on 02-29-2024 3:21 PM
Hi everyone,
my company uses SAP B1 without much development. We are currently manually reconciling every single payment across our accounts everyday which takes us a minimum of 2 hours at a time. We have to manually reconcile an invoice with the journal payment for our orders. Is there a way we can limit the manual work and get B1 to do this for us?
Below image is the list of accounts we manually have to search in our BP master data, open up the account summary then click the internal reconciliation button then click the payment to the invoice. We have to do this across minimum of 100 accounts a day which is very time consuming,
please note, our company has the bare minimum development within this system and a lot of the functions have not been available and this is the only way we have been 'trained'.
any help is appreciated!
Hi Holly,
I see your payments are posted as a Journal Entry. Is there a reason behind it? Usually, payments are posted by using Banking > Incoming Payments (AR), Outgoing Payments (AP) or even the Payment Wizard (bulk payment run) where the payment is tied up with the Invoice. When this happens, SAP reconciles the Invoice and Payment automatically so you don't need to worry about doing it manually. See SAP Documentation by clicking on the below:
Incoming Payments | SAP Help Portal
I hope it helps you.
Felipe
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Are these Journals created manually? Or you guys are using an integration/data import process? In any case, having a common reference would help on running an automatic reconciliation, which is based on up to 3 matching rules. Bank reconciliation would be helpful as well, as you could import a bank statement and match the open transactions, but as you said, you receive a single payment, so your receivables are not coming all broken down from the bank.
Hi,
As per my understanding, the payments of your incoming and outgoing are not tagged correspondingly with your invoices.
If I can recommend it, it would be better if you could make the payments tagging with your invoices. Or else you can use EFMs for your payments. But yes, it would require development.
With Regards,
Samudra Gupta
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