Consolidate Sales Account Collections

If you have Direct Debits set up for multiple subsidiaries of the same company, you can consolidate the collections into a single transaction under the parent company.

For example, customers 'A', 'B 'and 'C' are subsidiary companies of customer 'D'. A breakdown of their Direct Debit collections is as follows:

Customer	Collection Amount
A (Parent Company)	100
B	150
C	120
D	75

The total amount to be collected is 445.00. Instead of collecting these as 4 individual payments you can consolidate them into a single collection against Customer 'D'.

You can link accounts by giving them the same reference on the DD Parent Analysis Field on the SALES ledger in IRIS Financials.

1. Select Maintenance > Ledgers, then select the applicable SALES ledger.

2. Select LINKS, then selectAccounts.

3. Select a customer and open Analysis Fields .

4. Select EDIT then More... on DD Parent and select the applicable parent account.

5. Repeat for all accounts you need to link together.

   Remember to also set the Parent account with the same reference. All accounts with the same DD Parent are linked.

   When you have finished, select SAVE.

6. The Bank Account number, Sort Code and Reference fields on all linked accounts must match that of the parent account on the Payments tab. If an exact match is not found on all 3 fields, then the account is treated as a separate transaction when the collection file is produced.

Configuring the Parent Analysis Field in Direct Debit Emailer

In order to consolidate customer collections, you must link the DD Parent field in Direct Debit Emailer.

You only need to do this once and the setting will apply to all users.

1. Open Direct Debit Emailer and select Settings.

   

2. Select DD Parent from the Parent userfield drop-down list.

3. SelectSave.

When a collection is created in Direct Debit Emailer, all invoices that are linked to the same DD Parent Analysis field will be grouped together as one collection.