What Postings are Generated by Payment Collection Run?
Payment Collection Run (PYC) generates the following payment transactions, providing the Post Transactions option is set to Yes:
- a payment transaction for each debtor/receivables account, or client account, for the net amount collected which is the gross amount less discount.
- one or more transactions to post the total amount collected from each customer to the payment accounts. This is the bank account posting. Separate payment accounts may be used for different currencies.
- optionally, a discount transaction (including any tax) is generated for any discount allowed, and another transaction is generated to post the tax included in this discount to the tax account.
The payment transactions generated have a journal source of DEBIT and the discounts have a journal source of DEBDS.
Each transaction that is paid is given the allocation marker of Paid, is assigned the next allocation reference, and the current allocation date and period.
The Collection Account Posting
The collection account to which the receipts are posted can be entered on Payment Collection Run (PYR). Alternatively, it can be preset for a payment collection run in the payment profile using Payment Profiles (PYP). In a multi-currency environment, separate collection accounts may be used for different currencies using Currency Codes (CNC).
A separate collection account posting is made for each debtor/receivables account receipt. It identifies the customer in the transaction description.
If you are collecting payments using the Bank payment method, the collection account posting is summarized into a single transaction for the entire payment run, if you set the Post Single Transaction to Payment Account option on the payment profile.
Analysis Codes
Normally SunSystems consolidates all transactions belonging to a particular debtor/receivables account, regardless of the analysis codes, and generates a single balancing credit transaction to the debtor/receivables account.
If you click , you can consolidate the postings according to selected ledger transaction analysis codes. You can also use the Consolidation form to assign analysis codes to the collection transactions. Similarly, click to assign analysis codes to the bank (collection account) transaction.
You can also use Business Rules to set or validate analysis codes on the generated transactions. If you use both Consolidation and Business Rules for this function, the analysis codes validated and set by Business Rules are definitive, and if different, override the codes set by Consolidation.
Provisional Postings
If provisional postings are mandatory for the business unit, all of the postings made by Payment Collection Run (PYR) are provisional. If provisional postings are optional, you must choose to post the transactions as provisional or permanent.
A feature associated with provisional ledgers, but which can be used independently, is the ability to record a sequence code and number for each transaction line or reference in a journal. This is a useful feature, which helps to ensure data integrity. The sequence data is held on a ledger transaction analysis code.
Sequencing can be applied to system generated transactions, including those generated by Payment Collection Run (PYC).