Enter Payment Info per Company

Explanation

This activity can be used to enter prerequisite data elements required by IFS/Payment. Things you can specify are:

• If you want VAT to be reduced at discount.
• The number series if default numbers are to be presented when manual payments are entered.
• If you want VAT to be reduced at write-off.
• If suppliers with negative balances are to be included in payment proposals. This is used as default value when a payment proposal is created.
• If credit invoices are to be included in payment proposals. This is used as default value when a payment proposal is created.
• If credit invoices are included in payment proposals. Credit invoices are automatically distributed among selected debit invoices per supplier, and are automatically given the same planned payment date as the respective debit invoices. This is used as default value when a payment proposal is created.
• If advance payments are to be included in the supplier payment proposals, this is used as a default value when a payment proposal is created.
• If cash discounts are to be included in payment proposals (according to planned payment dates and terms of payment as per invoice).
• If advance payments are to be included in direct debiting proposals, this is used as a default value when a direct debiting proposal is created.
• The interest invoice type, INTRINV to be used for interest invoices is proposed.
• If netting possibility is to be shown when supplier invoices are to be paid and the supplier also is a customer within the same company.
• If checks are to be posted as cashed at the same time as check payment is created. If not, checks are posted on an interim account until confirmation is received from the payment institute that the check has been cashed.
• The payment tolerance details for the company. This information will be used when payments are accepted.

Prerequisites

There are no prerequisites for performing this activity.

System Effects

There are no system effects as a result of this activity.

Window

Company

Related Window Descriptions

Company

Procedure

1. First ensure that you have specified the ID of the correct company.
2. Select the Vat Reduction at Cash Discount check box if VAT is to be reduced at discount.
3. Select the Suggest Discount for Partial Payments check box if discounts should be used for partially paid invoices.
4. Enter a number series in the Default Customer/Supplier Invoice Series field if default numbers are to be presented when manual payments are entered.
5. Select the Include Supplier With Negative Balance check box if suppliers with negative balances are to be included in payment proposals. This is used as default value when a payment proposal is created.
6. Select the appropriate check boxes in the Supplier Payment Proposal Parameters area if the credit invoices, payments on account, and advance payments are to be included in the supplier payment proposals. These values will be used as default values when a supplier payment proposal is created.
7. Select the Allocate Credit Invoices According To Debit Invoices check box if credit invoices are included in payment proposals. Credit invoices are automatically distributed among selected debit invoices per supplier, and are automatically given the same planned payment date as the respective debit invoices. This is used as default value when a payment proposal is created.
8. Select the Show Netting Possibility check box if netting possibility is to be shown when supplier invoices are to be paid and the supplier also is a customer within the same company.
9. Select the appropriate check boxes in the Customer Direct Debiting Proposal Parameters area if credit invoices, payments on account, and advance payments are to be included in customer direct debiting proposals. They are used as default values when a direct debiting proposal is created.
10. Under Automatic Supplier Payment select the Include Recurring Payments check box, select Include Non-Supplier Payments check box to include the relevant items in automatic supplier payment proposals. These are the default values when creating automatic supplier payment proposals.
11. Select the Allocate Credit Items According To Debit Items check box if credit items are to be included in customer direct debiting proposals.
12. Select the Generally Best Payment Term check box to use discounts in customer direct debiting proposals even if the discount date is passed.
13. Select the Show Netting Possibility check box if netting possibility is to be shown when customer invoices are to be debited and the customer is also a supplier within the company.
14. Under Payment Tolerance, enter the tolerance percentage (used for automatic write-off) and the maximum amount of tolerance accepted per payment. In the Tolerance Currency field, enter the accounting currency used. In the Tolerance Days for Discount field, enter the number of days after the entered discount date allowed in order for the payment to still receive the discount.
15. Enter a value in the Interest Invoice Type field. The interest invoice type INTRINV to be used for interest invoices is proposed. Use the List of Values to select from among valid options.
16. Similarly, in the appropriate fields, enter invoice type values to be used for customer difference items and supplier difference items. You can select values from the List of Values. The default values CUDIFFINV and SUDIFFINV will be proposed for customer difference items and supplier difference items, respectively.
17. From the Payment Posting Method list, select the method to use for posting invoice payments. If you select Net, the current core approach is used. (For example, the invoice currency rate is used for postings of IP1/IP2 and the currency difference is posted on one side. If you select Gross, the payment currency rate is used for IP1/IP2 postings and the currency difference is posted on two sides.)
18. From the Reposting Method list, select the method by which postings should be created when a ledger item is moved to another account, i.e., Reverse or Correction. This method will affect postings created from the Bad Debt Management window and Repost Customer Ledger Item or Repost Supplier Ledger Item window.
19. From the Dissolve Bad Debt Provision to list, select how the posted bad debt provision should be dissolved, i.e., to Cost (PP74) or Revenue (PP75). This will affect invoices with bad debt provision when the bad debt level is changed or when they are transferred from bad debt or partially/fully paid.
20. Select the Allow Write-off for Partial Payments check box if write off is to be allowed for partial payments or if it is necessary to be able to change the write-off amount without changing he payment amount.
21. Save the record.