Effects of the Cash Management application in Billing

Cash code

A cash code is an identifier for a bank account at a financial institution. You must specify a unique cash code for each bank location and bank account number.

You must define a cash code for each bank account to do these transactions:

• Issue payments from Accounts Payable

• Deposit payments to Accounts Receivable

• Deposit cash receipts in Cash Management

• Specify bank service transactions such as service charges and interest in Cash Management

See the Cash Management User Guide.

Cash code relationship

Through company cash code relationship, your company can use a specific bank account. When you define a cash code relationship, you must select a general ledger cash account and a bank transfer clearing account.

Transaction code

A transaction code is an identifier for a type of payment, such as a cash payment, bill of exchange payment, or bank service payment. You must define transaction codes for each kind of payment and bank service that you plan to use. You can use existing transaction codes or define your own codes.

Uses of cash payment formats

You can use cash payment formats to represent a printed cash payment form, a type of cash payment tape, or a type of electronic payment transfer file. You must define the payment format for each type of cash payment you create in Accounts Payable.

See the Cash Management User Guide.

Planning your Cash Management setup for Billing

You can use the Lawson Cash Management application to maintain a repository of all bank transactions, to reconcile your bank accounts, and to retain bank account balance information.

This checklist provides an overview for setting up Cash Management. See the Cash Management User Guide.