The Counterparty is an important entity in the accounting system. It's designed to hold detailed financial and accounting information associated for each Person/Company defined in the directory system.
Each Accounting Information stores the following data points:
Counterparty: This is the link to the counterparty from the directory system to which the accounting details are linked.
Tax ID and VAT(% Value Added Tax): These fields represent the tax identification of the entity related to the counterparty and the value-added tax associated.
Default Currency: The default currency for financial transactions related to the entry.
These fields store the default email information set up for sending invoice notifications:
Email To, CC, BCC: These are the email addresses where invoices are sent to, with CC's and BCC's.
Email Subject and Body: The default subject line and body content of the invoice email.
Send Mail: A boolean field that defines whether the email should be sent or not.
Counterparty Is Private: This boolean field is used to indicate whether the counterparty's information is private.
Exempt Users: Those are users who are exempted and can view private invoices for the counterparty.
Booking Generator: The generator used to generate bookings for this counterparty.
Default Invoice Type: The default type of invoice issued to the entity related to the entry.
Remember, filling these details precisely will ensure correct allocation of financial transactions, taxes and streamlined communication regarding invoices. Being meticulous with these details can significantly improve the accuracy of your financial records and efficiency of the accounting process.
