Installment Option – Whether to include tax and freight in first installment or need to be segregated across next installments Print Lead Days – Print list of customers who are due to pay on next 7 th day. The first 50% amount needs to be paid by 30 th day and balance 50% by 60 th day.Ĭheck Allow Discount on Partial Payments in case you need. Setup > Receipts > Distribution Sets > Create new distribution set as belowīase amount 100 siginifies the 100% which is splitted in two installments i.e 50% and 50%. Here supplier is not going to disclose the % of amount which he will charge. In Skeleton we have values as 0, 0 and 0. Setup > Collections > Collectors > Create collector if requiredĭistribution Sets – In Payables we have Full and Skleton where in Full we get distribution of item cost/ freight/ tax charges. Setup > Print > Statement Cycles > Here I am sending statement on first day of every month > In case we use skip then statement wont get generate for that particular monthĬollector– Collects the amount from customers who don’t pay on time Receivables > Setup > Transactions > Sourcesįrequency of sending statements to customers Setup > System > QuickCodes > Receivables > Freight CarriersĬlick on Organization Assignments > Check Vision Operations Now go to Setup > System > QuickCodes > Receivables > Query for Category CUSTOMER_CATEGORY and create new code/ meaning (say something like WHOLESALE) > SaveįOB: Free on Board – The point where the ownership ends.įreight Carriers – Using which transport we are going to supply our material Similarly for query for Area segment and create value if required. Similarly for query for Region segment and create value if required. The structure is Customer Territory Flexfield and select Segment as Country > Find > Create a Country India with value as IND > Save Receivables > Setup > Financials > Flexfields > Key > Values We have Territory and Sales Tax Location as KFF’s in AR Collections Workbench – We can review customer accounts and perform collection activities such as recording customer calls and printing dunning letters.Bills Receivable Workbench – We can create, update, remit and manage bills receivable.Receipts Workbench – We can create receipt batches and enter, apply, reverse, reapply and delete individual receipts. Transactions Workbench – We can create new invoices, update existing invoices, debit memos, credit memos and so on.Like initially we charged more amount and later on the amount need to given to customer. Like freight/ additional charges need to be levied from customer.Ĭredit Memo – We need to pay the amount to Customer. Difference between Debit Memo and Credit Memoĭebit Memo – We need to get the amount from Customer.
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