Net Settlements

Net Settlements are incredibly powerful and are used to settle transactions within the system off against each other. Net Settlements can be done within or against multiple organisations. 

For example, you may buy and sell to one customer and find it a waste of time paying the organisation as a supplier and receiving money from the organisation as a customer. You can simply net settle the two transactions off against each other like in the example above. This feature can net settle journals and invoices off against each other across multiple organisations

Net settlements within Augtool can only settle transactions against each other if the transactions are related to an organisation. Stand alone journals cannot be settled against journals or invoices. also, we do not provide a way to settle credit and debit notes against anything because these have already affected their relevant invoices. General credit and debit notes are also not visible here because they have their own allocation function that is visible on the general note itself. 

Please let us know if you are using net settlements frequently so that we can discuss the business process with you.