Accounting in saleyards is used for the purpose of bulk billing purchasers by the agents association. This is easily set up by marking the sale type as a sale that is bulk billed and through setting up agents and purchasers as bulk.
Setting Sale Types to Bulk Billed
In Sale type maintenance you have the option to set the each sale type as bulk billed or not by simply ticking bulk bill sale. The association may choose not to bulk bill every sale type. That is they may choose to bulk bill the prime or fat sales and let the agents invoice out a store or special sale.
Setting Agents and Purchasers for Bulk Billing.
Setting up an agent or purchaser to be part of a bulk billing system is easy. When entering or editing the details in address book in the section AGENT or PURCHASER tick the bulk option. If an agent is not set up to bulk bill the system will not include any of the lots sold by the agent in its bulk invoice run but will otherwise treat the agent no differently. If the purchaser is not set as bulk the system will treat them no differently with the exception of not including this purchaser in the bulk invoice run, leaving it up to the agents to directly bill the purchaser.
Processing of the Sale.
In a bulk billing environment the processing of a sale is the same as processing in a non bulk billed environment. The difference is that the Bulk Billed invoices are available for printing after processing and the journals have been created and posted to the various ledger accounts of the purchasers.
Bulked Billed Invoice.
Bulk billed invoices are the same as an invoice produced in the office of a livestock agency except it incorporates stock from more than one agency on the document.
In a bulk billed sale as in a normal agency environment you can view the journals the system has created by going into the special features tab and clicking on show journals.
The journals show a debit to each purchaser and a credit to each of the agents that sold to that particular purchasers for the value of their vendors stock within the sale.
Deposits – a purchaser sends in their payment to the association and it is receipted by going into deposits in accounting. Choose the purchaser you are recording the deposit from. This will bring up all amounts that the purchaser owes. Enter the payment details and where possible the system will match up the journals with the amounts.
On processing the deposit run the system produces a banking deposit slip, an agent distribution report and a banking payment run to send the monies to the agents that sold to the purchasers involved in the deposit run. It will create the EFT payment file to upload to your bank as the payment run is created. (If applicable).
You are able to produce payment advices which show the agents which purchasers have paid for the sale. This should reflect figures back in the office of the agents involved when they do their own banking deposits.
In accounting reports such as the outstandings report can be used to keep track of which purchasers have paid on time, which purchasers have outstanding debts and which have a history of paying after the due date for payment of a sale.