Ledgers

Every facility and every affiliate in AngelTrack has a ledger, allowing you to record overpayments, overcredits, and miscellaneous fees, for settlement later.


Uses for the Ledger

The ledger is used to store incidental overpayments and overcredits that occur from time to time during invoicing. By recording these overages in the ledger, you do not need to remember that there is an overage to be settled; AngelTrack will remember it for you.

When closing an invoice as 'paid', you can direct AngelTrack to apply any overpayment or underpayment to the ledger, to be settled in the next regular invoice.

Ledger

As seen in the example screenshot, the ledger is also used to record miscellaneous fees that may incur, such as interest payments on unpaid invoices, or fees for services outside the scope of AngelTrack (such as training seminars).


Balancing a Ledger

At any time you, you can balance a facility's or affiliate's ledger by printing a statement (possibly including a check) from your external accounting system.

If issuing a refund check, record the payment in the ledger by clicking the plus icon found on the "Ledger" tab of the Facility Edit or Affiliate Edit page. You should then see the ledger balance return to zero.

If issuing a statement of balance due, then record the ensuing payment in the same manner, but only after you actually receive the payment.

AngelTrack constantly settles your ledgers during invoicing

AngelTrack's Invoice Generators automatically include the current ledger balance when creating a new invoice for a facility or for an affiliate. When that invoice is subsequently paid, AngelTrack will automatically record the balance in the ledger.

It does not matter how often a ledger balance changes: with each invoice, AngelTrack includes the appropriate debit or credit, over and over, always seeking to zero it out.

Because AngelTrack is doing that, you do not need to worry about settling anyone's ledger balance as long as you have ongoing business with them. Only when your business relationship ends, and no more invoices are going out, must you then take steps to close out the ledger.

Paying an invoice using only the ledger balance

You can pay an invoice using only a ledger balance, without an actual payment received: just enter zero as the amount received and then click "Pay". AngelTrack will then use as much of the ledger balance as necessary to pay off the invoice, in the usual way.

A new entry will be added to the ledger, reflecting the amount of debit and a comment to the effect of "Invoice xxxx ledger credit applied".


Checking Ledger Balances

In the Billing Home page, the Facilities With a Balance and Affiliates With a Balance reports show (among other things) the current ledger balances of all facilities/affiliates that have a non-zero balance. You can also open any Facility Edit/Affiliate Edit page and visit the "Ledger" tab to see the current ledger balance and contents.


Using a Ledger to Manually Add Charges to an Invoice

The invoice generator will automatically add charges or credits in order to settle any ledger balance. Later, when the invoice is paid, the ledger is re-settled using any underpayment or overpayment.

You can use this feature to add miscellaneous charges to an invoice. (If you wish to add charges for a specific dispatch, then add them directly to the dispatch as service charges.)

If you have not yet created the invoice, then add the charge/credit to the ledger, being sure to include an explanatory comment. Then generate an invoice with the ☑ Include any ledger balance box checked. Your invoice will include the charge/credit along with a chart of all unsettled ledger items (including the one you just created).

If you have already created an invoice, and wish to add a charge or credit to it, you can edit the invoice right in the grid in the Invoices page. Change the ledger balance entry as needed. Then create a ledger item to match it, so that it will all settle out when the invoice gets paid.


Reviewing All Ledger Activity

Under Billing home there is a report named Ledger Activity, which shows all activity across all facility ledgers and all affiliate ledgers.

The report has date filters, and of course can export its data to Excel for further manipulation.



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