There are number of reasons why the aged denbt report as printed from the vet system will not reconcile to sage the aged debt as reported by Sage on the same date:
For example: It’s the last day of the month. Mrs W comes into the practice with her dog. You carry out the consultation as normal and perhaps you prescribe some tablets. Mrs W pays by credit card. Your vet system will record the “booked turnover” ie the charge for the consult and the drugs. The payment by credit card will also be recorded. So according to your vet system, Mrs W is not a debtor ie she does not owe you money. BUT the problem is that you will not have received that money until circa three days later, so from the point of view of the bank and of Sage, Mrs W IS a debtor.
In order to reconcile the two, we use what is called a “Takings control account”.
In essence the Taking Control “holds” the timing difference between the Debtors and the Bank – takings control
2) It is important that the transactions posted on to sage mirror image those on the vet system.
One example of where things can go wrong, if work has been done on an animal and an insurance claim made. In some instances the insurance company will pay the veterinary practice and in other circumstance the veterinary practice will ask the client to pay up front so that it is the client that is paid by the insurer. Occasionally things go wrong, in that both the client and the insurer can pay the practice, and a payment is then made to reimburse the client. But how do you post it? The vet system will show the original work done, with two payments made against it. The refund will have to be processed through the vet system to correct the client’s balance, and therefore the payment of the refund to the client will need to be posted to the takings control account.