<?xml version="1.0" encoding="utf-8"?>
<ManualTopic ID="/baanerp/ff/financials/financials_ff_acp_acr" xml:lang="en">
   <Header>
      <Title>AP and AR: common features</Title>
      <Keyword type="header" order="d1e430749">
         <Level1>Functions and features</Level1>
         <Level2>Accounts Payable</Level2>
      </Keyword>
      <Keyword type="header" order="d1e430755">
         <Level1>Functions and features</Level1>
         <Level2>Accounts Receivable</Level2>
      </Keyword>
   </Header>
   <ConceptSection/>
   <GeneralSection>
      <List>
         <ListItemHead>
            <Link href="/baanerp/tf/onlinemanual/000102" role="manual">Financial business partner groups</Link>
         </ListItemHead>
         <ListItem>
            <Paragraph>Financial business
			 partner groups are used to establish the link between the accounts payable and
			 accounts receivable on the one hand and the general ledger on the other hand.
			 For each business partner group you must define a set of <Link href="/baanerp/tf/glossary/glossary#LedgerAccoun_tf" role="glossary">ledger accounts</Link> and <Link href="/baanerp/tf/glossary/glossary#Dimension_tf" role="glossary">dimensions</Link> to which the transactions are posted.</Paragraph>
         </ListItem>
         <ListItemHead>
            <Link href="/baanerp/tf/onlinemanual/000400" role="manual">Control accounts</Link>
         </ListItemHead>
         <ListItem>
            <Paragraph>Business practices in Japan, Spain, Italy, and other
			 countries require that different types of receivables and payables are posted
			 to different control accounts. Multiple control accounts for financial business
			 partner groups allow you to post real trade transactions and other
			 purchase/sales related transactions to different control accounts.</Paragraph>
         </ListItem>
         <ListItemHead>
            <Link href="/baanerp/tf/onlinemanual/000490" role="manual" Update="No">Receipts against shipments</Link>
         </ListItemHead>
         <ListItem>
            <Paragraph>You can use the receipts against shipments functionality to
			 generate or enter payment transactions and receipt transactions in <GUIRef href="/baanerp/tf/cmg" role="module">Cash Management</GUIRef> based on
			 shipment/order information and to maintain the balances by shipment/order.</Paragraph>
         </ListItem>
         <ListItemHead>
            <Link href="/baanerp/tf/onlinemanual/000109" role="manual">Credit notes</Link>
         </ListItemHead>
         <ListItem>
            <Paragraph>If the customer
			 returns part of the goods, or if you create invoice corrections, you or your
			 business partner can create a <Link href="/baanerp/tf/glossary/glossary#CreditNotes_tf" role="glossary">credit note</Link> to correct the
			 amount payable for an invoice. If you automatically process the invoices, ERP Enterprise automatically
			 generates credit notes and assigns credit notes to invoices.</Paragraph>
         </ListItem>
         <ListItemHead>
            <Link href="/baanerp/tf/onlinemanual/000405" role="manual" Update="No">Trade notes</Link>
         </ListItemHead>
         <ListItem>
            <Paragraph>Trade notes are legally accepted payment instruments such as
			 bank drafts, checks, promissory notes, and bills of exchange. Trade notes can
			 be used instead of cash payments. As trade notes are negotiable they can also
			 be used as a credit instrument, for example, for discounting and endorsing.
			 Trade notes can exist on paper and on magnetic supports, according to local
			 business practices and banking standards.</Paragraph>
         </ListItem>
         <ListItemHead>
            <Link href="/baanerp/tf/onlinemanual/000420" role="manual">Factoring</Link>
         </ListItemHead>
         <ListItem>
            <Paragraph>ERP Enterprise supports <Link href="/baanerp/tf/glossary/glossary#000428" role="glossary">factoring</Link> of your
			 outstanding receivables as well as payment of purchase invoices to <Link href="/baanerp/tf/glossary/glossary#000429" role="glossary">factors</Link> used by your
			 suppliers.</Paragraph>
         </ListItem>
      </List>
   </GeneralSection>
</ManualTopic>