Debit Orders - Setup Tutorials

Overview#

A Debit Order is an arrangement with a bank or financial institution. It allows a business or service provider to automatically deduct a set amount of money from a customer’s bank account at regular intervals. This process is typically used for recurring payments, such as monthly bills, loan repayments or subscription fees.

When a customer authorises a debit order, they grant permission for the service provider to withdraw funds directly, simplifying the payment process and ensuring payments are made on time.

💡This tutorial explains how to set up the accounts to manage debit order receipts.

How to Set Up a Debit Order Management System in QuickEasy#

1. Create a Bank Account for your debit order management system:
   1. Navigate to Main Menu > Setup > Accounting.
   2. On Accounts (tab) expand the Statement of Financial Position > Assets > Bank.
   3. Right-click Bank and select Add Account.
   4. Create a new Bank Account with the same name as your debit order provider.
2. Change the Terms for Debit Order Customers:
   1. Navigate to Main Menu > Setup > Accounting.
   2. Click Credit Terms (tab).
   3. Click Add Credit Term and enter Debit Order.
   4. Click Save (button).
3. Change the Customer accounts:
   1. Edit the Customer.
   2. Navigate to Accounting (tab).
   3. Credit Terms = Select Debit Order from the dropdown list.
4. Create a New Entry Type for Debit Order Customer Receipts:
   1. Navigate to Setup > Accounting.
   2. Click Entry Types (tab) and select Add Entry Type.
   3. Create an Entry Type as follows:
      1. Enter the Description: Debit Order Customer Receipts.
      2. Set VAT Type: No VAT.
      3. For Debit: Ledger (leave the account field blank).
      4. Set Credit: Customer.
      5. Under Status (section), make sure the Accounting (column) is checked for the "Pending" Status.
      6. Under Status (section), make sure the Default (column) for the "Complete" status is set to Reconcile.
      7. Accept the defaults for all other fields.
      8. Click Save (button).