Select Customer Invoices/Prepayments for Netting

Explanation

The Customer Invoices/Prepayments for Netting activity is used for selecting customer invoices or prepayments that can be used in netting between supplier and customer. The Remaining Amount on Payment field must always be zero (0). Adjust the paid amount on individual invoices to zero the balance. No new payments on account can be created.

Note that information that netting has taken place is not automatically sent to the supplier/customer. This must be carried out manually.

Prerequisites

This activity requires that information has been entered in the General and Supplier Invoices/ Prepayments tabs in Netting.

System Effects

As a result of this entry, a voucher group G is created containing two payments, one for customer invoices/prepayments and another for supplier invoices/prepayments. The payments are booked on a cash account created specifically for netting transactions. The same netting account is used for all currencies.

Window

Netting

Related Window Descriptions

Netting, Netting/Customer Invoices/Prepayments, Netting has been performed

Procedure

To select customer invoices and prepayments for netting:

  1. Click the Customer Invoices/Prepayments tab in the Netting window. The Remaining Amount on Payment field shows the amount that is to be netted. 
  2. Click New.
  3. Enter series and number in the Series ID and No fields. If only one open installment exists for the invoice, the system will automatically populate the Installment ID field. When the installment ID displays or you manually enter it, the system will automatically populate the following fields. You also can select the items by right-clicking and clicking Select Batch.
  4. If you want to enter a parked payment for offset, select the Parked Payment check box and continue as in step 3.
  5. Continue entering the transactions until the value in the Remaining Amount on Payment field is zero (0).
  6. Modify the interest date if required.
  7. Click Save to save the details entered on all tabs.
  8. The Netting has been performed dialog box appears with the details about the created payment and the created voucher. Click OK.