Understanding close off types

Close off types are used as part of Closing off sales. A close off type groups together payment methods that you want to reconcile and post to the general ledger.

Close off types

Sales can be closed off on a periodic basis, for example:

daily
monthly
by term.

A close off can also be defined to suit your organisation. For example:

EFTPOS payments
banking (cash and cheques)
internal categories (debtors, sales, and so on).

Synergetic does not schedule close offs automatically. You need to process close offs at the relevant time.

You can use the individual type to close off payments for:

debtors
general ledger account sales.

No reconciliation or cash receipts are generated when an individual close off is processed. See Sales Close Off - Individual window.

Split payments

When the sales close off contains any split payments where part of the payment is allocated to a debtor's account, Synergetic:

writes a charge for the full amount to the debtor when the daily close off is done
generates a receipt for the amount already paid (by cash, credit card, EFT or cheque).

The Debtor Maintenance - History tab will show the transaction total and the amount already paid. These amounts appear on the next debtor statement.

Close off types are maintained by business unit in Synergetic Financial Configuration - Business Units - Sale Payments sub-tab in the System maintenance manual.

Last modified: 29/09/2014 12:38:38 PM