en1130030_Configuration
Settings
The following settings are available in the Finance module.
They have been already set up for you but you can change them to better adjust the system to your needs.
Fields that are updated monthly
Blocking date for end of month reconciliation
The blocking date is usually changed monthly to point to the end of the month that has just ended. The purpose of this date is to tell the system that it has entered the reconciliation period. During the reconciliation period no user, except the system administrator, can enter financial transactions dated prior to the blocking date.
This is a strategy to make sure nothing gets changed, in financial terms, in the system so that the administrator can finish the end of month financial procedures.
For example: If the blocking date is set to 31/07/2020, only the administrator will be able to enter financial transactions with dates before or equal to 31/07/2020. Transactions beyond 31/07/2020 can be entered normally by all relevant users.
Accounting closing date
The accounting closing date prevents financial transactions being created to dates prior or equal to it.
After each month end, when all financial adjustments are done and the administrator / accountant is satisfied that all end of month procedures have been completed and that the accounts are correct, one needs to be sure that no more financial transactions are created for dates prior to the month that has just been closed. This guarantees the integrity of the accounting procedures and that the accounting values and balances up to the closing date remain unchanged.
Next Direct Debit collection date
Enter the next direct debit collection date.
Fields that are updated only when the settings need to be modified
Method of payment associated to a debit/credit to the members flying account
Select one of items from the relevant list box which represents the method of payment term for debit or credit to the member’s flying account.
Method of payment associated to Direct Debit
Select one of items from the relevant list box which represents the method of payment term for payments made by Direct Debit.
Sales ledger control account for payments via Direct Debit
Click on the magnifying glass icon to be presented with a list of all nominal ledger accounts. Select the one associated to payments done via Direct Debit. You can use the search facility to quickly identify the account you want.
Sales ledger control account associated to all flying accounts
Click on the magnifying glass icon to be presented with a list of all nominal ledger accounts. Select the one associated to flying accounts. You can use the search facility to quickly identify the account you want.
Default flying account type
Select from the drop down list the account type that will be used as default when a new flying account is created.
The purpose of the account type is to allow to group apart accounts with different characteristics. Three types of accounts exist in Aerolog Cloud:
- Standard. This is the type of account for club members.
- Competition. Used for pilots (who are not necessarily club members) taking part in competitions.
- Temporary. Used for temporary membership.
Direct Debit – Organisation bank sort code
Sort code of the club’s bank. This information is used when generating Direct Debit files.
Direct Debit – Organisation bank account number
Club’s bank account number. This information is used when generating Direct Debit files.
Direct Debit code prefix
When generating a Direct Debit file, each record receives a code which is used as a collection reference in the Direct Debit system. Aerolog Cloud sets this reference as being the member’s flying account number. You can add a prefix to this reference, if you wish. The system accepts prefixes with up to 10 characters long. This prefix will be placed before all DD references in the file.
Direct Debit code prefix
When generating a Direct Debit file, each record receives a code which is used as a collection reference in the Direct Debit system. Aerolog Cloud sets this reference as being the member’s flying account number. You can add a prefix to this reference, if you wish. The system accepts prefixes with up to 10 characters long. This prefix will be concatenated to the beginning of all DD references in the file.
Direct Debit code suffix
When generating a Direct Debit file, each record receives a code which is used as a collection reference in the Direct Debit system. Aerolog Cloud sets this reference as being the member’s flying account number. You can add a suffix to this reference, if you wish. The system accepts suffixes with up to 10 characters long. This suffix will be concatenated at the end of all DD references in the file.
Direct Debit bank file name
This is the name given to the Direct Debit file. After the file is generated, it is automatically downloaded to your local computer into your download default folder.
Force login for every new operation at the Financial Dashboard
The Financial Dashboard is a function that allows you to manually enter financial transactions and to sell products in the club shop.
This is a function that is likely to be used several times a day and whose computer accessing it may some times be unattended or in a location away from the user’s desk. For security reasons, it may be appropriate to force the user to enter his/her password every time a new operation is started.
If this checkbox is selected, the system will request the user’s password before a new operation starts in the Financial Dashboard.
Use D/C to represent debit and credit balances, respectively
On the account statement the balance of the flying account, when negative, is normally represented by the minus sign ‘-‘ placed before the value.
If the balance is positive, nothing is placed before the value.
If this option is selected, positive balances are represented by the character ‘C’ (for credit) being placed before the value. If the balance is negative, the letter ‘D’ (for debit) is placed before the value.
This option applies to flying account statements, only.
Charge interest
If this option is selected, the system will charge interest on flying accounts with negative balance according to the rules defined on the Interest Charge Configuration function.
(Finance >> Infrastructure >> interest charge configuration)
The system will also take into account the indicator on the Directory (Miscellaneous tab) which says whether that member is liable to pay interest or not and the definitions of the flying account profile.
Default flying account profile
The flying account profile defines the characteristics of the account, such as debit and credit limits and whether interest charge can be applied for that profile.
Select the profile that will be used as default when a new account is created.
Apply standard format for archived account code
When a flying account is archived its code can remain the same or it can be changed so that archived accounts have differentiated codes.
If this option is unselected, the account code will not be changed when an account is archived.
If this option is selected, the system will change the code when an account is archived, by adding the current date before it in the format YYYYMMDD.
Example:
Original account code: 0001
Date of archival: 25/07/2020
Account code after archival: 20200725-0001
You can also opt to add a prefix before the modified account code.
Example:
Original account code: 0001
Date of archival: 25/07/2020
Prefix: ARC
Account code after archival: ARC-20200725-0001
Date that should be exhibited in the first line of statements
The flying account statement displays all transactions of a given period ordered by date.
The first line of the statement can show the starting balance at the beginning of the first day of the period or the end balance of the previous day of the period. The starting balance will be the same.
Prices are inclusive of tax
If your club is not tax exempt, the tax value for each product or service can be either charged in addition to the original price or be already included in the price. This has a direct effect in the tax calculation.
Use this option to tell the system how tax is charged at your club.
If your club is tax exempt, ignore this field.
Favour tax amount when odd roundings occur
It is quite common cases in which the final value of a tax calculation is not precise to two decimal places. In such cases, rounding is necessary. However, when a rounding occurs, a small fraction will be either taken or added to the final result of the calculation.
If you select this option, the system will always proceed in such a way during calculations so that the tax value never gets subtracted by these eventual fractions. The system, in this case takes the decision whether to round or truncate so that the tax value is always benefited.
If your club is tax exempt, ignore this field.
Tax code is defined on each item
Tax may be applied to different products and services differently. Some products are taxable and some may be exempt.
You can define the tax on each product or service. In such cases, the system will apply the tax code that has been specified for that item.
If your club is tax exempt, ignore this field.
Tax code is defined on ledger accounts
Tax may be applied to different products and services differently. Some products are taxable and some may be exempt.
You can define the tax applicable to a given product or service on the nominal ledger account associated to that item. This is the preferred way to define tax codes as several different products or services may be associated to the same nominal ledger account.
During calculation of tax, the system will refer to the relevant nominal ledger account to identify the tax code that should be used.
If your club is tax exempt, ignore this field.
Tax code to apply on transactions associated to a flying account
Transactions associated to flying accounts (deposits, adjustments, payments) usually are non taxable.
Select the tax code that should be used for such operations.
If your club is tax exempt, ignore this field.
Default tax code
Select the default tax code that should be used by the system when the code is not specified in the product or service nor in the nominal ledger account.
During tax calculation, the system will try to identify the tax code associated to the relevant product or service. If none is found, the system will use the default tax code.
If your club is tax exempt, ignore this field.
Standard due day for instalments
Aerolog Cloud has the functionality to allow charges for membership and contractual services to be paid by monthly instalments.
You should define in this field the day of the month on which payments are automatically taken from the member’s flying account.
Show document field on financial dashboard
You can tell the system whether the field called Document ( identification of the means used for payment, such as credit card number, bank transfer number, etc.) should be visible in the Financial Dashboard screen.
Show description complement field on financial dashboard
When an operation is done on the Financial Dashboard, a description is automatically created based on the financial event that is taking place on that operation.
You can tell the system to exhibit a complement field for the description so you can enter additional information about the operation. This complement will be part of the description and will appear in the financial reports and account statements.
Show method of payment on description for FA deposits
Select this option if you want the system to include in the description, the method of payment used for the financial operations.
If this option is selected, the method o payment is placed after the description between parenthesis.
Hold date on Financial Dashboard
The first information entered in the Financial Dashboard is the date of the financial movement that will be created.
This date can remain fixed, keeping the last date entered in the previous operation, or it can be initialised with blanks after every operation, in which case, the user is forced to enter date at the start of each new operation.
Máximum number of days allowed for dates in the future
Aerolog Cloud validates all information entered so that the data quality can be maintained as much as possible.
Most of the times, the system will not allow you to enter dates in the future when creating financial transactions, as these usually refer to events that are either currently happening or have already happened.
However, there are circumstances when you may need to enter financial transactions in advance. Putting in different words, you may sometimes need to enter today, financial movements that will take place a few days later. For example, you are going on holiday tomorrow but want to make sure that an important charge is made against a flying account next week.
The system allows you to enter financial transactions with date in the future.
Enter in this field how many days into the future the system should allow financial transactions dates to be.
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