Unit 8, 14 Ashtan Place, BANYO 4014
Brisbane Queensland Australia
Phone: 07 3267 7880
http://www.lennox.com.au
Business Accounting Software
Innovation, Installation, & Support
Lennox Computer
Lennox Computer Home Page
Est. 1984
eCommerce
eMail: info@lennox.com.au
LILAC Debtors Ledger
Debtors (or Accounts Receivable) is an accounting ledger with the role of keeping track of money owed to the business by customers who purchase goods & services on credit accounts, and who make payments from time to time according to an agreed aging of the debts.

The LILAC Debtors ledger is an integrated part of the whole LILAC package, and generally most of the debits are created by the operation of other parts of the package such as Sales Orders and Invoicing.

The LILAC Debtors Ledger could be operated in a purely stand-alone mode, but nowadays most businesses would expect to exploit the benefits of integrated accounting operations.

LILAC Debtors are implemented as an "open-item" regimen rather than a "balance forward" style. This means that the software keeps track of the details of any unpaid or partly paid items (usually invoices), until such time as they are fully paid for. The presentation on the Statement document lists the unpaid and partly paid items, and summarizes the balances on a 30/60/90 day aging.
Debtor Account Document
This document is used to create and edit data stored in the database about individual debtors. It brings together a Name & Address record for the "Head Office" of the debtor, plus any number of site or delivery addresses associated with it.

Below the black line fields specific to debtors operation are defined such as Credit Limits, Sales Analysis Parameters, Discount & Price Selection Parameters, classification and categorisation data.

Many businesses make LILAC debtors synonymous with customers, and distinguish between trading terms by setting the Terms field - i.e. a cash only customer is a debtor with 0 days terms.
Lennox Computer - 07 3267 7880
info@lennox.com.au
Brisbane, QLD, Australia.
Download a Trial Version of LILAC
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