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Entering a Contact - Accounts Card

This page describes the fields on the 'Accounts' card of the Contact record. Please follow the links below for descriptions of the other cards:
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Creditor A/C
Paste Special    Account register, Nominal Ledger/System module
If a Contact is a Supplier and you want their Purchase Invoices to be posted to a particular Creditor Account, specify that Account here.

If you leave this field empty, the Creditor Account will be taken from the Supplier Category to which the Contact belongs, from the Customer Category if the Supplier Category field is empty or from the Creditor Account on the 'Creditors' card of the Account Usage P/L setting.

IBAN Code
If a Contact has an IBAN (International Bank Account Number), enter it here (including two-character country prefix). When you save the Contact record, a validation check will be carried out to ensure the prefix is valid and the number of digits is correct for the prefix.

IBAN is a standard account number format, permitting cross border payments in Europe. This information will be used when necessary by the electronic payment and payment export functions in Standard ERP.

If the Contact is a Supplier, the IBAN Code will be transferred to any MAILLINK(HW0202PURCHINV_Entering_Identifiers_Card,Purchase Invoices) and Payments (flip H) entered in their name, being given priority over the Bank Account and Bank Account 2 below.

In Finland, each Purchase Invoice carries a barcode, containing information such as the IBAN Code of the Supplier's bank account or the Supplier's bank account number, the total Invoice amount, a unique reference number and the Due Date. When entering a Purchase Invoice with a barcode to the Purchase Invoice register, you can enter or scan this barcode into the Barcode field on the 'Accounts' card. The Supplier (and all connected details such as Name, Address, Bank Account details and Payment Term), TOTAL, Reference and Due Date will be brought into the Purchase Invoice automatically. The Supplier will be found by searching the Contact register for the record with the IBAN Code or the bank account number contained in the barcode. If no Supplier with the relevant IBAN Code or bank account number is found, the other details (TOTAL, Reference and Due Date) will not be brought in from the barcode. So, if you will be using this feature, it is recommended that you keep the IBAN Codes and bank account numbers in the Contact records for your Suppliers up to date.

It will usually be the case that the IBAN Code entered here and the SWIFT code in the Bank record quoted in the Account Operator field below should both refer to the same bank.

Cost A/C
Paste Special    Account register, Nominal Ledger/System module
If a Contact is a Supplier, you can determine that a particular Cost Account (i.e. Purchase Account) will be offered as a default in the first Purchase Invoice row when you enter a new Purchase Invoice. This can be particularly useful in the cases of specialist Suppliers and of Suppliers of services such as electricity or telephone services, whose Purchase Invoices are usually debited to the same Account. If you want to set a default Cost Account for a Supplier, specify that Account here.

You must specify a Cost Account for a Supplier here if you intend to create Purchase Invoices in that Supplier's name from Purchase Orders and you are using the Consolidate Items to Supplier Cost Account or Consolidate by Items and Project options in the Purchase Invoice Settings setting. If you are using the Consolidate Items to Supplier Cost Account option, the cost of each Item on each Purchase Order will be debited to the Cost Account specified here.

Account Operator
Paste Special    Banks setting, Purchase Ledger
Enter the name of each Contact's bank or building society here. If a Contact is a Supplier, their bank information will be transferred to any Purchase Invoices ('Accounts' card) and Payments (flip H) entered in their name, facilitating payment by the transfer of funds between banks. In particular, a Supplier's Account Operator will be copied to the Bank Code field in each Purchase Invoice.

Cred. On Acc. A/C
Paste Special    Account register, Nominal Ledger/System module
If a Contact is a Supplier and you need to be able to issue Prepayments or On Account Payments to them without reference to a specific Invoice, you may want to use a special Account for such Payments. Specify that Account here, and tick the On Account check box on the 'Terms' card.

When you issue a Prepayment or On Account Payment, it will be debited to this Account. Subsequently, when you receive the Invoice and connect it to that Payment, the same Account will be credited in place of the default Creditor Account. Please refer to the On Account Payments and Prepayments page for full details about this process.

The Account that you specify here will override any such Accounts that you have specified for the Supplier Category to which the Supplier belongs or in the Account Usage P/L setting ( card).

On the sales side, it is not possible to specify a Debtor On Account A/C at Customer level. The Debtor On Account A/C will always be taken from the Customer Category or from the Account Usage S/L setting.

Bank Account
Enter each Contact's main bank account number here. If a Contact is a Supplier and providing they do not also have an IBAN Code (above), this bank account number will be transferred to any Purchase Invoices and Payments (flip H) entered in the Supplier's name, facilitating payment by the transfer of funds between banks.

If the Payment File Format you have specified in the Bank Transfer setting in the Purchase Ledger is UK - BACS and the Contact is a Supplier, then their Bank Account must consist of eight digits. When the Payment File Format is UK - BACS, the 'Banking File' export function will take bank account and sort code information from the Contact records for each Supplier, not from Payment rows.

In Finland, each Purchase Invoice carries a barcode, containing information such as the IBAN Code of the Supplier's bank account or the Supplier's bank account number, the total Invoice amount, a unique reference number and the Due Date. When entering a Purchase Invoice with a barcode to the Purchase Invoice register, you can enter or scan this barcode into the Barcode field on the 'Accounts' card. The Supplier (and all connected details such as Name, Address, Bank Account details and Payment Term), TOTAL, Reference and Due Date will be brought into the Purchase Invoice automatically. The Supplier will be found by searching the Contact register for the record with the IBAN Code or the bank account number contained in the barcode. If no Supplier with the relevant IBAN Code or bank account number is found, the other details (TOTAL, Reference and Due Date) will not be brought in from the barcode. So, if you will be using this feature, it is recommended that you keep the IBAN Codes and bank account numbers in the Contact records for your Suppliers up to date. You should also ensure bank account numbers use the correct format (six digits followed by a dash followed by eight digits).

Leave this field empty and use the Bank Account 2 field below instead in the following circumstances:

  • The Payment File Format you have specified in the Bank Transfer setting is Sweden - Handelsbanken, the Contact is a Supplier and they have a Handelsbanken account.

  • The Payment File Format is Sweden - PlusGirot, the Contact is a Supplier and they have a PlusGiro account.

  • The Payment File Format is Sweden - SE-Banken, the Contact is a Supplier and they have a Handelsbanken account.

  • The Payment File Format is Sweden - Swedbank and the, the Contact is a Supplier and they have a Swedbank account.

Sales Tags/Objects
Paste Special    Tag/Object register, Nominal Ledger/System module
Default taken from    Countries setting, System module
Used as default in    Quotations, Sales Orders, Sales Invoices
Purch. Tags/Objects
Paste Special    Tag/Object register, Nominal Ledger/System module
You can assign up to 20 Tags/Objects in each of these fields, separated by commas. You might define separate Tags/Objects to represent different departments, cost centres or product types. This provides a flexible method of analysis that can be used in Nominal Ledger reports.

If a Contact is a Customer, the Sales Tags/Objects will be used as defaults in their Sales Orders, Sales Invoices and other sales transactions. In the Nominal Ledger Transactions that are generated from Sales Invoices, these Tags/Objects will be will be assigned to the credit posting(s) to the Sales Account(s), to the Cost of Sales postings, to the debit posting to the Debtor Account (if you are using the

Tags/Objects on Debtors Account option in the Account Usage S/L setting) and to the credit posting(s) to the Output VAT Account(s) (if you are using the Tags/Objects on VAT Account option in the same setting ('VAT / Tax' card)).

If a Contact is a Supplier, the Purch. Tags/Objects will be copied to the Tags/Objects field on the 'Terms' card of each Purchase Invoice, providing you are using the Tags/Objects on Creditor Account option in the Account Usage P/L setting. In the Nominal Ledger Transaction generated from a Purchase Invoice, these Tags/Objects will be assigned to the debit posting to the Purchase Account(s) and, if you are using the Tags/Objects on Creditor Account option, to the credit posting to the Creditor Account.

When a Nominal Ledger Transaction is generated from a Goods Receipt, the Purch. Tags/Objects will be assigned to the credit posting to the Purchase Accruals Account. If you are using the Supplier Tag/Object on Stock A/C option on the 'Creditors' card of the Account Usage P/L setting, they will be assigned to the debit posting to the Stock Account as well.

If you would like Sales and/or Purchase Tag/Objects to be created automatically from and assigned to Customers and Suppliers when you save them for the first time, select the Automatically Create Sales Tags/Objects on Contacts and/or Automatically Create Purchase Tags/Objects on Contacts options in the Contact Settings setting. You can also use the 'Tags/Objects' function on the Create menu. If you need the new Tags/Objects to be assigned to Tag/Object Types, specify those Tag/Object Types in the Contact Settings setting. Tags/Objects will only be created from Customers and Suppliers, not from other types of Contact.

Bank Account 2
This field will usually only be used in Sweden for Contacts who are Suppliers. You should enter their main bank account number here and leave the Bank Account field above blank in the following circumstances:

If the Bank Account and IBAN Code above are empty, this bank account number will be transferred to any Purchase Invoices and Payments (flip H) entered in the Supplier's name, facilitating payment by the transfer of funds between banks.

If the Payment File Format is Sweden - Handelsbanken, Sweden - PlusGirot, Sweden - SE-Banken or Sweden - Swedbank, the 'Banking File' export function will export information in different formats, depending on where the Supplier you are paying holds their bank account. For example, if the Payment File Format is Sweden - PlusGirot and a Supplier has a Bank Account 2, the export format will be correct for PlusGiro accounts, but if the Supplier has a Bank Account, the export format will be correct for accounts with other banks.
This field is used by the 'Banking File' Export function. Please refer to your local HansaWorld representative for details.

Sort Code
Enter the Sort Code (branch number) of each Contact's bank here. If a Contact is a Supplier, their Sort Code will be transferred to any Purchase Invoices ('Accounts' card) and Payments (flip H) entered in the Supplier's name, facilitating payment by the transfer of funds between banks.

If the Payment File Format you have specified in the Bank Transfer setting in the Purchase Ledger is UK - BACS and the Contact is a Supplier, then the Sort Code must be made up of six digits. When the Payment File Format is UK - BACS, the 'Banking File' export function will take bank account and sort code information from the Contact records for each Supplier, not from the Payment rows.

Payment Code
Paste Special    Payment Codes setting, Purchase Ledger

This field is used in Sweden, where every payment to a beneficiary domiciled outside Sweden (in a foreign currency or in Swedish kronor) that exceeds a counter value stipulated by the National Tax Board (Riksskatteverket) must be reported to the Tax Board by the intermediary bank. Included in the report should be a Payment Code, a three digit code representing a category (i.e. export/import, services etc.).

Specify the Payment Code to be used with a particular Supplier here: this is only necessary if the company is a Supplier located outside Sweden and you will be sending banking files for cross-border payments. If the Contact is a Supplier, their Payment Code will be transferred to any Purchase Invoices ('Accounts' card) and Payments (flip H) entered in their name. From there, the Payment Code will be included in Banking File exports if you produce them using the Foreign Country Payment option and if the Payment File Format you have specified in the Bank Transfer setting in the Purchase Ledger is Sweden - Handelsbanken.

Post Receipt VAT
These options will only be visible if the VAT Law in the Company Info setting is "Croatian", "Hungarian", "Polish", "Serbian", "Slovakian" or "Slovenian".

If a Contact is a Customer, use these options if the default Book Receipt VAT option set in the Account Usage S/L setting is not to be applied to the Customer's Invoices and Receipts.

In general, you should use the Post Receipt VAT option when you need your output VAT liability to be calculated from your Receipts, not from your Invoices.

If you are in Croatia, Hungary, Serbia, Slovakia or Slovenia and you are using the Post Receipt VAT option, the Outp A/C in each VAT Code will be treated as a preliminary Output VAT Account, to be credited whenever you mark an Invoice as OK. When the Invoice is paid, the Transaction from the Receipt will include an extra VAT element in which the VAT is moved from the Outp A/C to the VAT Code's O/P A/C. The O/P A/C will therefore become the final Output VAT Account.

Moving away from the default Book Receipt VAT option requires some careful configuration. In this situation, the Outp A/C will contain two types of VAT:

  1. VAT resulting from sales to Book Receipt VAT Customers. This VAT is waiting for the Customers to pay, when it will be moved to the O/P A/C. You are not yet liable to pay this VAT to the tax authorities.

  2. VAT resultfng from sales to non-Book Receipt VAT Customers. This VAT will not be moved to the O/P A/C and so you are liable to pay this VAT to the tax authorities.

You therefore need to be able to separate the two types of VAT in the Outp A/C. You can do this as follows:

  1. Create a Tag/Object to be used with Customers who will not use the default Book Receipt VAT option, and assign this Tag/Object to those Customers (in the Sales Tag/Object field).

  2. Select the Tags/Objects on VAT Account option in the Account Usage S/L setting.

This will allow you to calculate your VAT liability from the O/P A/C and from the relevant portion of the Outp. A/C, and you will be able to adjust the definition of the VAT Report (or other report) accordingly.

If you are in Poland and you are using the Post Receipt VAT option, you should specify an Outp A/C Corr. Account for each VAT Code (on flip C). The Outp A/C Corr. Account will be treated as a preliminary Output VAT Account, to be credited whenever you mark an Invoice as OK. When the Invoice is paid, the Transaction from the Receipt will include an extra VAT element in which the VAT is moved from the Outp A/C Corr. Account to the VAT Code's Outp A/C. The Outp A/C will therefore be used as the final Output VAT Account (as it is when the Post Receipt VAT option is not being used). VAT resulting from sales to non-Book Receipt VAT Customers will be posted directly to the Outp A/C. Therefore, in Poland there will be no need to separate different types of VAT using Objects.

Post Payment VAT
These options will only be visible if the VAT Law in the Company Info setting is "Croatian", "Hungarian", "Polish", "Serbian", "Slovakian" or "Slovenian".

If a Contact is a Supplier, use these options if the default Book Payment VAT option set in the Account Usage P/L setting is not to be applied to the Supplier's Purchase Invoices and Payments.

In general, you should use the Post Payment VAT option when you need the value of the input VAT that you can reclaim to be calculated from your Payments, not from your Purchase Invoices. In this case, the Inp A/C in each VAT Code will be treated as a preliminary Input VAT Account, to be debited whenever you mark a Purchase Invoice as OK. When you pay the Purchase Invoice, the Transaction from the Payment will include an extra VAT element in which the VAT is moved from the Inp A/C to the VAT Code's I/P A/C. The I/P A/C will therefore become the final Input VAT Account.

Moving away from the default Book Payment VAT option requires some careful configuration. In this situation, the Inp A/C will contain two types of VAT:

  1. VAT resulting from purchases from Book Payment VAT Suppliers. This VAT is waiting for you to pay the Suppliers, when it will be moved to the I/P A/C. You are not yet able to reclaim this VAT from the tax authorities.

  2. VAT resulting from purchases from non-Book Payment VAT Suppliers. This VAT will not be moved to the I/P A/C and so you are able to reclaim this VAT from the tax authorities.

You therefore need to be able to separate the two types of VAT in the Inp A/C. You can do this as follows:

  1. Create a Tag/Object to be used with Suppliers who will not use the default Book Payment VAT option, and assign this Tag/Object to those Suppliers (in the Purch. Tag/Object field).

  2. Select the Tags/Objects on VAT Account option in the Account Usage P/L setting.

This will allow you to calculate how much VAT you can reclaim using the I/P A/C and from the relevant portion of the Inp. A/C, and you will be able to adjust the definition of the VAT Report (or other report) accordingly.

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The Contact register in Standard ERP:

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