Entering a Person Record - Accounts Card
This page describes the fields on the 'Accounts' card of the Person record. Please follow the links below for descriptions of the other cards:
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- Account
- Paste Special
Account register, Nominal Ledger/System module
- Specify here the Account that is to be used as the Person's Advances and Settlements Account. This Account will be credited with the value of the Person's expense claims (recorded in the Expense register in the Expenses module) and debited with the value of payments issued to the Person (recorded in the Personnel Payment register in the same module).
- It is recommended that you use a separate Account be used for each Person (or, if this is not possible, a separate Account - Tag/Object combination). If you do not follow this rule, the Periodic Personnel Statement report in the Expenses module may be misleading.
- Sort Code
- Enter the Sort Code (branch number) of the Person's bank here. This will be transferred to any Personnel Payments entered in their name.
- Tag/Object
- Paste Special
Tag/Object register, Nominal Ledger/System module
- The Tag/Object that you specify here will be copied to all Contracts, Invoices, Orders and Quotations in which the Person is the Salesman.
- In the Nominal Ledger Transaction generated from an Invoice, the Tag/Object representing the Salesman will be assigned to the credit posting(s) to the Sales Account(s) and, if the Invoice will update the stock valuation in the Nominal Ledger, to the Cost of Sales postings. If you are using the Tags/Objects on Debtors A/C option in the Account Usage S/L setting, the Object will also be assigned to the debit posting to the Debtor Account. Finally, if you are using Tags/Objects on VAT Account option in the same setting, they will be assigned to the credit posting(s) to the Output VAT Account(s). This allows you to analyse sales made by each Person in the Nominal Ledger. For example, if you ensure that each Person's Tag/Object belongs to the same Tag/Object Type, you can then produce an Tag/Object/Quantity Results report for that Tag/Object Type, to compare the profitability of sales made by each Person. Please refer here for more examples.
- This Tag/Object will also be assigned to the credit posting to the Person's Advances and Settlements Account from their Expense claims, and to the debit posting to the same Account from Personnel Payments. If it is not possible to use a different Advances and Settlements Account for each Person, you should at least use a separate Tag/Object for each Person. If you do not have a unique Account-Tag/Object combination for each Person, the Periodic Personnel Statement report will not be correct because it will not be able to calculate separate balances for each Person.
- You can only enter a single Tag/Object in this field for each Person. You can easily create a Tag/Object for the Person using the 'Tag/Object' function on the Create menu (Windows/macOS) or + menu (iOS/Android).
- Bank A/C
- Enter the Person's bank account number here. This will be transferred to any Personnel Payments entered in their name.
- Bank Name
- Paste Special
Banks setting, Purchase Ledger
- The name of the Person's Bank.
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The Person register in Standard ERP:
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