| # Function: Bank statement processing In this function, all activities are carried out from the moment the bank statement is received, until the statement is completely processed. This processing includes payments and receipts. After you registered the statement, you have several options from which to choose, depending on the origin of the payment or receipt, including the following: Assign to AR invoice, in case of a receipt on an AR Invoice, including assignment of remittance advices. Assign to AP invoice, in case of a payment on an AP Invoice. Assign to an anticipated payment (AP), for example, in case of a payment on your bank statement because the supplier cashed a check from you. When you sent the check, you created this anticipated payment. Assign to anticipated advance payment, in case of an advance payment you created because the supplier asked you to pay before delivery, therefore, also before you receive this invoice. Assign to anticipated receipt, for example, after you send a check to the bank to be cashed. Register unallocated payment, in case of a payment you cannot directly link to an invoice. You register the payment as an unallocated payment and assign the payment to an invoice later. Register unallocated receipt, in case of a receipt you cannot directly link to an invoice. You register the receipt as an unallocated receipt and assign the receipt to an invoice later. Register advance receipt, in case of an advance receipt from a customer, because you must request the customer to pay before you sent the invoice. In this case, you must also notify warehouse management that the order can be delivered. Variant process: Process bank statements, electronic (code: MCM02a) In this function, the statements received from the bank can be registered and payments on statements can be related to original payment orders. Both written and electronic statements can be processed in this function. Operations included in this variant are: Convert electronic bank statement. Remittance advice messages. Match electronic bank statement: match electronic bank statement and audit posting data of electronic bank statement. Post electronic bank statement. Update bank A/Cs. Finalize transactions Assumptions: No assumptions apply in this case. IT support: LN Financials, Cash Management LN Financials, General Ledger Variant process: Process bank statements, written (code: MCM02b) In this function, the statements received from the bank can be registered and payments on statements can be related to original payment orders. Cashbook statements can also be processed with the functionality in this process. Operations included in this variant are: Bank-statement transactions Finalize transactions Assumptions: You can use this function for cash statements. You do not enter every single cash payment or receipt in ERP Enterprise. You register the payment (receipts) outside ERP, and only enter the totals in ERP. You use the document with the totals, and the cash statement to register the payments in ERP Enterprise, for which you can use the bank statement functionality. IT support: LN Financials, Cash Management LN Financials, General Ledger |