Intermediate steps in payment and receipt methods

A payment can go through several stages before the total procedure is completed.

Payment steps

  • For payments, these steps are available:

    • Document Received
    • Document Accepted/Sent
    • Document Paid

The Document Paid step is mandatory and is always carried out.

Only if a payment must get the Anticipated status, one or both of these actions are taken. In practice, the Document Received step is only used for posting trade notes and similar documents. The Document Accepted/Sent step is used for most of the other ways of payment, such as checks, bank orders, and so on.

Receipt stepsFor receipts, these steps are available:

  • Document Accepted by Cust
  • Document Sent to Bank
  • Document Paid

The Document Paid step is mandatory and is always carried out.

Trade notes stepsFor trade notes, many intermediate steps are available. Select the steps for the trade note statuses that you want to control. For example, in addition to the steps for payments and receipts, you can select:

  • Document Collateral
  • Document Endorsed
  • Document Discounted
  • Document Matured
  • Document Void
  • Document Settled

If you select intermediate steps, LN generates anticipated payments or anticipated receipts or you can create these manually. For some intermediate steps, you must change the status manually by using these sessions:

  • Anticipated Payment Status (tfcmg2512m000)
  • Anticipated Payments (Details) (tfcmg2116s000)
  • Anticipated Receipt Status (tfcmg2513m000)
  • Anticipated Receipts (Details) (tfcmg2117s000)
  • Anticipated Receipts (tfcmg2111s000)
  • Anticipated Payments (tfcmg2110s000)

If you do not select intermediate steps, LN immediately posts the payment amount or the receipt amount to the control accounts in Accounts Receivable or Accounts Payable. You do not need to carry out a reconciliation for these payments.

Prerequisites for financial postingsFor every step that requires financial postings, LN posts the amounts to these ledger accounts and dimensions:

  • The control accounts you defined for the business-partner groups in Accounts Receivable or Accounts Payable

  • The ledger accounts and dimensions that you select for the payment method in one of these sessions:

    • Data by Bank/Payment Method (tfcmg0145s000)
    • Posting Data by Bank/Payment Method (tfcmg0146s000)
    • Trade Note Posting Data by Payment/Receipt Method (tfcmg0514m000)

LN creates financial postings for these transactions:

  • Payments through bank orders and checks
  • Receipts through direct debits and checks
  • Trade notes payable
  • Trade notes receivable