The 'Principal Account' customer type is just a way to easily identify your customers which pay money on behalf of other customers.
The principal account can be any customer account you choose in Transactor, even an ordinary customer or dentist, although we'd suggest that you use a principal account solely for receiving and splitting payments and do not put invoices through it.
To mark a Customer as a Principal Account
In the Customer record, in the Type box, choose Principal Account, or Principal dentist
If you are choosing the Principal Account type, it's best not to specify the Deliver to/Practice so that this account's transactions
will not appear on a normal Practice Statement.
What's the difference between a Principal Account and Principal dentist?
Not much, except that the Principal Account can be set up for anyone, or organisation, who is remitting on behalf of other customers. You won't be booking work in for this account, so this means the account history, and customer statements, and aged debt reports etc will be clear.
For the above reason, it's probably a good idea not to use the Principal dentist account type. Instead, set them up with another account so this customer will have two accounts with you. One for their dental work, and one for their Financial 'Principal Account' relationship with you. At the end of each month you can send this customer 2 statements, each being very clear.
In the above case, we'd recommend you set up the 2nd account with 'Accounts Department' in the first row of the address, to be clear.
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