Division Exception Report | Late Payment Fee - LPF

Please add a option Division in LPF or it should auto deduct Division from the invoice tag. At present, it appears in Division Exception Report.

You need to illustrate or explain what you mean better. There is nothing in Manager called “invoice tag.”

All the P&L items have the options to select Division. There is no option to select Division for LPF.

We would appreciate if an option is avalibile here too in order to allocate LPF to relevant Division.

The LPF is linked to an Invoice where you can indicate the Division.

That’s why I expect and use the word invoice tag but it is not; that’s why invoices are appearing in Division Exception Report and we need assistance to learn and resolve the same.

Can you show your Division Exeception Report here so that is is clear what you are asking?

DER is a tool to track the details, most importantly I am concern that all our Income and Expenses items are allocated to certain divisions / tracking code and we ensure all the items are properly allocated.

This report is one of the tool amongst other, which assist us at-least to identify that there are certain items to whom tracking codes have not been alloted.

On following the amount, we reach to above screen. Invoice already has the Division and this is one of the reason SI is not appearing here.

I am concern that, LPF is not accounted in Division P&L which is one of the critical part.

No idea what you mean by “SI is not appearing here”

Sorry about the confusion, Sales Invoice - SI

I think this is a bug
In my test business (using a lot of data, but anyway
My P & L for Year to Date 2021 shows

By division, note missing Foreigh Exchange losses and late payment fees

Adding the two divisions net profit gives 4,157,651.88 - a difference of (197.78)_
The Division Exception Report shows exactly this amount

You can drill down on the amounts in the Division Exception to see how they arise, but there is no option to assign a division

This exactly my point of concern, that there should be an option to select Division.

I am reluctant to call this a bug, because divisional reporting is not yet fully implemented. But I will call it to @lubos’ attention.

Late payment fee transactions should automatically inherit division of the customer.

Fixed in the latest version (21.10.30)

1 Like

What about Foreign Exchange Gains/Losses?

Good idea @Joe91

Foreign exchange gains/losses are more complex. While late payment fees can be associated with the lack of action by one customer, who can be assigned to a division, foreign exchange gains and losses can only be associated with a specific foreign currency cash or bank account. And you can only do that if every foreign currency transaction into or out of that account is associated with the same division.

You could not, for example, assign a bank account denominated in a foreign currency to one division and use it accept receipts from customers assigned to other divisions. This means you would need a separate foreign currency account for every foreign currency and every division.

The matter is further complicated by the fact that foreign exchange gains and losses are not dependent on any action by personnel in a division, nor by customers or suppliers assigned to that division. They are dependent only on outside factors over which the business and division have no control.

I would argue that foreign exchange gains/losses cannot be assigned to divisions in the general case, but only when divisions are truly independent segments of a company, with their own cash and bank accounts and unique customer and supplier lists, selling inventory items (if any) assigned to the same division. For @Rajwani’s school, which started this discussion, I believe that will never be the case. I think there are almost always some items of income or expense that must remain with the parent company and never be allocated to a division.

While foreign exchange gains/losses are more complex, Manager will be able to get it calculated per division eventually. You can create new topic for this so it can be added to ideas category.

@lubos Thank you for the prompt solution! @Tut Thank you for your continuous support.