We have a wonderful meeting with Cheng & Cheng, CPA on our presentation of the Settlement function. Pat, the financial accountant, has raised a very good point after carefully examined the features. She wanted to have the instant granting of discount and write-off at the time of doing the settlement, rather than afterward in a separate function. That really make sense. We have already included the overtpayment to be recorded automatically to client’s advance and deposit account. What if a client pays less than the invoice amount and demanded the discount from it? Would it be convenient to do all these things in one place and record them in the journals automatically.
The other thing that worth mentioned is that when the firm offers no charge to a particular item, they don’t want just to use the zero amount on the invoice. So, we come up with a “list of descriptive terms on no charge item” to be input by the firm on a firm-wide basis. Pat, thank you!