This section explains how to set up and manage financial events within MaxMoney.

Overview

Financial events in MaxMoney are crucial for accurately recording transactions in your accounting records and financial statements. They ensure that all financial transactions are correctly recorded in both the customer ledger and the general ledger using a double-entry system.

When using Collection Services Provider within MaxMoney, you should follow the procedures for Integration Partners.

To access these settings, go to Setup > Accounting > Events.

Security Note: Access to this feature is managed by the Setup > Financial Events option under the Report section of your Role settings.

Important Considerations

When completing financial events, do not use any special characters as they can cause errors when posting receipts.

Managing Financial Events

You have the following options for managing financial events:

• Add a New Financial Event: Click the Add new Financial Event button to create a new event.
• Edit Financial Event: To modify an existing event, either double-click on its row or click the Edit Financial Event button.
• Print an Event: Click the print button to generate a printed list of events.

Viewing Financial Events

When viewing events, the following columns provide detailed information:

• Event No.: The system automatically assigns a unique number to each event you create.
• Description: The name of the event.
• Dr (Debit): The nominal ledger that will be debited when transactions related to this event are recorded.
  • Note: If "Payment to Client" is selected, no Main Ledger accounts (like Client Control Account) will appear in the Debit dropdowns.
• Cr (Credit): The nominal ledger that will be credited when transactions related to this event are recorded.
  • Note: If "Payment to Client" is selected, no Main Ledger accounts (like Client Control Account) will appear in the Debit dropdowns.
• Event Attribute: This value helps the system identify where the event will be used within the system.
• VAT Applicable: Indicates whether VAT should also be recorded when the system processes transactions on the ledgers for this event.

Sorting Options

You can sort the list of financial events using three different options:

• Sort on Event No.: Lists events in ascending order based on their event numbers.
• Sort on Description: Lists events alphabetically based on their descriptions.
• Sort on Event Attribute & Description: Lists events primarily by their event attributes, and then secondarily by their descriptions within each attribute group.

Pre-configured Ledger Accounts

The following ledger accounts are already set up in the system and are available for use with financial events:

• Loan Invoice
• Bad Debts Written Off
• Bad Debts Recovered
• Credit Protection Insurance Charged
• Interest Charged
• Interest Adjustment
• Interest Reversal
• Initiation Fee
• Service Fee Charged
• Service Fee Adjustment
• Service Fee Reversal
• Administration Fee
• Preparation of Business Plan Fee
• Take On / Archive
• Bad Debt Recovered Receipt
• Loan Bad Debt Recovered
• Cashier Short
• Cashier Over
• Electronic Loan Disbursement
• Opening Balance Receipts
• Real Pay Debit Order Receipt
• Allps SEFT
• Allps EFT
• Allps eWallet Payout
• Allps Bank Account Payout
• Payment to Insurance
• Insurance Claim Received
• SureCard MCT
• SureCard TMCT
• Early Settlement
• Early Settlement Reversal
• Cashbox Payment to Client
• Cashbox Receipt
• Cashbox Change to Client
• Cashbox Receive Deposit From
• Cashbox Deposit to Treasury
• Cashbox Deposit to Bank
• Cashbox Payment 3rd Party to Client

Buttons

• Back: Click to return to the previous screen.