This would have been run when the Upgrade to Version 5.3 was done. However, it needs to be run again after changing the Installation parameter as there will be two extra sections in the Financial Transaction Upgrade that have not been run as yet.
WARNING: Those libraries using Double-Entry accounting in the Amlib client may have to reconcile irregular financial transactions as part of this update. This can be a time-consuming process. Please plan accordingly.
You may then proceed as follows:
The Check and Create Payment Links client enables the user to create links between unlinked financial transactions, it also has the ability to update the Borrowing Owing balances where these are out of alignment.
IMPORTANT: PLEASE READ THIS SECTION CAREFULLY BEFORE PROCEEDING!
Across the top of the screen you will see the following fields:
The table below this heading will contain a complete list of the Borrower transactions (not just the ones requiring attention):
The client will list each Borrower in succession and the user will have to assess the data being presented and make the necessary adjustments. For the most part, this simply requires the Borrower Owing balances to be readjusted (something that can be done with a simple button click). Other transactions may require linking, whilst some may be missing matching transactions altogether.
Please Note: It is possible to remove transactions that are already linked from the table by simply clicking on the Remove Linked from list button at the bottom of your screen. Use the Restore All to List button to show all transactions again.
The following scenarios present various issues and how to resolve them.
In the following example, you will notice the following:
There is a clear imbalance between the Amounts Owing (they are listed in RED). However, you will note that the Update Borrower Owing button at the bottom of the screen is active – this means that the client can automatically adjust these balances:
Adjustments to this Borrower record are now complete – if there are additional Borrower records to be adjusted, then the next one will then display.
In the following example, you will notice the following:
The Amounts Owing are in balance (they are listed in BLACK). However, the Amt unlinked is 4.00. You will also note that both the Update Borrower Owing and OK buttons at the bottom of the screen are inactive. A closer examination of the table shows that there are 2 items containing amounts in the OutstandingAmounts column (of 2.00 and -2.00) totaling 4.00:
There appears to be a clear relationship between the transactions (as they are both showing amounts of the same value) and all that is required is for the user to create a link between the two transactions:
Adjustments to this Borrower record are now complete – if there are additional Borrower records to be adjusted, then the next one will then display.
Whilst Scenario 2 above showed only 2 transactions being linked, the same method can be used to link multiple items (1 credit transaction with multiple debit transactions and vice versa), as shown in the following example:
There is a clear relationship between the 3 unlinked items – as evidenced by the total of the amounts (this is further supported by the CR and DR values in the CreditOrDebit column)
Adjustments to this Borrower record are now complete – if there are additional Borrower records to be adjusted, then the next one will then display.
Occasionally, a relationship between two or more transactions will be detected but the amounts will not match (perhaps because only partial payment has been made), as shown in the following example:
There is a clear relationship between these 2 unlinked transactions – as evidenced by the Comments: GSWT # 10% = 8.85
Adjustments to this Borrower record are now complete – if there are additional Borrower records to be adjusted, then the next one will then display.
In the following example, you will notice the following:
The Amounts Owing are in balance (they are listed in BLACK). However, the Amt unlinked is 17.60. You will also note that both the Update Borrower Owing and OK buttons at the bottom of the screen are inactive. A closer examination of the table shows that there is only 1 item containing an amount in the OutstandingAmounts column if 17.60:
Since there are no other transactions with which this item can be linked, the user is required to create a balancing transaction line:
Adjustments to this Borrower record are now complete – if there are additional Borrower records to be adjusted, then the next one will then display.
If there are no more Borrower records to update, the following prompt will appear: Processing completed