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Overview
Overview
A Debit Order is an arrangement with a bank or financial institution that 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 will show you how to set up processing debit orders.
Table of Contents
How to Setup a Debit Order Management System in QuickEasy BOS Enterprise
How to Setup a Debit Order Management System in QuickEasy BOS Enterprise
Create a Bank Account for your debit order management system.
Change the Billing Method for Debit Order Customers.
Create a new Entry Type for Customer Receipts - Debit Orders.
How to Create a Bank Account for the Debit Orders
How to Create a Bank Account for the Debit Orders
Navigate to Main Menu > Setup > Accounting > Accounts (tab).
Click Add Account (button).
Enter the Name of the debit order bank.
Set the Category (column) to Bank.
Set the Default (column) to Bank.
Select the Currency.
Click Save (button).
How to Change Customer Billing Method
How to Change Customer Billing Method
Navigate to Main Menu > Office > Customers.
Click View (button) to see a list of customers.
For every customer who is paying by debit order:
Double-click the customer record to open it.
Navigate to Accounting (tab).
Next to Billing Method, select Debit Order from the dropdown list.
Enter the Debit Order Bank Details in the fields provided.
Click Save (button).
How to Create a New Transaction Type for Customer Debit Order Receipts
How to Create a New Transaction Type for Customer Debit Order Receipts
Navigate to Main Menu > Setup > Transactions > Transaction Types (tab).
Locate Customer Receipts > right-click and click Copy to new Transaction Type.
Click Edit (button).
Update the Description to Customer Receipts - Debit Orders underneath the General heading on the right.
Change the Code to CR-DO.
Click Save (button).
Navigate to Main Menu > Setup > Accounting > Transaction Types (tab).
Click Edit (button).
Navigate to the newly created Transaction Type = Customer Receipts - Debit Orders.
Under the Dr Account column, select the Bank and the Debit Order Bank Account from the dropdown list.
Under the Cr Account column, select Receivables and leave the Account blank.
Click Save (button).
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