Sage Pastel • Payment Terms, Ageing, Open Item, and Balance Forward

Sage Pastel • Payment Terms, Ageing, Open Item, and Balance Forward

Pastel Payment Terms, Ageing, Open Item, and Balance Forward

Payment Terms, Ageing, Open Item, and Balance Forward

Pastel Accounting Partner and Xpress gives you sophisticated flexibility in determining how you wish to control customers and suppliers from the point of view of receipt management. Although the discussion emphasises customers, the same principles apply in terms of managing payment of debt to your suppliers.

 

This topic should help you to understand how you can use Pastel Accounting Partner and Xpress capabilities to effectively control your customers' debt or your debt to others. However, we will use customers as an example in this topic.

 

In this topic we explain the following concepts:

 

· Payment Terms
· Ageing
· Open Item and Balance Forward Processing.

 

When you create individual customer accounts, you choose different methods of payment terms, as well as whether to use open item or balance forward processing.

You should not confuse normal payment terms with early payment terms, which are special additional discounts you can give to customers if they pay you within a specified time.

 

Payment Terms

 

Payment terms normally apply to sales on credit. You establish the period within which you expect your customer to pay you.

It is important to establish payment terms with customers because you want to know when your customer is overdue on their payment to you, so that you can chase up the outstanding amounts. You can run overdue reports to see which customers have not yet settled their accounts. From these reports you can initiate collection measures or even charge interest for late payment. Payment terms can be monthly terms or day based terms. We will look at each in turn.

 

Monthly Terms

 

These terms are based on financial periods. There are five of these terms called:

 

· Current
· 30 days
· 60 days
· 90 days
· 120 days.

 

If you offer current terms, the customer has to pay in the same month in which they are invoiced. Amounts which are unpaid and are more than one month old, are overdue. If you offer 30 day terms, the customer has to pay in the month after they are invoiced. Amounts which are unpaid and which are two or more months old are overdue, and so on.

 

Day Based Terms

 

These terms are based on days. The days are usually from the date of the invoice. For example, you can give a customer terms whereby he should pay you within seven days from the date of the invoice. If the customer does not pay you within this time frame, they are overdue.

You have to create your own day based terms, which you do in the Edit...Terms...Normal Payment Terms menu option.

You can also create a terms code which is a mixture of day based and period based, although this is not used very often. To do this, you specify that an invoice is due a specified number of days after the end of the period. If you use this kind of terms code, then the invoice due date is calculated exactly. However, overdue terms switch to being monthly terms from then on.

 

Customer Ageing

 

The status of a customer's overdue amounts are measured in the same lengths as the terms. Pastel works to a maximum of five terms. If a customer's terms are seven days from date of invoice, then their terms are:

 

· 1 - 7 days Terms
· 8 - 14 days Terms + 1
· 15 - 21 days Terms + 2
· 22 - 28 days Terms + 3
· 29 - 35 days Terms + 4

 

This breakdown of outstanding amounts is called a customer's ageing. Whatever a customer's terms are, they print on the customer's statement.

You can print various useful reports which show ageing and overdue information:

 

· The age analysis report shows the aged balances as it appears on the customer's statement
· The overdue report only shows customers whose amounts are overdue.

 

Open Item and Balance Forward

 

There are two different ways of determining the ageing, in other words, the breakdown of outstanding amounts per terms period. These are:

 

· Open Item
· Balance Forward.

 

You set this method for each customer separately.

 

Open Item

 

With this method, Pastel Accounting Partner and Xpress looks at each individual invoice for a customer, and uses the invoice date to determine whether it is due or not.

This is a very accurate method, but it does have a downside. In order for this method to work, whenever you process a payment from the customer, you have to indicate which invoices have been paid. In other words, you have to match payments to invoices. Pastel, however, gives you the option to automatically match all payments from the oldest invoices down, so this is not necessarily too onerous.

 

Balance Forward

 

With this method, Pastel Accounting Partner and Xpress does an approximation of which balances belong in which terms periods. It does this by reading the invoice and payment transactions for the terms periods, accumulating all invoice values in their terms periods, and then applying all payment values from the oldest terms period down. Whatever is left is the ageing.

This method requires no matching of payments to invoices at all.

 

Which Method Should You Use?

 

Firstly, if you need day based terms, you must use open item processing, since Pastel has to match payments to invoices in order to calculate what is due and overdue on a daily basis.

Balance forward is simpler to use, provided you do not need any more detailed matching information. You may need this matching information for uses other than payment terms.

For example, if there is a misunderstanding with a customer as to which invoices are unpaid, you can use open item processing to keep the queried invoices as unpaid until the matter is resolved. These invoices will appear on the customer's statement until they are matched with a payment or a credit note.

 

Overview of Open Item and Balance Forward Processing

Comments ( 71 )

  • Marcelle

    Ok I do understand the above, but now how do I add interest to an invoice that a customer hasn’t made payment for for 90 days now.

    • To add interest to an account that is overdue, you need to run the Overdue Customer Interest Assistant function each month.

      But you need to check that your Pastel company setup and the customer account has been setup correctly.

      A – Go to setup… Customer Control – Configuration Tab

      1.Check that the Interest Account has a GL account in it. Usually the “interest received” account.
      2.Annual % Rate – Enter the annual percentage interest rate at which the system should calculate interest. The system calculates the periodic interest rate by dividing this percentage by 12.
      3.Minimum Interest Amount – In this field, you can specify a minimum interest charge, below which the system will not create an interest transaction. This prevents the system from charging interest on small, immaterial amounts, which may irritate customers. To disable this feature, enter a value of zero. If you do so, all interest amounts, however small, will appear on the customer statements.

      B- Make sure that your customer has been set up to be charged interest.

      In Edit… Customers… Accounts… Terms tab.
      Select the ‘Interest from’ drop down menu, and choose a “month”.

      C – Each month end select the Process…Overdue Customer Interest menu option.

      To process interest calculations.

      1. The first screen of the Assistant displays. This screen allows you to make a backup. You should always backup your data files prior to allowing this function to make changes to your data files. You cannot reverse the transactions on the customer records without them appearing on the customer statement. Click the Next button when you are ready to continue.
      2.The Select a Period screen displays. This tells you when you last calculated interest, and defaults to run in the period after that. You can adjust the period if you need to. Note that the system calculates overdue balances at the period in which you are running. Once you choose a period, click the Next button to continue.
      3.The Confirm Operation screen displays. Click the Process button to perform the operation, or click the Cancel button to leave the function without processing.
      4.The system creates and updates the interest transactions for all relevant customers. If you want to identify and review these transactions easily, create an entry type (the one you used in the setup screen) to use specifically for interest processing.

      Hope this helps.

  • Lewis Sangare

    I am using open item i want to know how do i get my statement and age analysis to print only the outstanding transactions?

    • I think that what you mean is that the remittance is printing out in the same

      dates as how you allocated the payments to an invoice.
      As in, if a February payment has been allocated to an invoice in December, it show

      that invoice just above the payment. Not in date order anymore.
      Try this…Go to setup… Suppliers… put in your password
      Control… Remittance tab
      Switch on “Always print in balance forward format”
      Try print the remittance again, and see if it changes to the layout you want.
      It still remains in open item for you, but the statement prints in BF format.Hope

      this helps. Bev

  • Nicky

    On a overdue suppliers monthly terms, I would like to no, how do I correct the overdue balances if it has been paid, but never been allocated and is still showing.

    • Hi Nicky. This can only be solved by going to Process.. Match open item and allocate those payments through this screen.

      Process… Match open item
      Select the supplier in the zoom box.
      Then Choose the latest month you are in.
      A list opens up in the bigger screen, showing you all those payments still
      unallocated.
      (Click the +icon to open it up)
      And you can now click (highlight) on a payment… (notice how the mouse changes to
      a plus sign)
      go down to the invoice, and click on it.It drops that amount onto the invoice.
      This will take a bit of practise.
      its similar to a drag and drop function.
      As you watch the unallocated amount at the top of the list, (the unallocated total) gets less
      and less until there is nothing left to match.
      This is the most effective way, so that your ageing on your remittance is correct.

  • Yaseen

    Hey. How do I process a settlement discount? So, for example, the invoice value was R100,000 and payment received R90,000. What must I do to correctly capture the R10,000, so that my books are correct? Thanks! Regards.

    • Hi Yaseen
      In your cash book, use both the bank column and the discount column together on the same line. The 90K goes in the bank amount and the 10k in the discount column. So that when the open item screen opens up, it allocates the whole 100k immediately. Pastel will update the correct accounts when you update.

  • Taurai

    My customer Age Analysis for two particular clients is different from the Customer Statement Due balance. What could cause this variance? I am running Partner V14.0.7. The Customer Ledger balance and Customer Age Analysis are tying up but the Statement balance due is different. I have run data Integrity – no error were reported. Am stuck.

    • Hi. If you did a data integrity with no errors, and went through the statement and compared it to the detailed ledger, and there are no missing entries AT ALL, then you have no choice but to run a open item/balance forward conversion, so that Pastel can recalculate the customers account and give you a new total on the statement.
      I understand that some customers will have a fit when they see that their statement has only 1 line “opening balance” on it for that month, but if they owe you money and you need to collect it, then its worth the hassle.
      Pastel will start showing the invoices separately again from the day you run it…
      Don’t forget the backups before you run it, so that if you are not happy with the result, you can restore it.

      Quick Guide to correcting Open Item Out Of Balance

  • Zenzele

    Hi,

    Please assist, how does one get receipts & credit notes to be allocated to the invoice on the statement and not shown separately, I am using Pastel My Business V.3

    • Hi Zanele, For this information you need help with, I am not able to help you. I do not provide support on Pastel My Business. But I do know that the help menu in all the Pastel programmes basically contain the training manual information too.
      Or you will need to call Pastel who will provide you with a dealer who knows the programme.
      Good luck.

  • Marisa

    Hi. I was wondering if anyone could help me… I’m trying to set up a remittance advice for supplies before the payment is actually made on Pastel. I want to let the suppliers know which invoices will be paid at the end of the month well before the payment is made.
    Please help.

    • Hi Marisa.
      I understand what you want. Does the normal remittance in Pastel not work for you?
      You want to show the June invoices you are paying now in July?
      What if you sent out the remittance that you have selected for
      Period start = June xxxx
      Period end = June xxxx,
      but the Remittance date you set for the 25th July xxxx or whatever date it must show at the top of the remittance.
      This way it wont include the July current invoices you have punched into Pastel already.

      If this is not suitable for you, then you may have to invent something in Excel that you can export your suppliers to.

  • Junaid

    Hi, I am having difficulty with my customers ageing. I have it set up on Balance b/f.
    When I pass a payment it takes the payment of the older terms which is correct.
    When I pass a credit note or journal credit, the amounts are being deducted of the current balances, how do I correct this.
    Kind regards

    • Hi
      In the setup, you can change it there.

      Go to Setup… Setup Company Parameters… Formats tab
      Look for the area that asks AGE BALANCE FORWARD JOURNAL CREDITS
      The choice is either
      – From Oldest Down
      – In the period they were processed in

      Sounds like you need to change yours to “From the oldest down”
      Hope this helps.

    • Junaid

      Hi Bev,
      You a star.
      Thank you.
      Kind regards
      Junaid

  • Junaid

    Hi, sorry to be a pain, is there any way I can fix my ageing.

    Kind regards
    Junaid

    • Hi there,
      In balance forward processing there is no way to fix up ageing other then using the CHANGE… BALANCE FORWARD / OPEN ITEM CONVERSION wizard.
      To find out how to use this go to help… Pastel Help.
      In the search option type in open item balance forward
      Look in the list that the help menu brings up open item / balance forward conversions

      This will show you how to run the wizard to allow Pastel to recalculate your balances at it thinks it should be.

      please note that sometimes it doesn’t work, and that the only way for the ageing to come right is with time. As the months go on the ageing should come right as the payments go off the account.

      Bev

  • Bernice

    How do i do the month end on pastel im new with it

    • Hi Bernice. There isn’t a actual month end in Pastel, as everything is always current as soon as all your batches are updated.
      You just need to do month end procedures like send out statements to customers.
      It sounds like you will need training to complete a month end properly, and I wont be able to help you via this blog, as there’s plenty involved like checking all the payments are captured, and how to email statements out.

  • Karusha

    Hi! Please help!urgent!
    I capture the customers payment but they have amounts which have been outstanding from previous months, I just wanted to know how can I see on pastel which invoices those payments are been matched to? Please help, thanks

    • Hi Karusha. There is the method of going to Process… Match Open Item. Put in the customer account number and the latest month, and in the list it brings up you can see what invoices (or amounts left on invoices) are still sitting unmatched.
      Also go to View… Customers… Monthly/Periodic… and choose from either
      1) Invoices due report
      2) Open item History report

  • Karusha

    Is there any place on pastel which I could see invoices which are outstanding from previous month which still need to be paid?

  • Offfice

    we get discount from one supplier, how do I show the discount received. will a credit note do? I use open item

    • Hi
      You put through the payment amount on the payments side of the cash book, enter the amount you actually paid, and in the next column, the discount column put through the discount amount.
      The two amounts should add together to clear the full invoice/s amount.
      When you enter across to the open item screen it will show the two amounts have cleared the full invoice/s.
      Bev

  • Leticia

    Hi
    On the customers statement, it shows the amount paid by customers. How can i remove that, i do not want the statement to show the payments received. I only want it to show the amount due.

    • Leticia this is a selection you have made for you customer statements.
      You have selected the “Show zero Balance Accounts” – Only if current period transaction …. this means show those customers that have paid in full this month, leaving a zero balance.
      If you want to see all, then select All.
      Customer Statement Options

  • Richenda

    Hello I need some HELP please.
    Please could someone tell me how exactly to bring Opening Balances in on Pastel Partner?
    Would really appreciate the help

    • Hi Richenda.
      If you are already working in Pastel at the moment then it would be best to read up on taking on opening balances from the help section in your Pastel programme. It explains taking on Customers, Suppliers, Inventory and your Trial Balance.
      There is also the information you need from the Pastel manual, which is included in your Pastel application.
      In Pastel go to the pull down menu -> HELP… DOCUMENTATION… MANUAL (PDF). This will download the manual for you.
      Hope this helps.

  • Miss.Matthews

    Could you please assist me I am using Pastel Xpress V14 and I would like to know how can I fixed the following problem please.On my statement for a customer I have in current for example amount of R1000.00 IN CREDIT(WHICH SHOULDN’T BE THERE) and then in 90 days also an amount of R1000.00 IN CREDIT(WHICH SHOULDN’T BE THERE). How can I fixed this problem please!! I would appreciate your help . Kinfd Regards

    • Hi. I’m hoping you have the 2 x R1000 debits sitting on the ageing as well.
      If you go to Process… Reallocate Open item, you can drag those 2 credit amounts downwards and pop them onto the debits, which should clear them up.

      You first select customers and choose the customer.
      Then you choose the month you have processed up until… which is February… and hit enter…
      Then you see a list of invoices populate down the page.
      At the very top of this list should say unallocated with a + sign next to it and an amount.
      Click the plus sign to open it up.
      You should see your two credits and any other amounts you have not allocated yet.

      If you click on the first entry (in the center of the page by description), (the mouse will change to a sideways cursor) NOW hold your mouse button down, you can drag that entry to the invoice and drop it on top and let go.

      This will allow the debit to swallow the credit leaving 0.00 due.

      Go back up to the top and hold the next amount…. dragging it down the page to the next debit…
      Drop, and it will reflect 0.00 due.
      And your unallocated + sign should now show 0.00.
      When you are done, don’t forget to save.

      Good luck

  • Michelle

    Hi there
    On some of my statements I have the following problem. I capture the payment but then when I go to the statement it just shows a blank space next to the invoice. No amount. No payment date with “payment thank you”. How can I rectify it?

    • Hi Michelle
      First thing you need to do is to run the statement for 12 periods… the whole year, then check if the payment entry shows up. If it does, then it would mean it was entered into the wrong period, and is easy to fix.
      If it still does not show up, then you need to run a customer detailed ledger… also do it for 12 months to be on the safe side… and see if the entry is showing there.
      If it is not there either, this means you have a small corruption, and will need a data fix.

  • Muhammed

    Hi

    I am using Pastel Partner V 14.Why does old amounts been paid show on customers statements from 2010.How do I remove this from showing

    • Hi Muhammed.
      It just means that at that time those invoices never had payments allocated against them.

      At this point there are three solutions open to you.
      1. Go to process… Match Open Item. – This is the long and slow way to correct it.

      2. Go to Change… Open Item/Balance Forward Conversion. – Its quick, and will remove those unmatched items, but it will also remove your open item history.

      3. You need to decide if this is something you want to investigate.
      Would you rather leave the ageing alone, as these are invoices from long ago?
      Or do you really want to clean it all up?

      Any solution you choose means BACK UP. You cannot undo the process.

      If you choose to allocate,
      You would go to Process… Match Open Item… Select the Customer in the zoom box…
      Then Choose this latest month you are in now…

      A list opens up in the bigger screen in front of you, showing you payments still unallocated.
      (Click the +Unallocated (sign) icon to open it up)

      Then click (highlight) on a single unallocated payment… (notice how the mouse changes to a plus sign)
      Go down to the invoice, and click on the invoice line.
      The mouse drops that payment onto that invoice, leaving nothing due.

      This will take a bit of practice.
      Its similar to a drag and drop function.

      As you watch the unallocated amount at the top, (the unallocated total) gets less and less until there is nothing left to match.
      When you are done, you must save your work.

      Its long, and it means pulling out old remittances that tell you what invoices and payments go together.

      I leave this decision in your hands.
      Good Luck

  • Donna

    Hi – we have Pastel 14.0.7
    When I run the Customer Age Analysis I have three clients with a zero Balance, but have a debit amount in 120+days and a credit amount in Current. I have tried to Match Open Item but without success – the message I receive is “The customer you have selected has no transactions for the last four months. Please select another customer.”
    How do I fix this?

    • Hi Donna,
      If you cannot fix them that way then you need to run the open item/balance forward assistant, found under the change menu.
      Remember to make a backup before you begin. No going back afterwards.
      Remember you only want to run it one-by-one for the three clients. This will clear those accounts.
      Good luck
      Bev

  • Jacqui

    Hi
    I am using pastel V 14. in my customer invoices Due Schedule I have a list of (all the invoices still due). When I check them against “Open Match” it has already been paid?

    Please advise

    • Hi Jacqui.
      Thats a strange one. If you matched the payments to the invoices exactly, they should not show up as outstanding.
      Are they current or really old invoices? And the obvious question is if you have chosen the correct periods for the report?

      The due date comes from whatever date the person puts into the invoice screen while they are capturing. Most people don’t even notice that block, and leave it at default.
      And the default pulls through from the Edit Customer screen. Under terms tab, there is a option to choose either :
      30 days from date of invoice
      30 days from month end.
      This could be affecting your report.

      You could try unallocating something, saving it, running the report to see if that invoice pops up. If it does, its not the report, it points to incorrect matching. And that means unallocating those invoices on your report, and rematching them to a payment.
      But if you are sure that you have allocated correctly, then a call to Pastel support would be a good option for you.
      Let me know how it goes.
      Bev

  • Marie

    Hi
    I used to go to view the amounts outstanding in Pastel via the following method.
    View – customer – Detailed ledger – by customer.
    But now if i do that it gives me no amount just a blank page. Did i do something wrong. I prefered to view the customer amounts this way.

    • Hi Marie,
      Yes that is the most preferred way of looking at balances.
      Its the tick box for “ACCOUNT NAME SEQUENCE” that throws out a different result.
      If you have ticked this, but put in the actual account name it will produce an empty report.
      A – Try take the tick OUT, and do a search for the customer by account number,
      or
      B – Put the tick back in, and search for the customer by account name, not number.
      Play around with these two options, and you will see which one works.
      Bev

  • Sanna

    Good day
    Am using pastel V14 i problem with my customer account .customer paid and i receipted the money now my challenge is on the detailed ledger is appearing but on statement payment is not showing as minus .and on age analysis is showing negative and minus of the same amount and on open match items payment is not appearing please assist .

    • Hullo Sanna.
      You have a open/item file corruption.
      You will need to get your accoi.dat file fixed.
      If you have V14 and you are on a support contract (business care license), then you can contact Pastel for help.
      They will open a support case for you, so that you can upload your data them. It wont take them long to correct it.
      If you are not on support, you will need to get hold of a Pastel Support Consultant to visit your premises.
      Hope this puts you on the right direction.
      Bev

  • France Dlamini

    I’m using Pastel partner V14. The system doesn’t allow me to process customer invoices on overdue accounts,it says my access rights doesn’t allow me to continue with the process.What must I change on the settings?

    • Hi France
      This has to do with your user right access.
      You need to get a supervisor password to log into the setup… user/passwords, and go through the users access section.
      If you are the only person using Pastel, then perhaps you need to be the supervisor so that you have access to everything. if not then the person who created your user needs to sort this issue out, unless they want to do the work themselves.

  • Kineta

    Hi There
    My problem is on my pastel partner V14 my invoices on my statement added gives me a much larger amount in current than It should be.

    • If the current balance is larger in total than the amount of invoices, then an invoice may have been captured into a wrong date, but the person used the period you are using as current.
      Does this make sense?
      The period could be period 10 – October, but they used a November date on the invoice.

      Truthfully, this is a best guess scenario for me. You need to print out the detailed ledger for the customer, and the age analysis, and maybe the sales journal, and check them off against each other. It could be something simple like a credit note.

      Bev

  • Wilma Matthews

    Good day

    Can I get some advice as for I am using pastel Xpress version 14. I have noticed when I put the payments on the cash book receipt side and updated it with the correct amount owing and went and have a look on the statement and customer detailed ledger it still shows the amount owing which should not be like that as for I did match the amount correctly and when I go and have a look at match open item there is nothing to match and nothing due.Now I am not sure why this is happening and would like to know how can I correct this problem to avoid further problems. I would appreciated your help

    Kind Regards
    Wilma

    • Hi Wilma
      I can probably help you with this.
      Can you phone me rather, when there is time to chat?
      Bev

    • Wilma Matthews

      Good day Bev

      Thank you for your feedback. May I ask you if you can send me your phone number please then I can phone you regarding my problem

      Kind Regards
      Wilma

  • Good day
    Am using pastel V14, I problem with my customer account, customer paid and I receipted the money now my challenge is on the detailed ledger and customer statement. This same amount which was receipted is still appearing but on the customer statement and on age analysis . The company I work for has Open Item. Please assist.

    • Hi Theresa,
      Looking at your email address, are you not situated in Kensington?
      I’ve been out to you some years ago 😉

      Ive read your question and dont understand it, can you give me more details. Please
      Bev

  • Rina Scholtz

    Is there any way that you can only select certain customers to do an interest run on?

    • Hi Rina
      Absolutely.

      In the Overdue customer interest menu option, it will do a run on everyone BUT it will only create interest on those customers who are overdue.
      Did you first set up each customer to have interest charged on them? (Edit..customers… terms tab).
      And leave those accounts that don’t get interest as

      kr
      Bev

  • Good morning,

    A customer was charged interest due to late payment. However, they have requested the interested be reversed, and the owner of the company has agreed to it.
    How do I reverse the interest charged?
    I make use of Pastel Express.

    Thank you in advance.

    • Hi Trudie
      Sorry for this late reply.
      Interest has to be reversed in a customer journal, using the customers account, and contra the interest received account.
      Kind regards
      Bev

  • Jaenmarie

    Please assist,if you change the statement terms on the Evolution to 45 day terms. All the other programs linked to pastel evolution work only in 30,60 90 120 150 and 180 day terms.
    For instance they request me to change a client that have a written agreement of 30 days made a special arrangement in writing to pay on the 15th of following month and not in 30 days(last day of the month) automatically the system will reflect in 60 days till they settled the account on the 15th then the account terms will go back to 30 days?
    If you change this to 45 day terms and the client have a special arrangement to pay on the 16/weekend or the payment only reflects in the bank account on the 16th. When on 45 days terms they print to date statements and the system setup on 30 days and some other linked systems also run in 30 60 90 etc days this will automatically reflect then in 90 days if you take the statement to date?
    Take note they have 30 day terms requested to pay after 30 days ;account then go into 60 days but in that 60s month they made agreement to pay on the 15th , once paid they back in 30 day terms as normal. If you change the system settings to 45 days this will reflect on all the other programs or when printing statement on the date in 90 days? Please give me some clearance on this. Will it be the best to keep them on 30 day terms or change to 45 day terms?

    • Hi there Jaenmarie,
      Sorry for the late reply.
      unfortunately this site is only for Pastel Partner, and not Evolution.
      You will need to find a consultant who helps with Evo.
      Kind regards
      Bev

  • Bianca

    HI, I have changed my customers from Balance forward to open item, now on the age it shows a negative balance on 120 days and then a positive on 60 days. on the open match item, it shows a balance forward as negative where I must match it, there is nothing to match it to as I cant match to that negative balance, please assist.

    • Hi Bianca,
      When you changed from Balance forward to open item, the system will need to start building up open item entries in the background. Effectively the open item table in the background would have been empty all this time, and only now entries will start showing up in there (writing to that table)
      You are going to have to wait some months, for the entries each month to slowly disappear off the ageing at the bottom as they go past the 120 days point.

      You could also try running the balance forward / open item option again but make the total balance only have one total in current, no ageing at all on the statements.

      There is no way around this.

      Kind regards
      Bev

  • Anne Stow

    Hi I need help with Interest calulated on Pastel if I have a customer with 60day terms and interest on customer is set for 60days.

    If for argument sake the customer has an out standing balance end of month for 120535.36 that has moved over to 120days what will the interest amount be. I have tried calculating it manually but my amount is half what is on pastel?

    Thank you

    • Hi Anne,

      Did you set up interest in the setup… customer control screen…
      If you set it up as an example… 10%.

      Then you take this 10% and divide it by 12 periods. So 0.83333% per month.

      So depending on your periods, it might be 5 months of 0.83%

      Hope this helps.
      Bev

  • Biance

    Hi there Bev!
    I want to change one of my customers processing method from open item to balance forward, but the option is blocked. I’m not sure what to do now.
    Could you please help!

    Thanks in advance
    Biance

    • Hi there
      This means
      1 – you dont have supervisor access
      2 – there are open batches.
      Cant think of anything else.

      Bev

  • NATASHA

    HI,
    I AM USING PASTEL EXPRESS V14 – I HAVE A CUSTOMER WHO HAS MADE A PAYMENT, AND I HAVE PROCESSED IT UNDER RECEIPTS.
    WHEN I PRINT THE STATEMENT, IT SAYS THE CUSTOMER NOW HAS A CREDIT FOR THAT AMOUNT. WHCH IS OBVIOUSLY INCORRECT. HOW DO I REMOVE THE CREDIT?

    • Hi Natasha
      As you put the entry in, so you must reverse it.

      Are you sure you put it onto receipts side? Because that’s correct. Customers go on the receipts side.
      Perhaps you have done the entry twice… perhaps you have a credit note for that invoice already, hence the total goes into credit?

      Anyway, on the receipts side again…. same date, same reference, same description…. EXCEPT you then put a minus sign in front of the amount, and update. This will cancel that entry out on the statement.

      Now redo the entry on the correct side of the cash book.

      Bev

  • Yolandie

    Good day

    Please advice… I’m running Pastel Express V12. I have a client that is no longer one of my clients. He has over paid on his account and I have already repaid him in cash. His account is now showing a credit amount. How do I make it zero

    Kind regards

    • Hi there
      The best way to sort this out is to do a journal.
      Use the customer journal.
      If his account is in credit, then you need to post an entry to his account, as a debit. You could probably contra the income account.
      Bev

  • Sune

    Good day please help me. I accidentally charged interest on a clients account and want to remove it. How do i do it? Thank you

    • Hello Sune
      You will need to do a journal to the customers account, and contra to the interest account.
      Bev

Give a comment

Thanks, please reply using the email I have supplied.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

s2Member®