Transactions

Transactions can be raised as either:

Charges (Debits)money being taken out of an Account

Or

Payments (Credits) (money being paid into an Account)

Transactions are listed in chronological order against each Contact on their Account tab. Each Transaction can store the following information:

Under the General Details tab

• Property - Property that Transaction is related to

• Contact - the Contact the Transaction is related to

• Bank Account - Client, Current, Deposit etc

• Due Date - the date that the Transaction is due for Payment (for Debits)

• Payment Method - link to a defined Payment Method

• Product - link to a defined Product

• Tax Rate - automatically populated based on the Product selected

• Status - Unpaid or Paid

• Amount (Gross) - the amount to be Debited / Credited

• Net - the net total amount

• VAT - amount and % tax.

• Statement Notes - free format text that will be printed on the Contacts Statement

• Notes - free format text for reference use only i.e. not printed on the Contacts Statement

• Commission - for Transactions using the Rent Due Product the commission rate to be charged to the Landlord. This is defaulted to the values held against the Property when a Tenancy is created, but can be modified if required.

Under the System Info tab

• Added By - User who added the Transaction

• Added Dated - date added

• Site /Branch - the branch that created the transaction number.

• Include on Bank Rec. -whether the transaction is to be included in the Bank Reconciliation.

• Advanced Settings - these are system dates that may only changed when advised by Acquaint support

  • Account To Show In

  • Status Date

  • Banking Date*

  • Reset Balance

How the Banking Date works

• For unpaid debits a Banking Date won't be set (date will be shown as 01/01/1900)

• For paid debits the Banking Date will be set to the Status Date

• The Banking Date is used for the Bank Account Balance report which can be produced from Management Reports

Linked Transactions

The linked tab aids with financial auditing by showing a list of the transaction that are related to a charge/payment

• Date - due date of the transactions

• Description - product description for the transaction

• Contact - the contact for whom the transaction relates to

• Debits - debit amount of the transaction

• Credits - credit amount of the transaction