Managing Principal accounts with the Remitter

You can do the Payment transfers Out (principal acct) and IN (surgeons) manually without the Remitter Module but if you tend to have lots of Principal Accounts and/or sub-accounts then the Remitter will save a lot of time. The Remitter is available as a 30 day trial with all new installs of Lab Manager, or as a separate download from our website.

Preparation:

Create a new account for the Principal Account, even if this person also has a Surgeon account.

Provide any Invoice address (which may be the same location as the Practice), but it's best not to assign the Practice (Delivery Address).  eg.

Name.   Mr A Smith

Customer Type.  Principal Account

Address.   Accounts Department, Orchard Road Dental Practice, 14 Orchard Road..

Practice Address.  Not assigned.

Method A

Each month Raise a Practice Summary Invoice for the period.

Send / Email this to the Principal Account with a covering note stating your Business terms.. eg

Please find attached, a copy of the full Practice Invoice

Your standard discount is 2.5% and a further 2.5% early payment discount is applicable if your remittance of £ N.NN is received by..

In the Remitter, process a remittance for the practice's surgeons, for the statement period

Step 1 Manually make a remittance advice list

Step 2 List invoices to be paid

Step 3 Pay off the Invoices

This will make credit payments on all the surgeon accounts and fully allocate the Invoices.

Debit payments will appear in the Principal Account.

In Lab Manager, with the Principal Account on the Main Form:

When it arrives, enter the actual remittance amount as Payment Credit and allow Transactor Lab Manager to auto-allocate this.

Add payment credit, of type Adjustment Credit for the 2.5% standing discount

If appropriate also add Payment Credit, of type Early payment discount for the additional 2.5%

Now you can print an ordinary Customer Statement for the Principal Account

This will show the debits for the various sub-surgeons, the remittance, the discounts and the remaining balance due (if any).

Method B

Crazy as it may sound, you could use the Remitter first ergo.

In the Remitter, process a remittance for the practice's surgeons, for the statement period

On the Principal Account, Add payment credit, of type Adjustment Credit for the 2.5% standing discount

Print / Email a normal customer statement. Attach a note

Your standard discount is applied at 2.5% and a further 2.5% early payment discount is applicable if your remittance of £ N.NN is received by..