INCOMING AND OUTGOING PAYMENT

1
INCOMING AND OUTGOING PAYMENT

• 98/05/25
• ?????? ??

2
Topic Objectives

• At the end of this course, you will be able to
• Manual Payments Incoming
• Outgoing Check Payment

3
Manual Payments Incoming

• At the conclusion of this topic, you will be able
  to
• Post incoming payments using different payment
  means
• Describe the different scenarios for using
  incoming payments
• Describe the Deposit function.

4
Initial Definitions (1)

• Split BP/Account in Journal Entry - determines
  the journal entry structure
• Maximum No. of Documents in Payments - determines
  the maximum open transactions to be applied in
  one payment
• Split Credit Voucher - determines the behavior of
  credit card vouchers when multiple payments are
  used
• Display all Transactions by Default - affects the
  default display for the open transactions

5
Initial Definitions (2)

• Under/Over Payment Amount Allowed - determines
  the maximum deviation between the payment and the
  amount due
• G/L Account Determination - determine default GL
  accounts to accommodate the functionality of
  incoming payment
• Define Banks and Credit Card information for
  customers

6
Demo Initial Definitions (1)
7
Demo Initial Definitions (2)

• Administrationgtsystem initializationgtdocument
  settings
• Click on the Per Document tab and choose Incoming
  Payment from the drop down list
• Select the Split BP/Account in Journal Entry box
• if you wish to split the Business Partner row or
  the GL Account used in the incoming payment.
• This will be applied when multiple Checks or more
  than one credit card payment is entered.

8

• Define the Maximum no. of documents in one
  payment
• Restrict the maximum number of Invoices Credit
  Memos Manual Journal Entries that can be cleared
  in one payment.
• If you select more documents than the max number,
  an error message appears at the bottom of the
  window.
• The Split Credit Voucher box determines whether
  to split vouchers
• If multiple payments are defined when credit card
  is used. The system will divide the voucher into
  several sub-vouchers, depredating on the number
  of payments, due dates and payment amounts. More
  details can be found in the Credit Card lesson.

9

• Display all transactions by default is selected
  by default.
• When this box is selected, open Journal Entries
  will be displayed in addition to open invoices
  and credit memos. This box appears in the
  incoming payments window, and can be deselected
  at that time.
• Define the Max amount allowed for over and under
  payment in loc

10
Incoming Payment Window (1)
11
Incoming Payment Window (2)
12
Incoming Payment Window (3)

• The incoming payments window is divided into 3
  main areas
• In the general area, select the customer, enter
  relevant dates and other information.
• The documents for payment table displays open
  invoices, credit memos and manual Journal Entries
  to be cleared in the payment.
• The bottom part of the window displays totals and
  general remarks for the payment.

13
Entering Payments (1)
14
Entering Payments (2)

• Payments are usually entered in two stages
• First, Determine the payment amount
• Choose the open documents and/or transactions
  enter any partly paid amounts enter amounts paid
  on account.
• Then, enter the payment means by which it was
  paid Check Bank transfer Credit card or Cash
• The first stage is done in the main Incoming
  Payments window, and the second stage in the
  Payment Means window.

15
Payment of Whole Invoices (1)
16
Payment of Whole Invoices (2)

• To begin with, let us look at a whole payments of
  an open invoice. Here we can see two open
  invoices. We can receive a check to pay off the
  invoices for the entire amount. In this case the
  invoices will be closed. The Journal entries of
  the invoices and the payment will be reconciled
  automatically.

17
Deposits of Incoming Checks (1)
18
Deposits of Incoming Checks (2)

• To complete the process of incoming checks, the
  deposit function enables you to transfer the
  funds from the G/L clearing account to the banks
  G/L account. It is also possible to print a
  deposit slip. Deposit is available for Checks,
  Credit Card vouchers and Cash

19
Outgoing Check Payment (1)
20
Outgoing Check Payment (2)

• When you create the payment you must assign the
  appropriate bank and account
• G/L account will default from the house bank
  account setup, and can be modified in the payment
  it self.
• Different G/L account can be assigned to
  different checks in the same payment
• Once the payment is added, a check record is
  created.

21
Test of Your Knowledge