Separate Payment for each Payment Reference in FBZP

[Former Member]

Where do we use "Separate Payment for each Payment Reference" in FBZP under paying co. code. Where is the payment reference field in vendor master. Or is it in vendor transaction FB60, where we put in the invocie number in the reference field and if another invoice from same vendor comes, assign the same refernce numbe rto it, so that both the invocie can be cleared with one payment documnt. But somehow, it does not seem to be logical.

Can someone please expain me this with example.

Thanx

[Former Member]

Hi Sneha,

At the time of entering the Invoice or a credit memo you have to enter a reference no. With the same ref. no. the vendor may ask you to pay the invoices and credit memo vice versa. It it an identification for an invoice or credit memo.

Regards,

Satish Muvva.

[Former Member]

HI,

Invoices and credit memos which have the

same payment reference can be settled with one payment.

[Former Member]

what is payment refernce?

[Former Member]

Hi,

A number assigned by vendors to outgoing invoices. Companies that issue invoices with inpayment slips also print a payment reference number on the slip.

When the customer pays the invoice, it quotes the payment reference number, which enables the vendor to match the payment to the invoice more quickly.

[Former Member]

Sheena

Please read below the help on what payment reference is :(relevant field is BSEG-KIDNO)

Payment Reference

The payment reference contains a key for customer line items which is passed on to the customer in the invoice. The customer should refer to the payment reference when making the payment.

For vendor line items, the key that the vendor passes on in the invoice is entered in the payment reference. In automatic payment transactions, the payment reference can be passed on again to the payee.

Use

When an outgoing payment is made, the payment reference you specify is passed on to the relevant financial institute and from there to the payee.

When you are processing your account statement, you can use the payment reference to determine which items you have paid and then clear them.

Annotations

Payment reference numbers are often used in Finland, Norway, and Sweden. These countries also have rules for the structure of the payment reference. Check digit procedures are used to check that these rules are followed.

Examples

DME Finland: The number '4477' has a check digit of '8' and should be defined as the character string '44778'.

DME Norway: The number '12345678' has the check digit '2' when using the Modulo-10 method, and check digit '5' when using the Modulo-11 method. Therefore, 123456782 or 123456785 are permitted as payment references.

DME Sweden: The number '1234567890' has the check digit '3' and should be defined as the character string '12345678903'. The Modulo procedure used is a form of Modulo-10 with the key '1212121'.

Karthik

Edited by: Karthik Coneru on Sep 16, 2008 11:13 AM

[Former Member]

Can you tell me where can I see this payment reference field in FB60???

[Former Member]

HI,

Goto tcode : FB60 then try to find the field name Reference . you will find this in the basic data tab.

[Former Member]

Hi,

While making the payment run, the system automatically nets off all existing debits against a party and makes the payment. However correspondingly, in case debits pertaining to more than one GR are so netted, the next payments to that party are accordingly larger to that extent. For eg: If a party gets today payment for his bill no: 63, he gets debit of not only 63 but also 64 and 65 along with 63 payment . However his actual payments towards 64 and 65 are yet to be made. This creates an issue with the vendors as they have to reconcile the accounts many times. Here Payment for each payment reference will come into the picture and explore the possibility of netting off bill wise debits with bill wise payments.

Regards,

Satish Muvva.