| # Function: Receipt In this function, all activities are carried out from the moment you take the initiative to receive money or receive a check, until you create an anticipated receipt. After you carried out this function, you must wait for the bank statement that states the receipt, in which you process the bank statement, the anticipated receipt is cleared. Variant process: Process receipts, collection order (code: MCM03a) The objective of this process is to create direct debit orders and send the orders to the bank. You need this in some lines of business where customers permit you to create payment orders for them. Operations included in this variant are: Select invoices for direct debits Direct debit advice Process direct debits Review direct debit Reset direct debit status Assumptions: Direct debits are composed automatically. When you send the collection order to the bank, an anticipated receipt is created. This anticipated receipt is cleared when you process the bank statement. IT support: LN Financials, Cash Management Variant process: Process receipt, check (code: MCM03b) The objective of this process is to process receipts by check, trade note, and letter of credit and cash. The settlement of these receipts with the open entries in A/R is also supported. Operations included in this variant are: Transaction Select ranges of checks to be sent to bank Send checks to bank Assumptions: At the time you send the check to the bank, an anticipated receipt is created. This anticipated receipt is cleared at the moment you process the bank statement. IT support: LN Financials, Cash Management (CMG) LN Financials, General Ledger Variant process: process receipt, credit card (code: MCM03c) The objective of this process is to process receipts by check, trade note, and letter of credit and cash. The settlement of these receipts with the open entries in AR is also supported. Operations included in this variant are: Select invoices for credit card receipts Credit card receipt advice Process credit card receipts Assumptions: The direct debit functionality is used for this credit card procedure. A special receipt method for credit card receipts is created. The credit card company is entered as a bank relation. When you process the credit card receipt, an anticipated receipt is created. This anticipated receipt is cleared at the moment you process the bank statement. IT support: LN Financials, Cash Management Variant process: process receipt, bill of exchange (code: MCM03d) Operations included in this variant are: Select invoices for direct debits Direct debit advice Process direct debits Send bill of exchange to customer Accept/return bill of exchange by customer Send bill of exchange to bank Assumptions: The direct debit functionality is used for this bill of exchange procedure. When you send the bill of exchange to the bank, an anticipated receipt is created. This anticipated receipt is cleared when you process the bank statement. IT support: LN Financials, Cash Management (CMG) LN Financials, General Ledger Variant process: Settle/ Repay/ Unfactor Documents (code: MCM06a) In this function, you can settle, repay, or unfactor a factored invoice: Operations included in this variant are: Settle an invoice that is factored with recourse Repay a invoice that is factored with recourse Unfactor an invoice that is factored with recourse Unfactor an invoice that is factored without recourse. Money must not be received from the factor for these types of invoices Assumptions: The factor will send information about the settlement/dishonor of an invoice that is factored with him after money is received from the factor. IT support: LN Financials, General Ledger Variant process: Assign Advance/ Unallocated Receipts (code: MCM07b) In this function, you can assign an advance/ unallocated receipt to an invoice. Operations included in this variant are: Transactions, in a journal voucher to assign the advance/ unallocated receipt to an invoice Assumptions: Money paid by a customer may be treated as an advance/ unallocated receipt. When an invoice is raised, this advance must be assigned to the invoice. IT support: LN Financials, General Ledger Function: Cash management In this function, the use can carry out all activities that manage your cash position. This function includes daily review of cash reports, update of the statistics for each business partner, and forecasting your cash position. Process: Manage cash (code: MCM04a) The objective of this process is to generate cash forecasts. The cash forecast forecasts the cash position. This process uses various data, for example, purchase invoices, sales invoices, sales quotations, budgets, standing orders, and customer statistics. Operations included in this variant are: Review daily cash reports Update business partner statistics Forecast cash: update cash forecast, maintain purchase invoice cash dates, and maintain sales invoice cash dates. |