Using Offsets in BindHQ

Introduction

Offsets allow users to clear balances by applying existing transactions against one another. This is commonly used when a customer has both receivable and payable transactions that should be reconciled without recording an additional receipt or payment.

When to Use an Offset

Use an offset when:

• A customer has transactions that should cancel each other out.

• A receivable and payable balance needs to be reconciled.

• A credit memo should be applied to an invoice.

• A bill credit should be applied to a bill.

• A journal entry needs to be applied against an open transaction.

• A third-party payment requires balancing an invoice and a bill.

Before Creating an Offset

To create an offset, the selected transactions must include both:

• A positive balance.

• A negative balance (displayed in parentheses).

When both transaction types are selected, BindHQ will allow you to create an offset.

Creating an Offset from an Insured

1. Open the desired Insured record.

2. Select the Accounting tab.

3. Locate the transactions you want to offset.

4. Select the transactions using the checkboxes.

5. Verify that the selected transactions include both positive and negative balances.

6. Click With These Transactions.

7. Select Offset.

8. Review the offset and save.

Creating an Offset from a Retail Agency

1. Open the desired Retail Agency record.

2. Navigate to More → Accounting.

3. Locate the transactions you want to offset.

4. Select the transactions using the checkboxes.

5. Verify that the selected transactions include both positive and negative balances.

6. Click With These Transactions.

7. Select Offset.

8. Review the offset and save.

Creating an Offset from a Marketing Company

1. Open the desired Marketing Company record.

2. Select the Accounting tab.

3. Locate the transactions you want to offset.

4. Select the transactions using the checkboxes.

5. Verify that the selected transactions include both positive and negative balances.

6. Click With These Transactions.

7. Select Offset.

8. Review the offset and save.

Creating an Offset from a Finance Company

1. Open the desired Finance Company record.

2. Select the Accounting tab.

3. Locate the transactions you want to offset.

4. Select the transactions using the checkboxes.

5. Verify that the selected transactions include both positive and negative balances.

6. Click With These Transactions.

7. Select Offset.

8. Review the offset and save.

Creating an Offset from a Supplier

The process is similar for Suppliers, with one difference.

1. Open the desired Supplier record.

2. Select the Accounting tab.

3. Locate the transactions you want to offset.

4. Select the transactions using the checkboxes.

5. Verify that the selected transactions include both positive and negative balances.

6. Click Offset.

7. Review the offset and save.

Note: On Supplier records, the action button is labeled Offset instead of With These Transactions.

Reversing an Offset

If an offset was created incorrectly, it can be reversed.

1. Open the Offset Detail page.

2. Click Reverse Offset.

3. Confirm the reversal.

BindHQ creates a reversal transaction while preserving the original offset for audit purposes.