This guide explains the balance tracking of account transactions in Netvisor.
In transaction-specific balance tracking, the user can:
-Link account transactions to each other.
-Track the open balance of linked transactions.
-Mark old transactions as open to match the starting situation with the account's open balance. By default, account transactions before activation are not tracked.
Transaction balance tracking is different from account tracking targets, but they can be used simultaneously.
Activating balance tracking
Occurs account-specifically by selecting the desired account from the chart of accounts and checking the balance tracking on from the section "Use internal transaction tracking for the account".
After this, all new transactions recorded to the account are open. An open transaction can be linked either to one existing open transaction (source transaction) or multiple other open transactions can be selected for linking (target transaction or main transaction). A new transaction can also be manually marked as closed, removing it from the open list.
Marking old transactions as open
To match the starting situation of balance tracking with the account balance, old transactions can be marked as open. This is best done through the account balances report in accounting reports, where sufficient time limits are selected in the search criteria. From the desired account, drill down to the transaction view, where the edit view "mark as open" is selected.
Alternatively, new transactions targeting old, non-open transactions are manually marked as closed. Receipts that are open will be detailed in the balance sheet breakdown.
The open transaction checkmark does not disappear when transactions targeted at each other do not go to zero. The open transaction checkmark does not disappear from transactions going to zero if entries have already been made to the account and transaction targeting is activated after these entries. If a transaction made before activation is targeted at a transaction recorded after activation that brings the balance to zero, the first transaction will remain open, which must be removed by the user.
Linking transactions
The transaction linking view is accessed:
From the entry of a new receipt starting from the account statement (if the entry is made to an account under tracking), individual transaction linking is accessed. On the intermediate page, receipt transactions can also be targeted to account tracking targets if they are in use. Transaction linking is accessed by pressing the linking symbol. From the link, it is selected whether the transaction is targeted (source transaction) or other transactions targeting it are selected (target transaction).
From the link in the receipt edit mode "account tracking target setting"
Drilling down from accounting reports to account transactions, the account transaction view shows the transactions of the selected time period for the account. The transaction order can be changed by pressing the order links in the header. Primarily, a transaction of the same size is suggested for targeting. If the sorting of the view is modified, this remains as the default, and the original situation can be restored by returning the default settings from "Restore defaults."
An example of making a target from a receipt. Select "Receipt-specific actions > Account tracking target setting":
Press the transaction targeting icon:
Select which row the targeting is done by making a selection from the end of the row:
When the first arrow of transaction targeting is selected, the transaction is the targeted transaction and can be targeted to one selected transaction below:
From the second arrow, multiple transactions can be targeted to the transaction:
Unlinking
Existing linking can be undone if the rows have been previously targeted at each other. This is done using the button shown in the image, which unlinks the transaction linking:
Targeting and open balance
The column "open amount" in the view shows the open amount of the transaction group. In the example below, transactions have been targeted at each other so that the open amount of these transactions is zero. However, the account may have a balance due to entirely other receipts that have not been targeted. In the example below, the final balance is €10.00, due to other transactions.
If the total balance of transactions is 0.00, the transactions are marked as closed. This should be particularly noted for transactions spanning over the fiscal year, i.e., for example, if linked transactions are on different fiscal years, the transaction that should be open at the time of the financial statement should be manually marked as open. Open transactions of the account can also be listed in the balance sheet breakdown report of the financial statement.
If any transaction in the group is edited on the receipt (e.g., amount), it or its target transaction returns to open. For example, if the targeted receipt is updated with accounting, this will undo the transaction targeting in the background. Targeting is undone in the following situations:
-The amount of the targeted transaction is changed
-The accounting account of the targeted transaction is changed
-The targeted receipt is voided/deleted
Keywords: Transaction linking, open balance, account balances, reporting.
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