Netting of AP/AR—Key Exercises
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. |
Basic Data Setup
Purpose: The purpose of this exercise is to show you how to
set
up the basic data required for running this particular functionality.
Windows:
Customer
- Enter a new customer according to the exercise.
- Enter a customer ID and an association number that is unique to you.
- Save the information.
General exercise for Customer
Purpose: The purpose of this exercise is to show you how to
set
up the basic data required for running this particular functionality.
Windows:
Supplier
- Enter a new supplier according to the exercise.
- Enter a supplier ID and then the same association number that you have on
your customer. A message appears indicating that another business partner with the same
association number is already registered. You are prompted to indicate
whether you want to use the same
association number.
- Click OK.
- Click the
Payment tab. Select the Netting Allowed
check box.
- Continue
entering the supplier.
- Save the information.
General exercise for Supplier
Required Data
Purpose: The purpose of this exercise is to show you how
to enter supplier invoices to be used in the exercises below. The invoices/installments must
also be authorized for payment.
- Enter a supplier invoice.
General exercise for Arrival
Entry Supplier Invoice
General exercise for
Post Supplier Invoice
General exercise for Authorize
Supplier Invoice for Payment
Purpose: The purpose of this exercise is to show you how to
enter a supplier payment that is not matched with any supplier invoice/installment.
Windows:
Supplier Payment
- Open the Supplier Payment window, and create a new record.
- In the
General tab, enter a cash account, or select one from
the List of Values.
- In the lower portion of the window, create a new record.
- In the Payment Amount field, enter the amount of the payment.
- Click the
Transaction tab, and create a new record.
- Select the checkbox New Payment On Account.
- In the Identity field, enter your supplier.
- In the Amount field, enter the same amount you want to pay.
Note: The remaining amount in payment currency should now
be zero.
- Save the information.
- Payment information is displayed in the Message window. Confirm by
clicking OK.
- Return to the
General tab. The voucher type and related
voucher number are now displayed.
Purpose: The purpose of this exercise is to show you how to
enter a
customer invoice to be used for netting.
Windows:
Manual Customer Invoice
- Enter a customer invoice.
General exercise for Manual Customer Invoice
Purpose: The purpose of this exercise is to show you how to
set
up the basic data required for running this particular functionality.
Windows:
Customer Payment
- Enter a new parked customer payment.
General exercise for Customer Payment
Main Exercise
Netting of AP/AR
Purpose: The purpose of this exercise is to show you how to
create a
netting between customer ledger items and supplier ledger items.
Windows:
Netting
- Open the Netting window, and create a new record.
- Enter the ID of your supplier, or select it from the List of Values. If you do not use Non-Restricted Netting, the system automatically displays the customer ID for the netting.
- If Non-Restricted Netting is used, enter
the identity of the customer to be used for the netting, in the Customer
ID field.
- Enter the cash account used for netting. The default payment currency
appears, and the voucher date is the same as the
payment date.
- Click the
Supplier Invoices/Prepayments tab.
- Right-click and then click Select Batch to view open invoices/installments for the supplier. Populate if needed to get invoices/installments displayed.
-
Select your invoice/installment and your payment on account.
- Click the
Customer Invoices/Prepayments tab without saving.
- Right-click and then click Select Batch to view open invoices/installments for the customer.
Populate if needed to get invoices/installments displayed.
-
Select your invoice/installment and the parked customer payment.
- Verify that the value in the Remaining Amount on Payment field is zero. If not,
adjust the paid amount for one of the ledger items. In this case, there will
be a
remaining amount on the ledger item for which the amount was changed.
- Save your changes. An information window appears with netting information.
- Click OK to confirm.
Note: Instead of using the Select Batch function to
find the ledger items, you
can manually enter each line, entering the series ID, the number and the
Installment ID for the ledger
items to be netted.
Purpose: The purpose of this exercise is to show you how to
cancel a
netting between customer ledger items and supplier ledger items.
Windows:
Cancel Netting
- Open the
Cancel Netting window and populate.
- Highlight the netting you want to cancel.
- Right click and then click Cancel.
- A window is displayed with voucher information. Click OK to confirm.
- A message is now displayed with payment information. Click OK.