IMPORTANT |
It is extremely important that you set up and work within your own company and with your own supplier 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 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 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 |
Purpose: The purpose of this exercise is to show you how to set up payment information for a supplier. Supplier information is specified on several tabs. Some tabs are general and are used by all components, whereas others are component specific. When you open the Supplier window, you will see both the general tabs and one tab for each installed component. To send reports to suppliers it is required to set up AP supplier contact information in the Payment tab in the Supplier window.
Windows:
Supplier
Other Payee | Payment Advice | Payment Priority | Netting Allowed | Blocked for Payment | Payment Method Rule Id |
Blanc | Depending on the Format | 1 | Cleared | Cleared | Blanc |
Payment Method | Description | Default |
BGF | Description for BGF is displayed | Cleared |
CHK | Description for CHK is displayed | Cleared |
SUPBOE | Description for SUPBOE is displayed | Cleared |
Payment Method | Address Id | Description | Receivers Account | Default | Swift Code |
BGF is displayed | 1 | Bank Giro Address 1 | 55555 | Selected | 1234DE5678 |
Note: The other payment methods do not require electronic payment addresses as those are "document" methods, checks and bills of exchange..
Purpose: The purpose of this exercise is to show you how to view the posting types used by the supplier 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 |
PP2 | Cash Discount Received | Account | AC1 Fixed Value |
PP5 | Tax Reduction for Received Cash Discount | Account | AC1 Fixed Value |
PP7 | Supplier Debts, Prepayment | Account | IC1 Supplier Group |
PP9 | Parked Payment | Account | AC1 Fixed Value |
PP12/PP13 | Currency Loss/Profit | Account | AC1 Fixed Value |
PP16 | Write-Off, Supplier Debts | Account | PC4 Write-Off Code |
PP33 | Tax Reduction for Write-Off | Account | PC4 Write-Off Code |
PP18 | Tax Received, Paid | Account | AC1 Fixed Value |
PP23 | Intercompany Due From | Account | AC1 Fixed Value |
PP22 | Intercompany Due To | Account | AC1 Fixed Value |
PP21 | Open Supplier Checks | Account | AC1 Fixed Value |
PP30 | Unmatched Supplier Checks | Account | IC1 Supplier Group |
PP26 | Open Supplier Bill of Exchange | Account | AC1 Fixed Value |
PP29 | Unmatched Supplier BoE | Account | IC1 Supplier Group |
PP37 | Supplier Debts, Payment in Advance | Account | AC1 Fixed Value |
PP39 | Input Tax, Payment in Advance | Account | AC1 Fixed Value |
PP41 | Contra Account, Input Tax, Payment in Advance | Account | AC1 Fixed Value |
PP58 | Stamp Duty | Account | AC1 Fixed Value |
PP59 | Stamp | Account | AC1 Fixed Value |
Purpose: The purpose of this exercise is to show you how to set up tax codes. The tax code type that you use depends on whether the company uses U.S. sales tax or 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 |
If your company uses U.S. sales tax, enter a new tax code with the following information:
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 the 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.