Counterparties in Rise Accounting

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Creating Customers / Suppliers

Most accounting applications treat customers and suppliers like they were from alternate universes. But what happens when that supplier becomes a customer?

Rise Accounting allows your customers to be suppliers and your suppliers to be customers. One business contact can handle both roles.

To add a new business contact:

  1. Navigate to Lists and Settings or Quick menu and click Counterparties.
  2. Click Create.
  3. Enter Company name.
  4. Select one or several roles for you counterparty: Customer or Supplier (at least one is required).
  5. If your counterparty has more than one email adress, select the Use multiple email addresses check box.
  6. On the General info tab, enter a Registration number as well as a Tax number if the Company is VAT registered.
  7. If the company is local, select the Local check box.
  8. Fill in the necessary information on the General info tab:
    • Default Sales account, Accounts Receivable account, Price Level, and Sales Person for a Customer.
    • Default Expense Account, Accounts Payable account, and Price Level for a Supplier.
  9. Click the Terms tab to enter Normal Terms, Shipping Method and Default currency.
  10. Select a Processing method.
    • If there is no need to match payments with invoices, select Balance forward. In this case, invoice statuses and A/R, A/P aging reports will be unavailable.
    • If each payment should be matched with an invoice, select the Open Item Processing method.
  11. Click the Notes tab to enter notes about this Customer / Supplier.
  12. Enter the company website.
  13. Click Save.
  14. Click Addresses / Contacts.
  15. For each Address / Contact of this counterparty:
    • Select the Default Shipping or Default Billing check boxes, if applicable.
    • Enter the Salutation, First Name, Middle Name, Last Name, Job Title (optional).
    • Enter an Email address and phone number, if applicable.
    • Enter the Address Line 1, Address Line 2, Address Line 3, City, Province, Country and Postal Code fields (optional).
    • Add any Notes for this Address / Contact.
  16. Click Save and Close.

Importing Customers / Suppliers

Preparing the Excel Spreadsheet

To import counerparties, use an Excel spreadsheet. Prepare the Excel spreadsheet bearing in mind the specific rules:

  • Spreadsheet has to be saved in a csv format.
  • Some laptops save a csv with a semicolon (;) as a separator but for importing purposes please make sure that it is saved with a comma (,) as a separator. To change the separator, simply open the csv file using notepad, highlight the semicolon, go to edit and select replace, enter the semicolon in the FIND section, then enter the comma in the REPLACE section. You can save it normally and this will automatically fix the csv file as well.
  • Excel spreadsheet should have different columns for each attribute in the system.
  • Each inventory item should occupy 1 row of the spreadsheet.
  • To indicate whether the customer or supplier is VAT registered, use TRUE or FALSE in the Excel spreadsheet.

Once it is ready, make sure it is saved as a csv format and it is closed before importing.

Accessing the Importing Tool

To access the importing tool:

  1. Go to Quick Menu.
  2. Select Getting Started under Tools.
  3. Select Import lists and documents to start the importing process.

Importing Customers / Suppliers

Important Buttons:

  • Prepare Data – once the file has been selected and mapped to the Rise Accounting attributes of an inventory card, this button will check if there are any errors.
  • Load Field Mapping – there are 2 options for this button
    • Load Default – this will allow you to save your current mapping as a default.
    • Load from File – will allow the Rise SA team to create the mapping and send it to the clients. Then the client can import the mapping.
  • Save Field Mapping – there are 2 options for this button
    • Save to Default – this is to save your settings in tabular section that are already mapped. This will help you in not having to map every time you upload data but your file should follow the same structure.
    • Save to File – this will download the current mapping and save it in your laptop’s download folder as an mxl type file.
  • Reset Field Mapping – this will clear all the mapping that has been done.
  • Show CSV and Mapping – this will open the window where you are able to see the Excel spreadsheet and map it to certain attributes.

Important Indications:

After selecting the Import lists and documents option in the Getting started tool, a pop-up window will appear showing all the attributes and details of the importing tool.

  1. In the What do you want to import? field, select Customers / Suppliers.
  2. If the file has a header, select the The first row of my source file contains headers check box.
  3. Make sure that the date format in the file is the same as the date format requested. It should have the same separators and the same positions for the date, month and year.
  4. Indicate how the system should treat rows that already exist. There are 2 options: Ignore record or Update existing record.
  5. To indicate that the system should ignore blank records, select the Ignore blank fields check box.
  6. Click Choose File for Import > Select from disk, select your file and click OK. Make sure the file you select is in a csv format.

Mapping the Spreadsheet to the Supplier Attributes

After selecting the file to be imported, a pop-up window will appear giving you the opportunity to map the spreadsheet to the attributes in the inventory card. This window will look like your Excel spreadsheet file.

  1. Double-click the first row for each column to map it. This row will initially say Choose Field and after it is mapped it will have the attribute name.
  2. When you are done mapping all the spreadsheet to the attributes, click Save and close. To access this window later and make changes, click Show CSV and Mapping.
  3. Required fields on the tabular section are those fields that should be filled in anyway. Make sure all required fields are populated. Key field is the field that holds unique data and identifies the record from all other records in the database.
  4. If you don't want to import some columns, select them in the Do not import column.
  5. There are some attributes that cannot be mapped to the spreadsheet column and must be indicated manually in the importing tool screen. If the file has different attributes above for each item, then these need to be written in the file in the exact same way they are recorded in the system. To map these fields, go to the importing screen and in the highlighted line for each field double-click the Default Value to select a value. For example, for Customer/supplier type, you can specify 0 if all the counterparties you import are customers, 1 if all the counterparties you import are suppliers, and 2 if all the counterparties you import are both customers and suppliers.
  6. GL Accounts – these accounts should be selected straight from the importing tool screen.To map these fields, go to the importing screen and in the highlighted line for each field double-click the Default Value to select a value. This will open up the Chart of Accounts list and you can select the account that you wish.

Checking and Importing the Data

  1. When you are done linking all attributes, click Prepare Data to check if there are any errors in the mapping. Any errors will have a message at the bottom and will be indicated in red. Only the header should be in red as it will not be imported. If you have selected the file has a header option, the system will automatically untick it from the importing selection. If everything is okay, it will be automatically selected. If you would like to clear any, you can do it.
  2. Once you have selected the counterparties to import, click Check Data. If there are any errors, it will also be shown here in the failed section.
  3. If there are no errors, click Back to Data Preview. This will take you back to the checking page where you will now see the Import data button in yellow.
  4. Click Import data. The system will give you statistics of how many have been imported and how many failed.

Checking the Imported Information

Once the importing is done, you can click You can check the results here to open the list of counterpaties.