How to Setup and use Down Payments How To Guide

Transcription

How To Guide
SAP Business One 8.81
How to Setup and use Down Payments Overall Business Processes
SALES, PURCHASING
Related Business Process
SALES, PURCHASING
ACCOUNTING
Responsible Department
SALES, PURCHASING
Involved Departments
ACCOUNTING
Last Updated
25/04/2012
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Page 1 of 10
How To Guide
CONTENTS
Down Payments Setup ....................................................................................................................... 3
Introduction .................................................................................................................................... 3
Define the G/L Accounts ............................................................................................................... 3
Working with Down Payments .......................................................................................................... 5
Down Payment Request ................................................................................................................. 5
Down Payment Invoice .................................................................................................................. 8
Add a Down Payment to Supplier ............................................................................................... 10
Page 2 of 10
How To Guide
Down Payments Setup
Introduction
This document describes how to setup Down Payments received from Customers and Down
Payments made to Suppliers.
Define the G/L Accounts
1. Create new G/L Accounts
• Go to Financials Chart of Accounts.
• Create the G/L clearing Account for Down Payments.
• Create the ‘DPM Clearing Account’ under the Liabilities drawer to collect all Down
Payments received from Customers.
• Create the ‘DPM Interim Account’ under the Liabilities drawer to collect all the Down
Payments received from customers,
• Create the ‘Down Payment Made’ under the Assets drawer to collect all Down Payments
made to Supplies.
• Create the ‘Down Payment Made’ under the Assets drawer to collect all the Down
Payments made to Supplies.
2. Define the Default G/L Accounts
• Go to Administrator Setup Financial G/L Account Determination.
• Select the Sales Tab General Tab to define the Down Payment Clearing and the down
Payment Interim Account for sales.
Page 3 of 10
How To Guide
•
Select the Purchasing Tab General Tab to define the Down Payment Clearing for
purchasing.
Page 4 of 10
How To Guide
Working with Down Payments
Down Payment Request
The Down Payment Request creates a request for payment without affecting the Accounting. You
can add a Down Payment Request manually or based on a marketing document such as Sales
Quotation, Sales Order and Delivery. Best practise is to create a Down Payment Request based on
a Sales Order.
Note:
The down payment will not work correctly with different VAT percentages. For example
receiving the incoming payment with VAT 15% and then allocating it on an Invoice with
VAT 17% due to different period range.
1. Create the Customer Sales Order
• Go to Sales Sales Order to create the new Sales Order.
2. Create the Down Payment Request
• Go to Sales Down Payment Request.
• Select a Customer and set the value date to the expected date of the payment.
• Select ‘Copy From’ and choose the relevant Sales Order from the list.
Page 5 of 10
How To Guide
•
Define the percentage or the amount of the required down payment and add the document.
3. Create an Incoming Payment based on the Down Payment Request
• Go to Banking Incoming Payment Incoming Payment
• Create a new payment and select the customer.
• From the open documents list select the Down Payment Request added earlier in the
system. The Document Type will help you identify the Down Payment.
Page 6 of 10
How To Guide
The Incoming payment will create a Journal Entry as shown below:
Debit the Cash Account
Credit the Customer with the gross amount
Additionally, the system will:
Debit the Down Payment Interim Account with the gross amount
Credit the Down Payment Clearing Account and the VAT Payable Account
4. Add the regular Invoice
• Go to Sales A/R Invoice.
• Create a new A/R Invoice for the customer.
• Choose ‘Copy From’ and select the relative Sales Order from the list. The system will
automatically display the relative down payment at the Document Totals.
•
Add the A/R Invoice.
The system will create a Journal Entry as shown below:
Credit the Down Payment Interim account to zero its balance
Debit the customer with this amount
Additionally, the system will:
Debit the Down Payment Clearing account to zero its balance
Credit the Sales Revenue with the same amount
Page 7 of 10
How To Guide
Down Payment Invoice
The Down Payment Invoice creates an Incoming Payment and affects the Accounting and it can be
created manually or based on a Sales Quotation, Sales Order or Delivery Best practise is to create a
Down Payment Invoice based on a Sales Order.
1. Create the Customer Sales Order
• Go to Sales Sales Order to create the new Sales Order.
2. Create the Down Payment Invoice
• Go to Sales Down Payment Invoice.
• Select a Customer and set the value date to the same date as the posting date.
• Select ‘Copy From’ and choose the relevant Sales Order from the list.
Page 8 of 10
How To Guide
•
Define the percentage or the amount of the down payment and add the document.
The system will add two Journal Entries, one for the Down Payment Invoice and one for the
Incoming Payment.
The Down Payment Invoice will:
Debit the Customer
Credit the Down Payment Clearing account and the VAT Payable account.
The Incoming Payment will:
Debit the Cash Account
Credit the Customer
3. Add the regular Invoice
• Go to Sales A/R Invoice.
• Create a new A/R Invoice for the Customer.
• Choose ‘Copy From’ and select the relative Sales Order from the list. The system will
display the relative down payment at the Document Totals.
Page 9 of 10
How To Guide
•
Add the A/R Invoice
The system will create a Journal Entry to:
Debit the Down Payment Clearing account to zero its balance
Credit the Sales Revenue with the same amount
Add a Down Payment to Supplier
Follow the same processes described above for Customer Down Payment using the Purchase AP
module and the Outgoing Payment from Banking module.
Page 10 of 10

How to Setup and use Down Payments How To Guide

Transcription

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