Enjoy the improvements of Market Package 53

With Market Package 53 new reports are released that provide details on differences between your Aged debtor and Aged creditor lists and control accounts. Further improvements to Stock Management, Project accounting - and much more are released with this package.

Save time with control account reconciliation reports

Accountants as well as customers have frequently asked us, when completing a period/month or year end: "Why doesn’t my aged creditor and aged debtor reports balance to my control accounts ?"

This imbalance can be produced in two ways: Either by direct entries into the control accounts, and/or by changing control accounts over time (meaning that customer/supplier entries have been made to accounts that are no longer used as control accounts).

If direct entries have been made to the control accounts you can avoid this happening again by ticking the box Block direct entries, this can be found when editing the control account either from the Settings or Bookkeeping tab.

With the two new reconciliation reports – one for customer control accounts, and one for supplier control accounts – you can quickly and easily identify any differences.

The reconciliation reports give an overview of differences, broken up into direct entries on control accounts and customer/supplier entries on non-control accounts. When you click the amounts in question an entry drilldown is produced.

These reports are extremely useful when processing your Finacial Year End and will save you hours of cumbersome ‘lookup work’.
Finally: After seeing a couple of cases of users linking customer or supplier groups to profit and loss accounts, we have created a new warning that you ‘typically’ use a balance sheet account as a control account.

General improvements

VAT code will now also be listed in the 'Find entries' search function. This gives you a quick overview of the VAT associated with each entry.

An error message has been developed to alert you when deleting an account used as a supplier payment account. This is not allowed since since the supplier payment account is referenced by bank accounts.

When creating a new quotation, order or invoice a new warning has been created for barred customers or customers who have reached or surpassed their credit maximum (see figure above).

Stock Management updates

Now you can find links to produce the underlying stock supplier invoice PDF on product ledger cards.

Similar to the Bookkeeping supplier list you can find links to 'Entries on account' and 'Open entries' in the Stock supplier list. This way, you will have all the relevant features in your Stock tab and you don't have to switch to the Bookkeeping tab.

Improvement for Project Accounting

To help you to 'hide away' legacy cost types that cannot be deleted since they have already been used you can now bar and hide cost types. Similar to e.g. barred accounts and barred customers barred cost types can be shown again using the 'Show barred cost types' function.