In addition to a list of transactions, the debtors ledger also shows the current, forecasted and unallocated balances on the file (where appropriate). It is not a direct representation of the position on the controlled account, however, and the debtors ledger exhibits some behaviour which is unique to the scope of the file:
- All transactions relating to a bill (there may be up to 6 per bill) appear as a single line (unless the 'Show raw transactions' option has been selected).
- Debtor receipts and trust transfers have an immediate effect on the file's debtor balance (due to receipt allocation), regardless of whether they have been processed or not.
- Bills with time-dependant discounts which are no longer valid will be accompanied by an item that shows the forecasted reversal of the discount (on today's date). When a decision is made about the validity of the discount, this item will be replaced with the actual reversal transaction, or will be removed entirely.
- Records indicating the finalisation of upfront bills will be included, even though these have no effect on the debtors account.
|