IMPORTANT |
It is extremely important that you set up and work within your own company and with your own customers and suppliers to maintain your data integrity. If you work with any other objects, your exercises will not function as intended and the data of other students might be affected. Predictable exercise results require that your data must be isolated in your own company. |
Purpose: The purpose of this exercise is to enter a new tax code to be used in the following exercises.
Windows:
Tax Codes
Purpose: The purpose of this exercise is to enter code part values which can be used for pre-posting.
Windows:
Code Part
Values
Purpose: The purpose of this exercise is to set up posting control for the new tax code to be used in the following exercises.
Windows:
Posting Control
Purpose: The purpose of this exercise is to set up posting control to use pre-posting for e.g. Supplier Payments in Advance.
Windows:
Posting Control
Purpose: The purpose of this exercise is to limit the number of transaction types to be used in Mixed Payment for a specific Cash Account.
Windows:
Cash Accounts
Purpose: The purpose of this exercise is to define reminder levels as collection level.
Windows:
Reminder Templates
Purpose: The purpose of this exercise is to enter the data required to run the Mixed Payment functionality.
Link to Manual Customer Invoicing
Purpose: The purpose of this exercise is to enter the data required to run the Mixed Payment functionality.
Link to Manual Customer Invoicing
Purpose: The purpose of this exercise is to enter the data required to run the Mixed Payment functionality.
Link to Arrival Entry Supplier Invoice
Link to Authorize Supplier Invoice
Purpose: The purpose of this exercise is to enter information required to create a multi-company supplier payment using mixed payment functionality.
Enter a supplier Invoice in another company other than your default company for one of your suppliers.
Authorize the invoices/installments for the payment.
Link to Arrival Entry Supplier Invoice
Link to Authorize Supplier Invoice
Purpose: The purpose of this lesson is to enable users to enter various types of payments into the Mixed Payment process.
The Mixed Payment process is used to enter payment transactions that have affected a Cash Account, such as cash receipts from customers and disbursements to suppliers based on for example bank statement. You can also use Mixed Payment to enter several payment transactions within one payment, with possible matching of invoices/installments. You can enter customer and supplier payments, you can confirm payment orders that were sent to, and confirmed by a payment institute, you can cash checks or bills of exchange and you can enter movements on the cash account that is not related to either AP nor AR ledgers. Any transaction that affect the balances of cash accounts, can be entered in the Mixed Payment.
The following exercises will not cover confirmation (acknowledgement) of payment orders or cashing of bills or checks, as those exercises are included in each of those processes.
In the following exercises, you will enter payment transactions one at a time, in the same Mixed Payment. When the Mixed Payment is approved, a voucher will be created including all these payment transactions. If you would like to see how each exercise is posted, you can approve the Mixed Payment after each exercise, and then start the next exercise by initiating a new Mixed Payment.
To receive a customer payment in a currency other than the invoice or accounting currency, change the currency to the payment currency when entering the mixed payment transaction line.
To see the difference between using balance methods Detailed and Group, go through the following exercises twice, once for each balance method.
Purpose: The purpose of this exercise is to enter a customer payment and match it with several invoices.
Windows:
Mixed Payment
Note: If you are entering information from a bank statement document, you probably have an opening and closing balance on the document. Those balances can be entered, in order to see the "remaining amount" during entry of the transactions. If you, as in this case, leave the balance fields empty, the "remaining amount" will just add up during transaction entry.
You have now completed the first payment transaction in the Mixed Payment, and can continue with the next exercise.
Note: In order to receive payment in a currency other than the invoice currency or the accounting currency, change the currency in the transaction row to the payment currency after selecting the Payment Type.
Purpose: The purpose of this exercise is to enter a customer payment and match it with one invoice/installment.
Windows:
Mixed Payment
You have now completed the second payment transaction in the Mixed Payment, and can continue with the next exercise.
Purpose: The purpose of this exercise is to enter a payment received from a customer without knowing what is being paid for. Therefore, we will enter the payment without matching with invoices.
Windows:
Mixed Payment
Note: Since this payment is not matched with invoices/installments and only the customer is specified, a Payment on Account will be created when the Mixed Payment is approved. This Payment on Account can later be offset with customer invoices/installments.
You have now completed the third payment transaction in the Mixed Payment, and can continue with the next exercise.
Purpose: The purpose of this exercise is to enter a received amount of money to our Cash Account without knowing where it came from.
Windows:
Mixed Payment
Note: Since this payment is not matched with invoices/installments, nor is any customer identity specified, a Parked Customer Payment will be created when the Mixed Payment is approved. This Parked Payment can later be offset with customer invoices/installments.
You have now completed the fourth payment transaction in the Mixed Payment, and can continue with the next exercise.
Purpose: The purpose of this exercise is to enter a new difference item for a customer without matching invoices, e.g. for a return debit note.
Windows:
Mixed Payment
Note: The tax code used for the new difference item will not create tax postings when approving the mixed payment. The tax code is only needed for tax reductions if the new item is not fully paid, e.g. if write-off, discount or deductions are applied later.
Note: You have now completed the fifth payment transaction in the Mixed Payment, and can continue with the next exercise.
Purpose: The purpose of this exercise is to enter an advance payment made to a supplier to start the work we have ordered. The supplier will later send an invoice, which we will then match with this Payment in Advance. A pre-posting shall be added to the payment in advance.
Windows:
Mixed Payment
Note: This Payment in Advance which will be created when the Mixed Payment is approved can later be offset with supplier invoices/installments.
Note: You have now completed the sixth payment transaction in the Mixed Payment, and can continue with the next exercise.
Purpose: The purpose of this exercise is to enter a new difference item for several matched supplier invoices, and instantly write-off the difference item.
Windows:
Mixed Payment
Note: You have now completed the seventh payment transaction in the Mixed Payment, and can continue with the next exercise.
Purpose: The purpose of this exercise is to enter a General Payment, e.g., a receipt including VAT.
Windows:
Mixed Payment
You have now completed the eighth payment transaction in the Mixed Payment, and can continue with the next exercise.
Purpose: The purpose of this exercise is to enter a General Payment that should be posted to several cost accounts.
Windows:
Mixed Payment
You have now completed the ninth payment transaction in the Mixed Payment, and can continue with the next exercise.
Purpose: The purpose of this exercise is to enter a Bank Fee Payment, e.g., a currency exchange fee.
Windows:
Mixed Payment
You have now entered the tenth payment transaction in the Mixed Payment, so it is time you approve it. This is done in the next exercise.
Purpose: The purpose of this exercise is to approve a Mixed Payment.
Windows:
Mixed Payment
Note: Take a look at the difference between Detailed and Group balance methods. If you have used Detailed as the balance method, you should for example see eight Cash Transactions and eight postings to the Cash account. If you used Group, you should only see three Cash Transactions and three postings to the Cash account. One per payment created.
Purpose: The purpose of this exercise is to print a difference notice for the customer difference item created when approving the Mixed Payment. The difference notice can be sent to the customer.
Windows:
Difference Notice Proposals
Purpose: The purpose of this exercise is to cancel a Mixed Payment.
Windows:
Mixed Payment
Note: The Approve Mixed Payment dialog box will appear on the screen, showing you information about the voucher date, accounting period, user group, and voucher type.
Note: Another dialog box will appear showing the identities of the Voucher and the Rollback Payments created. Note that there are three payments created, one customer payment, one supplier payment, and one general payment.
Note: The status of the Mixed Payment has now changed from Approved to Canceled.
Purpose: The purpose of this exercise is to copy a canceled Mixed Payment and create a new Mixed Payment.
Windows:
Mixed Payment
Note: In order to see the difference between using Detailed and Group balance methods, go through the above exercises again (or at least some of them) with a balance method you did not previously use. If you want to pay the same invoices/installments, cancel the previous Mixed Payment first to re-open the invoices/installments.
Purpose: The purpose of this exercise is to un-match invoices paid by given payment transaction. This operation is possible in an approved cash box. The parked payment is created for the total of the matched invoices. The invoices are re-opened for payment. This function should be used when the wrong invoice has been matched.
Windows:
Mixed Payment
Purpose: The purpose of this exercise is to check whether selected Mixed Payments include payments with installments which have reached a reminder level, and is defined as collection levels in the reminder template of the installment.
Windows:
Mixed Payment
Windows:
Mixed Payments Analysis
Purpose: The purpose of this exercise is to show you how to enter different types of payments using a mixed payment which can be used for multi-company payments. Multi-company payments can be created using a mixed payment for customer and supplier payments if ledger items of another company other than the current payment company are matched against the payment/new items. The cash receipt or cash disbursement affects the cash account of the current payment company only. Ledger items of one or more companies can be included in the matching of each payment transaction triggering the creation of vouchers and payments in the affiliated companies when the mixed payment is approved. You can also enter manual postings against other companies using direct cash transactions. These direct cash transactions will result in payments and vouchers in the affiliated companies.
Purpose: The purpose of this exercise is to enter and approve a customer payment which has matching customer invoices from several companies at the same time.
Windows:
Mixed Payment
Open the Mixed Payment window and click New.
Enter the cash account in the Cash Account field or select it from the list of values. This cash account is connected to the company of the mixed payment and all payment transactions increases or reduces based on this cash account in the mixed payment company, regardless of the companies to which the invoices belongs.
Select a method for the Balance Method field, if the method is not displayed by default .
Click the Transactions tab.
Create a new line the Transactions tab.
Select Enter Customer Payment for the Payment Transaction Type field.
Enter the ID of the customer in the Payer/Payee field or select the customer from the List of Values.
Enter a positive payment amount in the Amount field that will cover two invoices/installments of the customer. One of the invoices/installments for matching should be from the company for which you enter the mixed payment. The second invoice/installment should be of another company which is different to the mixed payment company. The payment amount of the transaction line will increase the cash account in the company to which you enter the entire mixed payment.
Save the payment transaction.
Highlight the transaction line and click Sel.Batch in the Matching Transactions sub tab to open the Select Batch of Invoices dialog box.
Select the Multi-Company check box if it is not selected. Note: The setting of the Multi-Company check box is system defined and is displayed by default.
Click Populate. All open ledger items of the payer are displayed in the Select Batch of Invoices dialog box. The company to which the ledger items/invoice installments belong is displayed in the Company field.
Select two installments, one should belong to the cash receiving company and the second installment to another company. Click OK. The invoices/installments are copied to the Matching Transactions sub tab. The company to which each ledger item/installment belongs is displayed in the Company field.
If there is a remaining amount after matching, modify the payment amounts for the installments or change the total payment amount for the customer on the payment transaction.
Approve the Mixed Payment.
To analyze the vouchers created for the multi-company payment in Mixed Payment:
To analyze the payments created for the multi-company payment in Mixed Payment:
Note: To analyze the payments and voucher created you can also use the Multi-Company Voucher Details Analysis, Cash Account Balances Analysis and Mixed Payment Analysis windows.
Note: To analyze the effects on your customers' balances and open items, use the Customer Analysis window.
Purpose: The purpose of this exercise is to enter a payment received from a customer without knowing what is being paid for. As a result a payment on account will be created for the customer in another company.
Windows:
Mixed Payment
Open the Mixed Payment window and click New.
Enter the cash account in the Cash Account field or select it from the list of values.
Select a method for the Balance Method field, if necessary.
Create a new record in the Transactions tab.
Select Enter Customer Payment for the Payment Transaction Type field.
In the Company field, enter the ID of the other company for which the new payment on account will be created. The ledger posting of this item will be created for the specified company and also the customer's balance will be affected when approving the mixed payment for this company.
Enter the ID of the customer in the Payer/Payee field or select the customer from the List of Values.
Enter a positive payment amount in the Amount field. This amount will increase the balance of the cash account in the company for which you enter the mixed payment. This amount affects the customer's balance in the other company you have specified in step 6.
Save the payment transaction and approve the Mixed Payment.
Note: To Analyze the vouchers and payments created for the multi-company payment in mixed payment use the Mixed Payment Vouchers, Customer Payment Analysis, Multi-Company Customer Payments Analysis windows.
Note: To analyze the payments and voucher created you can also use the Multi-Company Voucher Details Analysis, Cash Account Balances Analysis and Mixed Payment Analysis windows.
Note: To analyze the effects on your customers' balances and open items, use the Customer Analysis window.
Purpose: The purpose of this exercise is to create a new difference item within a payment for a customer without matching invoices. This new ledger item will be created in another company.
Windows:
Mixed Payment
Create a new mixed payment in the Mixed Payment window.
Enter the cash account and enter a balance method, if necessary.
In the Transactions tab of the Mixed Payment window, create a new line and click Enter Customer Payment in the Payment Transaction Type list.
Enter the ID of the other company in the Company field in which the new difference item for the customer is created. In the specified company, the ledger postings will be created for the new item and the customer's balance will changed when the mixed payment is approved for this company.
Enter the ID of customer in the Payer/Payee field.
Enter a positive amount as the new item. This will be credited to the customer in the other company you have specified on the payment transaction in step 4. The amount will increase the balance of your cash account in the company for which you enter the mixed payment.
Select the New Item check box. The New Item Invoice Type field has the customer difference item invoice type from the company, and the Series ID field has the series ID connected to this invoice type. Invoice Type and series ID are from the company you have entered for the payment transaction in step 4.
If the series ID has no automatic numbering you have to enter a value in the Inv/Prepaym No field.
Save the payment transaction. A
new record is automatically created in the
Matching Transactions sub
tab with the tax code and payment terms. This new
item is also linked to the other company which you have entered on the
payment transaction.
Note:
It is not possible to save the payment transaction if the customer has no
default tax code defined in basic data. In this case the new item has to be created in the
matching transactions and the tax code has to be entered manually.
Change the suggested tax code, payment terms and pay term base date if applicable. This information is connected to the company of the matching transaction which is in this example the other company.
Enter an internal text to explain the reason for creating this item in the Text field of the new item. This text will be visible as notes on the ledger item after approving the mixed payment, and can be printed in the difference notice or in reminders.
Save the changes and approve the mixed payment.
Note: To Analyze the vouchers and payments created for the multi-company payment in mixed payment use the Mixed Payment Vouchers, Customer Payment Analysis, Multi-Company Customer Payments Analysis windows.
Note: To analyze the payments and voucher created you can also use the Multi-Company Voucher Details Analysis, Cash Account Balances Analysis and Mixed Payment Analysis windows.
Note: To analyze the effects on your customers' balances and open items, use the Customer Analysis window.
Purpose: The purpose of this exercise is to create a supplier payment matching for an invoice/installment of another company
Windows:
Mixed Payment
Create a new mixed payment in the Mixed Payment window.
Enter the cash account and enter a balance method, if necessary.
In the Transactions tab of the Mixed Payment window, create a new line and click Enter Supplier Payment in the Payment Transaction Type list.
Enter the other company for which you want to match the invoice/installment or prepayment in the Company field or select a company from the List of Values.
In the Series ID field enter the series ID for the invoice to be paid, or use the List of Values.
In the Inv/Prepaym No. field, enter the number of the invoice to be paid or use the List of Values.
In the Installment ID field, enter the number of the installment to be paid or use the List of Values.
The supplier identity and amount from the invoice/installment are displayed in the payment transaction. This will be credited to the supplier in the other company to which the selected invoice/prepayment is connected. This amount reduces the balance of your cash account in the company for which you enter the entire mixed payment.
Save the payment transaction.
Approve the mixed payment.
Note: As an alternative to step 4-7;If you have cleared the Company field, the List of Values for the Inv/Prepaym No. field will display open items of several other companies. After the open item is selected from the List of Values, the Company field will automatically display the company of the open item.
To analyze the vouchers created for the multi-company payment in Mixed Payment:
To analyze the payments created for the multi-company payment in mixed payment:
Note: To analyze the payments and voucher created you can also use the Multi-Company Voucher Details Analysis, Cash Account Balances Analysis and Mixed Payment Analysis windows.
Note: To analyze the effects on your supplier's balances and open items, use the Supplier Analysis window.
Purpose: The purpose of this exercise is to enter a new difference item for a matched supplier invoice, and instantly write-off the difference item.
Windows:
Mixed Payment
Create a new mixed payment in the Mixed Payment window.
Enter the cash account and enter a balance method, if necessary.
In the Transactions tab of the Mixed Payment window, create a new line and click Enter Supplier Payment in the Payment Transaction Type list.
Enter the ID of the supplier in the Payer/Payee field.
Enter an amount that is less than the invoice/installment for this supplier. The amount is credit (negative), as the supplier payment typically has a negative effect on the cash account. The amount reduces the cash in the company for which you enter the entire mixed payment.
Save the payment transaction.
Select the record you have saved. The Matching Transactions sub tab will be enabled.
Create a new record in the Matching Transactions sub tab.
Enter the ID of the other company in the Company field for which you want to match the invoice/installment.
Enter the invoice in the Series ID and Inv/PrePaym No fields.
Save the matching. The company on the payment transaction is changed to the other company.
Create a new record in the Matching Transactions section of the window. The Company field displays new lines by default for the company of the payment transaction, in this case the other company.
Select the New Item check box: The New Item Invoice Type field will be displayed with the supplier difference item invoice type from the company. The Series ID field will be displayed with the series ID connected to this invoice type. Invoice type and series ID are from the company specified in the matching transactions row.
The tax code and payment terms will be suggested using supplier basic data connected to the company of the
matching transactions row.
Note: The tax code will be
used for the tax reduction of the write-off in a VAT regime.
Enter the remaining amount (with a positive(+) sign when you debit it to the supplier) in the Pay Amount in Pay Curr field.
In the Write-off Code field, enter your new difference code DE (created in the basic exercises) or select it from the List of Values.
Enter the amount of your new difference item in the Write-off Amount field.
Enter an internal text to explain the reason of the write-off in the Text field of the new item. This text will be visible as a note(s) on the ledger item after approving the mixed payment.
Save the information.
Approve the mixed payment.
Note: As an alternative to step 9-10; If you have cleared the Company field, the List of Values for the Inv/Prepaym No. field will display open items of several other companies. After the open item is selected from the List of Values, the Company field will automatically display the company of the open item.
Note: To analyze the vouchers and payments created for the multi-company payment in mixed payment. Use the Mixed Payment Vouchers, Supplier Payment Analysis, Multi-Company Supplier Payments Analysis windows.
Note: To analyze the payments and voucher created you can also use the Multi-Company Voucher Details Analysis, Cash Account Balances Analysis and Mixed Payment Analysis windows.
Note: To analyze the effects on your customers' balances and open items, use the Supplier Analysis window.
Purpose: The purpose of this exercise is to enter an advance payment made to a supplier in another company. The payment in advance is created in another company with pre-postings and the payment is created in the paying(own) company.
Windows:
Mixed Payment
Create a new mixed payment in the Mixed Payment window.
Enter the cash account and enter a balance method, if necessary.
In the Transactions tab of the Mixed Payment window, create a new record and click Enter Supplier Payment in the Payment Transaction Type list.
In the Company field enter the ID of the other company in which the payment in advance should be created. The ledger posting of this item will be created for the specified company. The supplier's balance of this company will be affected when approving the mixed payment.
In the Payer/Payee field, enter the identity of the supplier to whom the money was sent.
Enter the paid amount. The amount is credit, as the supplier payment typically has a negative effect on the cash account. The amount reduces the cash in the company for which you enter the entire mixed payment.
Select the Payment in Advance check box.
Enter your new tax code in the Tax Code field.
The tax amount will now be calculated and displayed according to the tax code, defined in the company which is entered on the payment transaction.
In the code part fields, enter a code part value for code part B as a pre-posting. Note: The available code part values are connected to the company on the payment transaction.
Save the payment transaction and approve the mixed payment.
Note: To analyze the vouchers and payments created for the multi-company payment in mixed payment use the Mixed Payment Vouchers, Supplier Payment Analysis, Multi-Company Supplier Payments Analysis windows.
Note: To analyze the payments and voucher created you can also use the Multi-Company Voucher Details Analysis, Cash Account Balances Analysis and Mixed Payment Analysis windows.
Note: To analyze the effects on your customers' balances and open items, use the Supplier Analysis window.
Purpose: The purpose of this exercise is to enter and post a general payment, e.g., a receipt including VAT. The other company will be charged with the costs and taxes.
Windows:
Mixed Payment
Create a new mixed payment in the Mixed Payment window.
Enter the cash account and enter a balance method, if necessary.
In the Transactions tab of the Mixed Payment window, create a new record and click Direct Cash Payment in the Payment Transaction Type list.
In the Company field enter the ID of the other company which that will be charged with the costs.
Enter the paid amount, which is a negative amount. This amount reduces the cash account in the company for which you enter the mixed payment. This amount includes the cost and the tax amount, and will be posted in the other company specified in step 4.
In Tax Code field and enter your new tax code (the one with Payment tax method).
The tax amount will now be calculated and displayed according to the tax code defined in the company which is entered in the payment transaction.
In the Account field and enter a cost account.
Save the payment transaction and approve the mixed payment.
To analyze the vouchers created for the multi-company payment in Mixed Payment:
To analyze the payments created for the multi-company payment in mixed payment:
Note: To analyze the payments and voucher created you can also use the Multi-Company Voucher Details Analysis, Cash Account Balances Analysis and Mixed Payment Analysis windows.
Purpose: The purpose of this exercise is to enter a general payment to be posted to several cost accounts.
Windows:
Mixed Payment
Create a new mixed payment in the Mixed Payment window.
Enter the cash account and enter a balance method, if necessary.
In the Transactions tab of the Mixed Payment window, create a new line and click Direct Cash Payment in the Payment Transaction Type list.
Enter the paid amount (this is a negative amount). This amount reduces the cash account in the company for which the entire mixed payment is entered.
Save the payment transaction.
Select the payment transaction line in order to enable the Manual Posting sub tab. You can enter several postings in this sub tab for the payment.
Select Gross Amount Entry from the list as the amount method. This means that the amount entered for each line will be taken as gross amounts when it comes to calculating the tax amount.
Create a new record and enter another company in the Company field and complete the the manual posting by entering an account and a tax code.
Enter another manual posting for the other company but for a different account.
Check the remaining amount in the Balance field and adjust your amounts in order to split the payment amount between the two lines correctly.
Save the payment transaction and approve the mixed payment.
Note: Analyze the vouchers and payments created for the multi-company payment in mixed payment and use the Mixed Payment Vouchers, General Payment Analysis, Multi-Company General Payments Analysis windows.
Note: To analyze the payments and voucher created you can also use the Multi-Company Voucher Details Analysis, Cash Account Balances Analysis and Mixed Payment Analysis windows.