MODACC - ACCOUNTING
Ó UNCTAD SITE (V1.15)
4.19
Fig 4.7: Statement screen (bottom half)
The Credit Account Statement
The credit statement is given a unique number. In the above example, (figures 4.6 and 4.7), it is
numbered 1 as it is the first statement of the year. The statements are sequentially numbered by
the system (within an office and a year) in order to have a continuous series, without gaps.
The statement numbering series allows for three digits, thus allowing statements
to be produced daily if required. This is sufficient, as the calculation of the delay
for payment cannot be less than one calendar day. Multiple offices using one
server database can all access the credit account. The numbering of the
statement is unique in the database regardless of which office generates it. This
unique statement that is generated is considered the ORIGINAL.
Amendment of the Statement
After an original statement has been generated, the declarations on that statement may be
modified before statement payment and the total liability of the statement may also change.
Post Entry amendments may increase or decrease the liability for individual declaration(s) shown
on the statement. This does not change the total liability shown on the original statement that has
been generated. Indeed the statement may have already been sent to the account holder for
payment.
It is therefore possible that when a declarant pays the statement at a bank that he may overpay or
underpay if he pays the liability shown on the statement when there has been any post entry
adjustment between the generation of the statement and payment.
Accounting for payment of a credit statement when the liability has changed.
If the total liability of the statement has increased, enter the means of payment code for Bank for
the amount paid at the bank and add another means of payment for the additional amount i.e.
cash. Remember to collect the additional liability from the account holder.
If the total liability has decreased, enter the means of payment code for Bank for the revised total
amount of the statement, open the account holders corresponding pre-payment account and credit
that account with the balance of the bank payment. If a pre-payment account does not exist, it can
be created.
To view a credit account statement after generation, to check for revisions in the total liability
following any post-entry adjustment, Functions, Payments in, Decl. statement [Credit],
View statement . This option asks for the: