer Invoice Payments are posted to the Bailment Dealer cash suspense account All cash transactions entered to this account are available to be allocated against invoices through the ...Bailment Dealer Suspense Accounts
Purpose To allow common setup details to be established that will apply to all Bailment Dealers on Setup. The detail on this dialog must be completed before any Bailment Dealer accounts may be added. On a transactional basis the Suspense Account is ...Fee Account Documents
Purpose Allows the viewing of all Fee (PPFC’s, Ad Hoc Fees and Interest/Bailment Fee) Invoices. Creating an Adhoc fee invoice occurs from this dialog. Credit Notes can be created for specific invoice types Dialog Details Detail Specific Fields Field ...Bailment Fee Rule Details
Purpose To establish the rules of a Bailment fee. The fee may be either a percentage of the total of the account or a specific amount. Access Bailment | Setup | Fee Rules | Fee Details - Bailment Account Fee Field Explanation Fee Types Bailment ...