That is, the invoice due date is earlier than or equal to the current date. The system offers you tools to quickly identify the nature of the documents displayed and to aid in your selection.Īn asterisk (*) after the invoice date indicates that the invoice is currently due. In the middle area, you select open transactions for payment from the table by using the checkbox in the Selected column.
The area for entering remarks and displaying totals (at the bottom).The area for selecting open invoices, credit memos and journal entries, and for assigning the payment amounts (in the middle).The window is divided into the following parts:
The windows for incoming and outgoing payments are almost identical. Here we see the debit to the house bank account, and the credit to the customer account. The customer transfers the payment directly to your house bank.
When a customer pays using the Bank Transfer payment means the transaction does not involve a clearing account. On the right, we see the second posting from a Deposit document used to transfer the funds from the clearing account to the house bank account and clear the clearing account.Īnother option for the payment means is the bank transfer. The credit card account is retrieved from the G/L Account field in the credit cards definition window under the banking setup in the Administration module. The system retrieves the cash and the checks received accounts from the G/L Account Determination window. External tools like point of sale system and authorization of credit card transactions can be integrated into the standard process.Debit to a clearing account - cash on hand/ credit card/ checks received.In the example shown we see an Incoming Payment on the left for 105 that generates the following automatic journal entry: The clearing accounts must be predefined during the setup. In other localizations the term could be: “Temporary Account” or “Suspense Account”. Note that the term “clearing” is used in the US localization.
Regardless of the payment means, when you issue a full Incoming Payment the open invoice on the customer account is closed.Ĭash, check, and credit card payments are posted to a clearing or temporary account. We will first look at the three payment means that typically have a two-step process: cash, check and credit card. There are four payment means options for incoming payments. We will begin with incoming payments and look at the payment means, the structure of a payment document and the working methods, and deposits.Ī. Check, Credit Card and Cash Payment Means This topic covers both incoming and outgoing payments. Remember, that you have the Payment Wizard and the Bank Statements Processing options that enable you to create incoming and outgoing payments automatically and semi-automatically.
Note that in this business example we focus on the manual payments process. Then, Maria enters a Credit Card Deposit in SAP Business One to record the payments Visa and Master Card transferred to the company bank account. In SAP Business One, she checks the credit card accounts (Visa and Master Card) to see the amount of credit card Incoming Payments issued in the store point of sale and in the customer service center during the day. She views the company bank account on-line to see the amount of bank transfer Incoming Payments received from customers. In our business example, Maria, the accountant at OEC Computers, deals with incoming payments every afternoon. The customers pay their debts, that is open A/R Invoices, according to agreed payment terms: Cash Basic, Installments, Net 30, etc.