Currencies Tab - Debtor Currencies

This screen enables Sell Currencies, Taxes, Revenue Account, Credit Limit, Payment Terms and Bank Account details to be set up for the agent.

Example: AGALAX - A Good Agent (Currencies tab)

Default Currency (drop-down)

The currency that is defined in the default currency field has defaulted from when the Agent was initially inserted. If the default currency needs to change, choose the new default currency here and save the changes.

Additional currencies can also be inserted to make them available for an agents bookings to be costed and invoiced in.

Insert a new currency

Make sure the currency to add is available (see the System Setup User Manual).
On the Debtors screen (Currencies tab), click the green Insert button.
On the empty Currency screen, choose a Currency from the drop-down list available and add Payment Terms (mandatory). Add information in the optional fields on this screen if known.

For example:

NOTE: Only currencies that do not already appear in the list under the Currencies tab are available in the drop-down Currency field. If all available currencies have already been chosen for this agent, then none will appear in the drop-down list.
Click OK to keep the changes and save or update the entry.
Click Exit to discard any changes.

Do not add currencies that are not likely to be used by the agent. This will only make reconciliation at the end of each accounting period more time consuming. Only currencies that the agent is going to make bookings/quotes or be invoiced in should be attached.

Currency (drop-down)

Select the Currency being added.

Default Currency (drop-down)

The currency selected as the default currency will default into this field. If a different default currency is to be used, select it from the drop-down.

Tax

Available taxes that have already been set up in Code Setup are available from the drop-down list. To attach a tax, highlight it.

Any tax which is attached in this field is only used when Non-Booking transactions are entered against the agent. This tax is not used when calculating the taxes in a booking. Booking taxes are calculated on a service-by-service basis (allowing for service items that may be non-taxable) and the tax on mark-up and commission is calculated based on the attached to the agent or the booking.

Branch / Department / Account (Drop-downs / Search)

These three fields can be used to attach a GL revenue account that all revenue generated by the Agent/Debtor can be posted to. This is only encouraged where the Debtor is not a Booking Agent—i.e., a sundry Debtor and will never be invoiced for bookings.

It is never recommended that revenue GL Accounts be attached to Booking Agent/Debtors. During bookings invoicing, the system will automatically post revenue to the GL Account set up in the INI Settings GL settings which will allow bookings revenue analysis to be made. Agent revenue analysis can be performed using the Excel Financial Analysis reporting tools, regardless of GL Revenue Account postings.

Credit Limit

A credit limit can be entered against the currency in this field. There can be different credit limits for each currency attached to the agent. If the agent does not have a credit limit, leave the field as 0.00. If a credit limit is entered, the amount of credit remaining can be seen in the Balances screen of the Agent.

The agent Credit Limit is checked when the agent is attached to a booking, and again when an invoice is issued from a booking. The INI Settings Debtors, FITs and Groups sections each have a setting for a Credit Limit Type which can be used to either:

Warn that the credit limit is exceeded.
Deny entry of the transaction/booking if the credit limit is exceeded.
Allow entry of the transaction/booking after a password has been entered.

Payment Terms

There are two fields which make up the payment terms for the agent. The first is a numeric value which is either a) a number of days or b) a date in a month depending on which setting is chosen from the drop-down list in the second field. Combined these are used to calculate the payment due date of an invoice transaction. The available options are:

Option	Description
nn days	Prior to Travel
nn days	After Travel
nn days	After Invoice
Day	In Following Month
Day	In Current Month
Day	In Month of Travel
Day	In Month After Travel

Bank Name / Bank Branch / Account Name (30 chrs each) & Account Name (60 chrs)

These fields can be used to store the Agent/Debtor bank account details. The Bank Name, Bank Branch and Bank Account fields can be output on agent messages.

NOTE: There is no functionality in NX to automatically generate payments to agents. Payments can be made to agents by issuing a negative invoice offset by a negative receipt.

Supporting Information

See also Currency Columns from within Debtors or Creditors in the appendix.