Difference in Customer account statement and collections

[Former Member]

Kindly clarify my doubts about customer account steatement and Collections. basically whats the difference in the two and what are the standard T_codes for these two.

thanks

anya

[Former Member]

Dear narendra,

your answers are helpful but we are using ver 4.7 so i couldn't relate to Collection process.

Can any body explain this in simple manner.

[Former Member]

Any report to check customer collections.

[Former Member]

HI anya

The sales representative initiates collections from the Activity List screen. A collection activity is added to the Activity List when an invoice is created for a to-be-collected customer. Additionally, sales representatives can perform collections by creating new collection activities.

When collection is carried out, the system displays a list of all open invoices. From this screen, the sales representative selects the invoices that are to be assigned to the payment. He then selects collection and chooses the payment type. The mobile device only displays those types that are valid for the current customer.

Partial payments are supported; final matching happens in the backend. When the sales representative confirms collection, he is prompted to print a collections receipt. Collections just like deliveries, invoices, and orders are legal documents, and, therefore, cannot be changed after they have been confirmed

You can use the service functions in Media Product Sales to manage returns, subsequent deliveries, and credit memos.

■ A customer reports the return quantity for a media issue and receives a corresponding credit memo.

■ A customer reports the expected return quantity in advance. This return quantity can be transferred directly to quantity planning for the next issue.

■ The printing works reports that the full delivery quantity for a customer was not produced. The customer receives a credit memo for the correction to the quantity.

■ After receiving a delivery, a customer reports additional requirements and is sent a corresponding subsequent delivery.

■ A customer is granted a quantity-related credit memo for increased handling costs for an unusually large special edition.

Please note that you must have made the Customizing settings for updating quantities delivered before you can use the service functions.

For further details look at the link below

http://help.sap.com/erp2005_ehp_02/helpdata/en/f3/00703c11cece0ae10000000a11402f/frameset.htm

Reward if useful to u

[Former Member]

HI ANYA

T-code: F.27

Definition

An account statement and open item list are two types of correspondence. They differ with respect to the information they contain and the way it is displayed. Unlike an open item list, an account statement displays all items in a specified period along with the balance carried forward. The open item list merely displays the open items for a certain key date.

Type of correspondence that your company sends to its customers.

The system includes a SAPscript form that you can use for customer account statements for the Philippines, form F140_CUS_STAT_P1. You can modify this template to meet your company's requirements. To do so, from the SAP Easy Access screen, choose Tools ® Form printout ® SAPscript ® Form.

Structure

The following information is displayed in the template for the customer account statement:

Account balance at the start of the selected period

Open item list as of the key date, including the total

It is sorted by transactions with or without special G/L indicators, currency, posting date, and document number.

Account balance at the end of the selected period

Cleared item list between selected key dates

It is sorted by currency, posting date, and cleared item document number.

Withholding tax list between selected key dates

It is sorted by withholding tax type, posting date, and document number.

Aging in 0, 30, 60, 90, and 120 days

Integration

You can print the customer account statement.

Note the following restrictions regarding customer statements:

You cannot create statements for one-time customers.

In the case of customer head offices with local branches, customer statements contain the address of the head office and not that of the branch.

The account statement can be created for your customers or vendors is an extract from the customer account which enables him to check the items there or is merely for information purposes. The account statement displays the balance carried forward, all items in the chosen period and the closing balance of the account.

The open items list is a special form of account statement. It is also sent to the customer for verification or information purposes. Occasionally, the list is also used as a reminder letter. The open items up to the chosen key date are displayed in this list.

Both letters contain the document number or reference document number, the document date, the document type, the currency and the amount for every item as well as the balance of the open items at the key date. The account statement may also contain the clearing document number. If branches were included in the letter of a head office, their addresses are listed at the end of the letter.

The layout of the letter is determined via a form. Depending on the form used, the letter may also contain, for example, the days in arrears per item at the key date or other information. The form must be defined and stored in the system.

Printing Customer Account Statements

Use

Printing of customer account statements is based on correspondence type SAPP3. Correspondence type SAPP3 is preconfigured to run the RFKORDP3 print program, which is delivered with report variant SAP&SAPP3. You can modify SAP&SAPP3 to meet your company's needs. For example, you can change the aging period and the number of the aging column.

To modify or define a new report variant for the RFKORDP3 print program, in Customizing for Financial Accounting, choose Financial Accounting Global Settings -- Correspondence -- Assign Programs for Correspondence Types. Select correspondence type SAPP3 and choose Environment -- Maintain variants.

Procedure

Printing Individual Account Statements:

Request correspondence type SAPP3 . To do so, from the SAP Easy Access screen, choose Accounting -- Financial Accounting --Accounts Receivable --Account -- Correspondence --Request.

Issue the correspondence request by choosing Accounting -- Financial Accounting -- Accounts Receivable -- Periodic processing -- Print correspondence -- As per request.

Print the customer account statement from the spool file by choosing System -- Own spool requests. Select your spool request and choose print.

COLLECTIONS

Collection is the settlement of receivables due, in particular, bills of exchange.

Collection Account

Definition

A G/L account that the system uses to record checks receivable that you have presented to banks for collection. It denotes that a check has been sent to a bank and is awaiting clearing

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narendran vajravelu