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 used to post cash to in payment of Bailment Fee and Asset Sale Invoices. These are then subjected to a cash allocation process which will offset the receipted payment. Any balance in the Suspense Account is shown as Unallocated Cash in the system.
The fees account transactions are posted from end of month fee / interest postings and also either the Ad Hoc Fee invoice creation or the addition of a PPFC Fee. These invoices are also subject to the cash allocation process.
Access
- Setup | Suspense Account Defaults
Dialog Details
Details Specific Fields
Field | Explanation |
Account Type | Select the account type |
| Interest Profile | This will be the interest profile used to apply bailment fee calculations to the Suspense and Fees Account This will normally be a zero interest rate profile so no bailment fees are charged to the Suspense or Fees Accounts |
Related Articles
Bailment Account Type Setup
Purpose To differentiate different types of Bailment Accounts Examples maybe: Related Party Non Related Party Access Account | Edit/View Account Types | | Dialog Details Asset Processing Field Explanation Asset Purchase Trans Type When a bailed asset ...Bailment Dealer Details - Main Tab
Purpose Allow the setup of standard information to allow a Bailment Dealer to operate and provide a summary of the dealer liability position Access View | Bailment Dealers | Bailment Dealer Detail tab Dialog Details There are a number of sections to ...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 Details - Rates and Fees Tab
Purpose Allow the setup of rates, over ride rate and fees to allow a Bailment Dealer to operate Access View | Bailment Dealers | Bailment Dealer Rates and Fees tab Dialog Details There are a number of sections to the Bailment Dealer Rates and Fees ...Distributor Fee Rule Details
Purpose To establish the rules of for Bailment fees The fee may be either a percentage of the gross total of the account or a specific amount Access View | Bailment Dealer | | Rates and Fees Tab | Fess Rules | Dialog Details Details Specific Fields ...