Summary
Learn how to set up pending transactions for advertising invoices, including payment terms and trust fund release conditions.
This article covers:
Overview
Pending transactions allow you to automate payments for advertising invoices based on specific billing conditions. This helps streamline trust fund disbursements and ensures timely payments.
Configure pending transaction settings
To enable pending transactions for advertising invoices:
- Go to: Settings > Accounting > General
- Select your Office
- Scroll to Invoice Pending Transaction Setup
- Select an Invoice Pending Transaction Option:
- On receipt of bills - Payment is triggered when a bill is processed with an actual amount
- On release of trust money - Payment is triggered when trust money is released manually or via a releasable date
- On receipt of bills or trust money is released - Payment is triggered by either condition
- Do not create pending transactions - No automatic payment is created
If you select any of the first three options, configure the transaction type.
- Select Transaction Type
- Payment - Select a destination account from general accounts set up for the listing office
- Transfer - Select a destination ledger for transferring funds within the same trust account
- Select the Destination Account (or ledger)
- Tick I want to pay tax separately (Optional)
- Click Save to apply your pending transaction configuration
If you selected ‘On receipt of bills’, a pending payment is automatically created whenever you process an advertising item in a bill with an actual amount.
If you selected ‘On release of trust money’, a pending payment is automatically created whenever you click Release Trust Money in the listing statement screen or when a Trust Funds Releasable Date is entered.
What's next?
Learn how to set up a pending transaction for a commission's invoice.