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Chapter 3. BillMax for Accountants
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Chapter 3. BillMax for Accountants

Table of Contents

BillMax Financial Transactions
BillMax Financial Reports
Transactional Reports
Interpretive Reports
Other Reports

BillMax Financial Transactions

[Important] Important

All financial calculations such as prorating and reporting are subject to bankers rounding.

The following are the financial transactions supported in BillMax:

  • Sale - a taxable or non-taxable amount for a Service or an item. If taxable, the tax is included. A Sale may include a startdate and an enddate. These dates represent the time interval for which Service is delivered. Other terms for a Sale that occur in documentation are Purchase and Charge. The term Charge is being phased out as it causes confusion when referring to a charge on a credit card.

  • Deposit Charge - A surety for equipment return or as a surety for payment against future services.

  • Payment - money (legal tender) received from the customer to pay for a Bill or a Deposit Charge.

  • Store Credit - a taxable or non-taxable credit amount for a Service or an item. If taxable, the tax is included. May be used to pay a Bill. May not be Refunded or used to pay a Deposit Charge. As a consequence, it is recommended that a Store Credit be used when writing off bad debt. A Store Credit may include a startdate and an enddate. These dates represent the time interval for which Service is delivered.

  • Refund - money (legal tender) that is returned to the customer.

  • Void - A reversal of one the preceding financial transactions. Voids may be used to correct errors such that historical reports are not affected.

  • Deposit Refund - A reversal of a Deposit Charge. A Deposit Refund releases money (legal tender) that was used to satisfy the Deposit Charge such that it may be Refunded or Allocated to another Deposit Charge or Bill. Deposit Refunds may not be Voided.

In BillMax, Financial Transactions may be automatically or manually associated with other Financial Transactions through a process called Allocating, creating one or more Allocations. The following Allocations are possible:

  • Payments may be Allocated to Sales, Deposit Charges, and Refunds.

  • Store Credits may be Allocated to Sales.

The effective date of an Allocation is the date of the youngest Financial Transaction used when creating the Allocation.

During Statement processing, Financial Transactions are flagged making them not editable or deletable. Until then, certain fields of Financial Transactions may be edited and certain Financial Transactions may be deleted. Depending on company practices, this may cause historical reports to change. Care should be taken when editing or deleting Financial Transactions.

Payments and Store Credits are Allocated to Sales, Deposit Charges and Refunds. Allocations may be changed at any time. Modifying historical Allocations will changed historical Cash based reports. Care should be taken when modifying Allocations.

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Document Revision A for BillMax 2.2.0   -   Copyright © 1997-2006 The iSpark Group, Inc.

All rights reserved. No part of this documentation may be reproduced or transmitted in any fashion without written permission by The iSpark Group, Inc. This documentation is for the sole use of licensees of the BillMax billing software created by The iSpark Group, Inc. Making the documentation available to a non-licensee of BillMax without written permission of The iSpark Group, Inc. is a violation of the use of this documentation.

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