Accounting Adjustments
| TrackAbout Feature | |
|---|---|
| Feature Name: | Accounting Adjustments |
| In Module: | Core Tracking |
| Short Description | Customer balances are determined by asset deliveries and returns. However, there are instances in which balances need to be modified outside of those transactions to ensure balances are accurate. These scenarios result in Accounting Adjustments. |
| Available In: | TAMobile 5, TAMobile 6 Desktop, TAMobile 6 Rugged, TAMobile Android |
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Overview
In the simplest terms, Customer balances are determined by asset deliveries and returns. However, there are instances in which balances need to be modified outside of those transactions to ensure balances are accurate. These scenarios result in Accounting Adjustments.
As a general rule, any non-delivery location-setting action that removes an asset from a customer's balance and brings it back in-house to an internal location will create an accounting adjustment.
In addition to creating an Accounting Adjustment record in TrackAbout, in most cases, an integration message can be generated to pass the adjustment to the accounting system. Passing adjustment information to the accounting system helps ensure TrackAbout and the accounting system stay in sync. Speak to your TrackAbout Support team for more information about Integration options.
Kinds of Accounting Adjustments
There are several scenarios in which Accounting Adjustments are created:
- Unexpected Transfers – In the event an asset was delivered to Customer 1 but returned from Customer 2, and those customers are set to be billed separately, TrackAbout will create an Accounting Adjustment to decrease Customer 1’s balance, and Customer 2 will not be credited for returning an asset that wasn't delivered to them. NOTE: If those two accounts bill together (whether siblings which both bill with parent, or parent/child for which the child bills with parent) there will not be an Accounting Adjustment. In this case, all the balances are rolled up to the the parent, so it doesn't matter which of the related accounts returned the asset. If using integration, then whether or not the customers bill together should be based on how they're set up in the accounting system.
- Customer Audits – Once a customer audit is reconciled, accounting adjustments will be created if TrackAbout needs to modify customer balances based on what was found (or not found) during the audit.
- Physical Inventory – In the case where reconciling a Physical Inventory brings assets back In-House that were previously thought to be on customer balances, TrackAbout will create accounting adjustments. In addition, TrackAbout will send integration messages for those adjustments to remove assets from customer balances.
- Discovery Period Adjustments - Overtime, Not Scanned balances may accumulate and languish on customer accounts if they are not manually addressed by the client, TA Support intervention, or after a customer audit. Now, we have a tool to do this automatically. Discovery Period allows clients to give their customers the benefit of the doubt when returning cylinders, but doesn't allow their balances to go down if the cylinder isn't later identified as one of theirs.
- Payer Logic Adjustments – Payer Logic allows clients to apply returns from a Department that would normally result in no credit to another Department from the same parent, so the balance from the parent account’s perspective is correct.
- Return Credit Given to Related Holder – This record is associated with the original delivery record, pointing to the related customer which got credit.
- Return Credit Accounting Adjustment – This record is created for the related customer and will have the returned unique asset attached to it. This will result in having a DNS consumed from the related customer.