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.
#Credit wizard v1.1 manual#
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.
Explain the consequences of each step on the involved G/L accounts.List the steps of the payment process and perform them in SAP Business One including: Incoming Payments, Outgoing Payments, Deposits and the Payment Wizard.After completing this topic, you will be able to:
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