MODACC - ACCOUNTING Ó UNCTAD – SITE (V1.15) 4.14 Fig. 4. 3   Modacc: Functions: Account Management: Modify To set up a new credit account: ·     Allocate a new Account number or code; ·     Specify a validity period (system default is to start from the current date); ·     Nominate the account type - using the <spacebar>  (“1”  for ‘credit’ or “2” for ‘Pre- Payment’); ·     Insert the amount of credit (‘overdraft’ or credit limit); ·     Enter the period of deferment allowed for payments  - “Delay (days)”; ·     Insert Declarant or Company code  - <F8> for a look-up table ; and ·     Insert  in  the  information  box  any  further  description  relevant  to  the  account  (free form text). Note : When modifying an existing account, changes are limited to the amount, delay (days) and the information text box. A   delay   (number   of   days)   must   be   set   for   the   payment   of   credit   account statements. If generation of an account statement is requested, and there is no delay set, the system will show an error message. Before a declarant can use a credit account the account must be ‘activated’ and if declarations are to   be   input   using   MODBRK   a   ‘secret   code’   or   PIN   number   (Personal   Identification   Number) allocated.  These are managed through the system. It is recommended that when a credit account is created a pre-payment account is also created to allow the accountholder to continue to process declarations if the   credit   account   limit   is   exceeded.   It   also   allows   for   Customs   to   make repayment of any taxes overpaid by the declarant or company. Activating the Credit Account Accounts  are  activated  using  the  controls  within  the  Credit  account  window.  See  the  example screen above – Establishing a Credit Account. Access is through menu options  ‘Functions’, ‘Account Management’ and requires server login. The controls ‘Suspend’ and ‘Activate’ switch the status of an account. Account Secret Code For account security the account holder (declarant or company) is issued with a secret code that is used together with the account code. This helps in confirming that a person using a Pre-Payment account is authorised.