Sage X3 Core Financials - Day 6 - Payments & Receipts

Question 1

PAYMENTS & RECEIPTS

Answer 1

In this Lesson you will learn how to use the Cash Requirements Report, Generate Automatic Payment Proposals and how to enter Payments and Receipts.

TOPICS IN THIS LESSON INCLUDE:

• Using the Cash Requirements Report,
• Generating Automatic Payment Proposals,
• Payment Process Flows,
• Understanding the Payment/Receipt Process.

Question 2

Using the Cash Requirements Report: (CSHREQ)
Path: Reports > Prints/Group > Financials > Cash Requirements Report

Answer 2

We use the Cash Requirements Report to get information on the Amount needed to pay Open Invoices based on the Criteria you define.
For Example, you can run the Report to View the Cash Requirements needed to pay all Invoices Due as of a Specific Date.
- Information is listed for all Payment Types, such as Check, Wire, Bank Transfer, etc. The Payment Terms dictate the Payment Types for a Supplier.

Question 3

Generating Automatic Payment Proposals: (PAYPROPAL)
Path: A/P - A/R Accounting > Payments > Payment Proposals

Answer 3

Payment generation is the first phase in the posting of the Invoices coming from the Purchase, Sales or A/P - A/R Accounting Modules.
It can take place in Manual Entry or it can be an Automatic Generation using the Automatic Payment Proposal.

• The Automatic Payment Proposal is carried out on a Selection of Open Items of Invoices /Credit Memos. Payments are generated from Data available on the original Invoice, but also using information available in the Payment Proposals Function.
• Use the Payment Proposals (PAYPROPAL) Function in the A/P - A/R Accounting > Payments > Payments Proposals.
• Not all Invoices/Credit Memos are managed by the Automatic Proposals:
  – When Open Items (Invoices and Credit Memo) must be recorded on a Statement, the Automatic Payment Proposals does not consider the Open Items that are not on the Statement yet.
  – Open Items with an unknown Payment Approval Status are not considered by the Processing.
  – Payment Sign: Select whether to perform a Disbursement (Expense) or a Cash Receipt (Revenue).
  –Company: You must select the Company on which the Payment is carried out. Only the Open Items for this Company are considered for the Payment Generation.

Question 4

Payment Process Flows:

Answer 4

Process Flow for Supplier Payments:

Receipts Checks Process Flow:

RECEIPTS CHECKS:

Re

Question 5

Understanding the Payment/ Receipt Process: (GESPAY)
Path: A/P - A/R Accounting > Payments > Payment/Receipt Entry

Answer 5

We use the Payment/Receipt Entry (GESPAY) Function to post the Payment of Invoices coming from the Purchase, Sales or A/P - A/R Accounting Modules.

• This generation can take place in Manual Entry by using this Function or by Automatic Generation in the Automatic Payment Proposals Function.
• The Payment can be associated with an Invoice or Order. Alternatively, it may be a Miscellaneous Payment which is not directly attached to an Open Item.
• This Function is used for both Sales and Purchasing.
• You can also use this Function to view all the entered Payments, by Payment Transaction.

– Additionally, you can generate a Journal by Payment entered or view the grouping/posting stages that remain to be carried out.

• The Transaction selection window displays, select the transaction template you want to use.

– Depending on which Payment Transaction you select, the Fields and Tabs on the Payment/Receipt Entry Function will vary.