FAQ

Bounced Payments in Foreign Currencies

Customer Invoice

Example: Invoice amount USD 100 | Rate 3.00 | Local Net Total = RM 300

Scenario 1: Payment Received at a Higher Rate (Gain)

Example: Received RM 330 (Gain of RM 30).

To process the bounced payment:

1. Issue a Customer Debit Note: Create a Debit Note to reverse the original invoice amount.

   

2. Issue a Payment Voucher: Create a Payment Voucher to credit out the amount that was previously knocked off.

   

Scenario 2: Payment Received at a Lower Rate (Loss)

Example: Received RM 270 (Loss of RM 30).

To process the bounced payment:

1. Issue a Customer Debit Note: Create a Debit Note to reverse the original invoice amount.

   

2. Issue a Payment Voucher: Create a Payment Voucher to credit out the amount that was previously knocked off.

   

Supplier Invoice

Example: Supplier Invoice amount USD 100 | Rate 3.00 | Local Net Total = RM 300

Scenario 1: Payment Made at a Higher Rate (Loss)

Example: Made payment of RM 330 (Loss of RM 30).

To process the bounced payment:

1. Issue a Supplier Debit Note: Create a Debit Note to reverse the original invoice amount.

   

2. Issue an Official Receipt: Create an Official Receipt to debit the amount that was previously knocked off.

   info

   Assign the USD 30 difference to a Loss on Foreign Exchange GL account.

   

Scenario 2: Payment Made at a Lower Rate (Gain)

Example: Made payment of RM 270 (Gain of RM 30).

To process the bounced payment:

1. Issue a Supplier Debit Note: Create a Debit Note to reverse the original invoice amount.

   

2. Issue an Official Receipt: Create an Official Receipt to debit the amount that was previously knocked off.

   info

   Assign the USD -30 difference to a Gain on Foreign Exchange GL account.

   

Unrealized Foreign Exchange Gain/Loss

Posting Unrealized Gain/Loss

1. Go to Customer → Print Customer Aging Report.

   

2. Select the Date.

3. Select the Foreign Customer.

4. Select the Unrealized Gain Loss report format.

5. Click Apply.

   

6. Click Preview. A dialog will prompt you to enter the currency rate.

7. Enter the Closing Currency Rate and click OK.

   

8. The system will display the report with the auto-calculated Unrealized Gain/Loss Amount.

   

9. Click Post_DNCN_Adjustment.

   

10. A "Posting Done" message will appear.

    

11. Go to Customer Credit Note or Customer Debit Note to verify the posted adjustment.

note

• The same steps apply to Suppliers.
• For more information, watch the tutorial on YouTube.

Bank Deposit Management

Bank Deposit is used when banking in two or more cheques in a single transaction slip. This groups the transactions in the Bank Reconciliation screen for easier matching.

Steps to Create a Bank Deposit

1. Go to Customer → Customer Payment.

   

2. Click New.

   

3. Right-click in the blank space of the entry grid and select Open Bank Deposit.

   

4. Click New.

   

5. Enter the Transaction Slip Number, select the Date, and choose the Bank Account.

   

6. Click Search. The system will find customer payments within the selected date range.

   

7. Check the payments included in the same transaction slip and click OK.

   

8. The selected payments will appear in the panel. You can remove incorrect entries using the [-] button. Click Save.

   

Reconciling the Bank Deposit

1. Go to GL → Bank Reconciliation.

   

2. Click New.

   

3. Select the Bank Statement Date and the correct Bank Account.

   

4. Set the Display Period (ensure it includes the bank deposit date). Enter the Bank Closing Balance from your statement and click Apply.

   

5. The cheques from the Bank Deposit will be displayed as a single row with the total amount. Check the row and click Save.

   

Bank Deposit via Cash Book Entry

You can also create a bank deposit through the Cash Book.

1. Go to GL → Cash Book Entry.

   

2. Click New.

   

3. Right-click in the blank space next to the Payment Voucher tab and select Open Bank Deposit.

   

Multi-Currency Payment Guide

Customer Payment Scenarios

#	Customer Currency	Payment Received In
1	RM	RM
2	USD	RM
3	USD	USD
4	USD	SGD

1. Customer Paid in RM & Payment Received in RM

1. Verify the customer's currency is set to RM (indicated by ----). Go to Customer → Maintain Customer.

   

2. Create the Invoice. Go to Sales → Invoice.

   

3. Process the Payment. Go to Customer → Customer Payment.

   

2. Customer Paid in USD & Payment Received in RM

note

Refer to Scenario 1 to verify if the customer is using USD.

1. Check the Local Amount and Net Total. If they differ, the document is in a foreign currency (e.g., USD). Go to Sales → Invoice.

   

2. Process the Payment. Go to Customer → Customer Payment.

   

   • 2A. Currency Rate: The rate used for knocking off the payment (auto-calculated).
   • 2B. Payment Amount: The amount received in RM (based on the Bank payment method currency).
   • 2C. Payment Method: Select the correct bank account.
   • 2D. Pay Amount: You can enter the desired amount; the currency rate (2A) will update when you knock off the invoice.

3. Customer Paid in USD & Payment Received in USD

1. Setup:

   1. Maintain a USD Bank account in the General Ledger (GL → Maintain Account).
   2. Assign the USD currency to the payment method (Tools → Maintain Payment Method).

   

2. Create the Invoice (USD currency). Go to Sales → Invoice.

   

3. Process the Payment. Go to Customer → Customer Payment.

   info

   The currency rate in the top-right corner can only be edited if the customer's currency matches the payment currency.

   

   1. Rate: Update the rate according to the current market value.
   2. Payment Method: Select the USD payment method.
   3. Paid Amount: Enter the amount of USD received.
   4. Local Amount: Auto-calculated as Paid Amount × Currency Rate.
   5. IV Amount: This follows the foreign currency amount, not the local amount.

   If the currency rate differs from the Invoice rate, the system will prompt a message showing the Gain/Loss on Foreign Exchange upon saving.

   

   note

   If the Invoice rate was 3.5 and the payment rate is 3.6, the system will auto-calculate and display the gain/loss when you click Save.

4. Customer Paid in USD & Payment Received in SGD

For customers using USD where payment is received in a different foreign currency (e.g., SGD), ensure the corresponding payment method is maintained. Refer to Scenario 3 for setup instructions.

Sales Commission Reports

Setting Up Commission Scripts

1. Go to Tools → Maintain Commission Script → New. Enter a Code and Description.

   note

   This feature requires the Maintain Commission Script module.

   

   Default Commission Script Example:

   procedure CalculateCommission(AKODocAmt, AAge: variant; var Value: variant);
   begin
       if AAge < 10 then
           Value := AKODocAmt * 0.05
       else if AAge < 20 then
           Value := AKODocAmt * 0.03
       else if AAge < 30 then
           Value := AKODocAmt * 0.02
       else
           Value := AKODocAmt * 0.005;
   end;

2. Update the commission rates and age brackets in the script as needed, then click Save.

   

   • Age Brackets: 10, 20, 30 days.
   • Rates: 0.05 (5%), 0.03 (3%), etc.

3. Assign the script to an agent. Go to Tools → Maintain Agent.

   

4. In the Attachment tab, select the commission script and click Save.

   

5. Generate the report. Go to Customer → Print Customer Document Listing.

   • Select Document Type: Customer Payment Listing.
   • Group By: Agent.
   • Click Apply.
   • Preview using the Cust Local - Payment Listing - Collection Report format.

   

Post-Dated and Bounced Cheques

Post-Dated Cheques (PDC)

A post-dated cheque is written for a future date.

1. Go to Customer → Customer Payment.

   

2. Click New.

   

3. Create the payment and knock off the corresponding invoice. Ensure the bank account and amount are correct.

   

4. Right-click in the blank space next to the Customer Payment header and select Set Posting Date.

   

5. Select the actual Posting Date of the cheque and click OK.

   

6. The posting date will now be displayed. Click Save.

   

7. In the Ledger Report, the transaction will appear under the specified posting date.

   

8. To view all PDCs, go to Customer Reports → Print Customer Post Dated Cheque Listing.

   

9. Select the Payment Date (not the posting date) and click Apply.

   

Bounced Cheques

A bounced cheque is one that cannot be processed due to insufficient funds or errors.

1. Go to Customer → Customer Payment.

   

2. Locate and double-click the bounced payment document.

   

3. Click Edit.

   

4. Right-click in the blank space next to the Customer Payment header and select Bounced Status.

   

5. Check the Bounced box and set the Bounce Date (must be on or after the posting date). Click OK.

   

6. The document will be labeled as bounced. Click Save.

   

7. The Ledger Report will reflect the bounced transaction on the specified date.

   

MyKad Integration

Reading Customer Info via MyKad

1. Connect your Smart Card Reader to your computer. The reader will show a red light when connected.

   

2. Insert the MyKad into the reader. A blue light indicates a successful read.

   

3. In SQL Account, go to Customer → Maintain Customer → New.

4. Click Read MyKad.

   

5. Select the Reader Device and click Read Card.

   

6. Click Read MyKad.

   

7. The system will automatically populate the Name, Address, and ID Number.