Function: Payment

In this function, all activities are carried out from the moment you select the invoice for payment until the moment you create a payment order.

Variant process: Create payment, bank (code: MCM01a)

In this function, you can create payment orders for approved invoices that support several payment methods, such as electronic file payment, cash payment, and payment by check.

Operations included in this variant are:

  • Select invoices for payment.
  • Process payment.
  • View exception error log.
  • Process payment manually, compose payments, assign banks to payments, audit payments, create payment orders, print remittance letters, post payment, and reset payment status.
  • Finalize transactions.

Assumptions:

  • You choose for the uninterrupted payment process in the CMG parameters and the Select Invoices for the Payment session.
  • In the parameter, you selected the uninterrupted payment process.
  • In case of errors in a payment process, you can manually process the payment.

IT support:

  • LN Financials, Cash Management
  • LN Financials, General Ledger
Variant process create payment, check (code: MCM01b)

In this function, you can create payment orders for approved invoices that support several payment methods, such as electronic file payment, cash payment, and payment by check.

Operations included in this variant are:

  • Check master.
  • Select invoices for payment
  • Process payment
  • View exception error log

  • Process payment manually:

    • Compose payments
    • Assign bans to payments
    • Audit payments
    • Create payment orders
    • Print remittance letters
    • Post payment
    • Reset payment status
  • Finalize transactions.

Assumptions:

  • In the parameter, you selected the uninterrupted payment process. In case of errors in a payment process, you process the payment manually.

IT support:

  • LN Financials, Cash Management
  • LN Financials, General Ledger
Variant process: Create payment, bill of exchange (code: MCM01c)

In this function, you can create payment orders for approved invoices that support several payment methods, such as electronic file payment, cash payment, and payment by check.

Operations included in this variant are the following:

  • Register received bill of exchange.
  • Accept/return bill of exchange.

Assumptions:

  • No assumptions apply in this case.

IT support:

  • LN Financials, Cash Management
  • LN Financials, General Ledger
Variant process: Create payment, documentary credit (code: MCM01d)

In this function, you can create payment orders for approved invoices that support several payment methods, such as electronic file payment, cash payment, and payment by check.

Operations included in this variant are:

  • Negotiate with financial institutions.
  • Transactions, in a journal voucher.
  • Finalize transactions.

Assumptions:

  • Before you receive the goods, the supplier wants you to guarantee that they will receive the money. You must negotiate with the financial institution that will provide the guarantee.

IT support:

  • LN Financials, General Ledger
Variant process: Assign Advance/ Unallocated Payments (code: MCM07a)

In this function, you can assign an advance/ unallocated payment to an invoice.

Operations included in this variant are:

  • Transactions, in a journal voucher to assign the advance/ unallocated payment to an invoice

Assumptions:

  • Money paid to a supplier may be treated as an advance. When an Invoice is received, then this advance should be assigned to the invoice.

IT support:

  • LN Financials, General Ledger