IMPORTANT |
It is extremely important that you set up and work within your own company and with your own customer 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 show you how to use the parameters at the company level that control the customer payment process.
Windows:
Company
Discount Management | Supplier Payment Proposal Parameters | Posting Parameters |
Check Boxes Based on Required Processes | Check Boxes Based on Required Processes | Net |
Percent Tolerance | Amount Tolerance | Tolerance Currency |
5 | 10 | Your own accounting currency is displayed |
Purpose: The purpose of this exercise is to show you how to set up payment information for a customer. Customer information is specified in several tabs. Some tabs are general and are used by all components, and some are component-specific. When you open the Customer window, you will see both the general tabs and one tab for each installed component. To send reports to customers it is required to set up AR customer contact information in the Payment tab in the Customer window.
Windows:
Customer
Percent Tolerance | Amount Tolerance | Tolerance Currency |
10 | 20 | Your own accounting currency is displayed. |
Note: Customer tolerance limits have a higher priority than company values. The smallest percentage or amount will be the limit.
Way of Payment | Description | Default |
EZEUR | Description for EZEUR will be displayed | Unchecked |
Payment Method | Address Id | Description | Payee Bank Account | Default | Payee Bank Code |
EZEUR (displayed) | 1 | Dir Deb EZ addr 1 | 1234567 | Checked | 78055050 |
Note: Your customer is now set up and ready for Direct Debiting.
Purpose: The purpose of this exercise is to view the posting types used by the customer payment process.
Windows:
Posting Control
Posting Type | Description | Code Part Name | Control Type |
PP1 | Cash Transaction | Account | PC2, Cash Account |
PP4 | Payment Fee | Account | AC1, Fixed Value |
PP3 | Cash Discount Disbursed | Account | AC1 Fixed Value |
PP6 | Tax Reduction for Disbursed Cash Discount | Account | AC1 Fixed Value |
PP8 | Customer Claims, Pre-Payment | Account | IC2 Customer Group |
PP10 | Parked Payment | Account | AC1 Fixed Value |
PP11 | Additional Payment | Account | AC1 Fixed Value |
PP12/PP13 | Currency Loss/Profit | Account | AC1 Fixed Value |
PP17 | Write-Off, Customer Claims | Account | PC4 Write-Off Code |
PP34 | Tax Reduction for Write-Off | Account | PC4 Write-Off Code |
PP19 | Tax Disbursed, Paid | Account | AC7 Tax Code |
PP23 | Intercompany Due From | Account | AC1 Fixed Value |
PP22 | Intercompany Due To | Account | AC1 Fixed Value |
PP28 | Open Customer Checks | Account | AC1 Fixed Value |
PP32 | Unmatched Customer Checks | Account | IC2 Customer Group |
PP35 | Customer Check, Interim Cash | Account | AC1 Fixed Value |
PP27 | Open Customer Bill of Exchange | Account | AC1 Fixed Value |
PP31 | Unmatched Customer BoE | Account | IC2 Customer Group |
PP24 | Customer BoE, Interim Cash | Account | AC1 Fixed Value |
PP25 | Customer BoE, Cashed in Advance | Account | AC1 Fixed Value |
PP36 | Customer Claims, Payment in Advance | Account | AC1 Fixed Value |
PP38 | Output Tax, Payment in Advance | Account | AC1 Fixed Value |
PP40 | Contra Account, Output Tax, Payment in Advance | Account | AC1 Fixed Value |
PP42 | Deduction Rule | Account | AC1 Fixed Value |
PP43 | Tax Reduction Disbursed, Deduction | Account | AC1 Fixed Value |
PP64 | Endorse Customer BoE | Account | AC1 Fixed Value |
PP65 | Customer BoE Early Settlement, Discounted Fee | Account | AC1 Fixed Value |
Purpose: The purpose of this exercise is to set up tax codes. The use of the tax code types depends on whether the company uses U.S. sales and use tax or value-added tax (VAT).
Windows:
Tax Codes
Tax Code | Description | Percentage | Valid From | Valid To | Tax Type | Tax Method Tax Received | Tax Method Tax Disbursed | Deductible % |
Enter a code | Enter a description | 4 | Beginning of the year | End of the year | Tax | Invoice Entry | Invoice Entry | 100 |
Alternatively, if your company uses U.S. sales and use tax, enter a new tax code with the information shown in the table below.
Tax Code | Description | Percentage | Valid From | Valid To | Tax Type | Tax Method Tax Received | Tax Method Tax Disbursed | Deductible % |
Enter a code | Enter a description | 6 | Beginning of the year | End of the year | Sales Tax | Invoice Entry | Invoice Entry | 100 |
Note: If you add a tax code, you might need to add additional information in Posting Control. If Tax Code is used as a control type for the tax postings, you must add a line for the new tax code and connect it to an appropriate account.