Processing customer debit orders

Setting up the customer accounts for debit orders

Fincon Accounting has the function to process debit orders, making it easier to process transactions for customers that have recurring billing, but in order for this to happen the customer account needs to be set up as a debit order customer.

Watch this video to see how to set up customer accounts for debit orders or follow the steps below it.

You can do this by doing the following:

  1. Navigate to Debtors / Account Maintenance.
  2. Enter (or select) the appropriate customer account number in the Account text box.
  3. Click on the Financial Detail tab.
  4. Enter Y or M in the Debit Order text box.
  5. Click the Accept button.
You enter Y in the Debit Order text box if all of the customer's invoices will fall under a debit order or M when only monthly invoices (standard invoices or contract invoices) fall under the debit order.

You are able to assign the customer to a debit order group as well, by assigning a number between 0-99 in the Debit Order Group text box to it, which you will be able to use when processing the debit orders, thus doing it per group. This will make it easier for you when you have a big amount of customers to manage, especially when it comes to the dates of the debit orders and so on.

Creating a debit order control bank account

It is recommended, not required, to create a bank account specifically for debit orders in order to be able to stay on top of the transactions, be able to track debit orders that did not go through or see extra costs pertaining to services rendered that still need to be debited. This is visible when doing a bank reconciliation. Having a separate account for debit orders will help you to have more control. 

Watch this video to see how to create a debit order control account.

To set up a bank account do the following:

  1. Navigate to Ledger / Account Maintenance.
  2. Enter an account number in the Account text box.
  3. Check that the following message box appears: The account does not exist - do you want to create it?
  4. Click the Yes button.
  5. Enter (or select the account's group number in the Group text box.
  6. Enter a description for the account in the Description text box.
  7. Enter (or select the currency of the account in the Currency text box.
  8. Enter the required security level to use this account in the Security Level text box.
  9. Enter Y in the Active text box to keep the account active.
  10. Enter the account's alternate account number in the Alternate Account No text box, if applicable.
  11. Enter the account's alternate description in the Alternate Description text box, if applicable.
  12. Click the Accept button.

Processing customer debit orders

The debit order screen in Fincon Accounting shows the customer's account number in Fincon Accounting, the name of the customer, the amount that needs to be debited, the branch code of the customer's bank, the bank account number and the account reference. If you want all of these details to be filled in when processing a debit order, it needs to be filled in, in the Debtors / Account Maintenance window under the Financial Detail tab.

Watch this video to see how to process debit orders or follow the steps below it.

Navigate to the correct window

  1. Navigate to Debtors / Debtor Payments / Debit Orders.

Set the parameters

  1. Enter (or select) the appropriate bank account in the Bank Account text box.
  2. Enter the deposit reference in the Deposit Reference text box.
  3. Enter the deposit date in the Date text box.
  4. Select the period up to which the invoices must be included from the Invoice Period dropdown list.
  5. Enter a debit order group in the D/O Group text box, if applicable.

Generate the debit order list

  1. Click the Accept button.

Process the debit orders

You are able to edit the amount of the debit orders in the AMOUNT column before you process them.
  1. Click the Process Bank Deposit button.
  2. Check that the following message box appears: Are you sure you want to generate and deposit debit order payments?
  3. Click the Yes button.
  4. Specify the printing options and click the OK button to print the debit orders or click the Cancel button to close the window without printing.
Was this article helpful?
0 out of 0 found this helpful