Invoice to bank

[Former Member]

We use SAP B1 Italian version.

we have a bank facility named : Invoice discounting.

we give the invoice to the bank, t

[Former Member]

We use SAP B1 Italian version.

we have a bank facility named : Invoice discounting and the procedure we use is the following:

1) we issue invoice to our customer with payment terms 90 days and payment system Eletronic transfer.

2) we send the invoice to our bank, they anticipate to us the 100% of the invoice amount and wait the payment from the customer.

3) on invoice due date, if the customer pay to us they take the amount anticipated back and credit our account with the payment from the customer.

3/bis) on invoice due date, if the customer DO NOT pay they take back the amount from our bank account.

How we can manage it considering that the customer have not really paid till the due date ?

Giuseppe

[former_member583013]

I am not sure if there is anything specifically for this in B1 Italian localization but this is how I would suggest handling this.

The money you get from your bank before the actual payment from the customer is like a temporary advance or liability.

You would create a new account in the Liability drawer (may be call it Bank Invoice advance account)

Whe the Bank transfers the money to you bank account create a JE

Debit Your Bank Account

Credit Bank Invoice advance account (liability)

When the Bank credits your account back....You create a Reverse Journal Entry

Suda

[Former Member]

Thank's Suda,

but as you suggest I will not trace which invoice has been sent to the bank or not, I need to take trace of it.

Giuseppe

[former_member583013]

Absolutely. You can use the Reference fields to make note of this and then Run a report of this Bank Invoice Advance GL and you should be able to see it all

NOTE: I have deleted the other thread as it was a Duplicate

Suda

[jitin_chawla]

Hi,

Its very difficult to understand the localisation specific scenarios., however, test this in the TEST enviorment :

Create the Incoming Payment as normal. However, in that Incoming Payment map the Account (Temp Bank/Advance from Bank).

When the Payment is received from the customer you can book the amount from the Temp Bank/Advance from Bank to the original Bank Account.

Hope it helps.

Regards,

Jitin

[former_member583013]

Jitin:

When you first post the Incoming Payment on the Customer, it is going to Credit the customer where as there is no guarantee that the customer is going to Pay and Crediting the Customer might not be valid in that case and also legal (in some localizations).

That is why I was not recommending this process.

Suda

[jitin_chawla]

Hi Suda,

Yes you are right. I guess I forgot that part where there can be No payment as well.

Thanks for notifying.

However, asked to test in Test Enviorment.

rgds,

Jitin

[Former Member]

Please make your question more clear. Do you mean you need to give bank a certain discount for all your invoices?

Thanks,

Gordon

[former_member583013]

Please complete your question..what are you looking for