The plan for what a receipt is going to settle. For each unpaid bill, and each charge head on it, it shows how much of the money goes there and what late fine or early-payment discount the customer's ladder works out. When the receipt posts, it carries out the agreed plan.
When to use it
- Money has come in against several unpaid bills, and you want to see and agree exactly which ones it clears before the receipt is posted.
- A manager wants to waive or reduce a fine, with the reason kept on record.
Before you start
- The receipt must already exist as a draft. You settle a draft receipt here; you do not key in the money.
- The fine and discount ladder should be set up for the customer and the charge head. Where there is no rule for a pair, the tenant's default ladder is used instead.
- An accountant may create a plan, regenerate it and agree it as proposed. Only a manager may override, and only a manager may reopen an agreed plan.
Where to find it
Entry > Receipt Settlement.
The fields on this screen
| Section | Field (on screen) | What to enter | Required |
|---|---|---|---|
| Settlement | Plan No | Numbered automatically when you save. | No |
| Settlement | Party | The party whose bills this plan settles. It must match the payee on the receipt you picked. | No |
| Settlement | Settle As On (BS) | Nepali (BS) date the fine and discount are worked out on. Days late are counted up to this day. | No |
| Settlement | Cash Planned | The cash this receipt brings. It clears the oldest bills first; what will not fit is held as advance. | No |
| Settlement | Fine (ladder) | What the fine ladder proposed across the whole plan. Filled in when the plan is generated. | No |
| Settlement | Discount (ladder) | What the discount ladder proposed across the whole plan. Filled in when the plan is generated. | No |
| Settlement | Fine (agreed) | The fine actually agreed, added up from the lines. Agreeing or overriding the plan sets it. | No |
| Settlement | Discount (agreed) | The discount actually agreed, added up from the lines. Agreeing or overriding the plan sets it. | No |
| Settlement | Advance (unallocated) | Cash left over once every bill in the queue is covered. It is held on the party for the next bill. | No |
| Settlement | Allocated (to bills) | What actually reached a bill. Filled in for you when the settlement runs, not typed. | No |
| Settlement | Override Reason | Why the agreed figures differ from the ladder. A manager must give one to override the plan. | No |
| Settlement | Status | Where the plan has reached: new, proposed, agreed, posted or cancelled. The buttons set it, not you. | No |
| Settlement | Remarks | Short note on why this entry was made. It shows on reports and makes the entry easy to find later. | No |
| Lines | Bill | The bill this line settles. The oldest bills are taken first. | No |
| Lines | Head | The charge head on that bill, such as Rent or Electricity. Heads settle in their set priority order. | No |
| Lines | Due | When this bill fell due. Days late are counted from here. | No |
| Lines | Days | Days between the due date and the settle-as-on date. It decides which band of the ladder applies. | No |
| Lines | Rate % | The ladder's percentage for those days late. A negative figure is an early-payment discount. | No |
| Lines | Ladder | Which fine or discount ladder was used: this customer's own, the tenant default, or none at all. | No |
| Lines | Principal | How much of this head's outstanding the cash clears. Fine and discount sit outside this figure. | No |
| Lines | Fine (ladder) | What the ladder proposed for this line, before anyone agreed to it or changed it. | No |
| Lines | Fine | The fine actually charged on this line. Only a manager may change what the ladder proposed. | No |
| Lines | Discount | The discount actually allowed on this line. It may not be more than the principal plus the fine. | No |
| Lines | Waive | Tick to drop this line's fine altogether. The tick is kept if the plan is generated again. | No |
| Lines | Amount | Cash this line takes: principal plus fine, less discount. Worked out for you at every save. | No |
| Lines | Remarks | Note for this line, such as why a fine was changed or waived. It is kept if the plan is generated again. | No |
How it works
- Start a plan and pick the draft receipt. The party, the date and the cash amount are carried across from the receipt. You may change the date the ladder is measured on.
- Generate. The lines are worked out for you. The party's oldest bills come first, and within each bill the charge heads follow their payment order, with Rent taken last. Each line shows the amount going to that head, how many days late it is, the rate applied, and the fine or discount that produced. Ladder tells you where the rate came from: a rule for this customer and head, the default, or no rule at all.
- Agree, or Override. Agree binds the plan exactly as proposed. Override is for changing or waiving a fine. It asks for a reason, which stays against the line. Regenerate re-reads the ladder when the bills underneath have moved. A waiver survives a regenerate; a fine you typed by hand does not.
- Post the receipt. It carries out the agreed plan. Each bill is settled by the amount on its line, and any money no bill can absorb is held as an advance on the party. The fine or discount is booked as its own numbered journal, rather than by changing the receipt. The plan then shows as Posted.
Reversing the receipt takes the plan back to Agreed. An advance left on the party is used up by the next bill that posts for them.
Cheques settle late on purpose. A cash receipt settles when it posts, but a cheque settles nothing until the bank clears it. Lateness is still measured from the date on the cheque, not the clearing date, so the customer is not fined for the days the bank takes.
Tips and common mistakes
- Agree refuses a plan whose bills have changed since it was generated. That refusal is a safety catch, not a fault. Regenerate and look at the lines again.
- You may change the fine, the discount, the waive tick and the remarks. The amount going against the bill itself is fixed, and the total cash agreed can never be more than the receipt.
- If every line reads default under Ladder, nobody has set up a rule per charge head, and every head is being fined at the same rate. That is the sign to look for.
- The receipt is never edited to carry a fine. Its amount stays the cash that changed hands, which keeps the customer's account in agreement with their own records.