Processing matched invoices
Menu paths
-
Cash flow ➔ Entries ➔ Cash flow, create an entry or edit an existing entry, click Match to invoices in the Matching & Processing section, and then click Match/Process in the Matching screen to display the Process screen.
- Cash flow ➔ Entries ➔ Cash advance, create an entry or select an entry, click Match to invoices in the Matching & Processing section, and then click Match/Process in the Matching screen to display the Process screen.
Introduction
To match the transactions, make sure the cash flow transaction is selected in the Cash / bank section and the invoice(s) or installment(s) is(are) selected in the Invoices section in the Matching screen. Then, click the Match/Process button. If the balance amount that is displayed at the top center of the two sections is zero, the selected transactions will be matched, and then cleared out from list. Only selected transactions that have not been matched yet will be displayed in the list. Any difference resulting from the matching process will be displayed in the Process screen. The difference can be “balance to be paid”, “balance overpaid”, or “balance to claim”. You can allocate or write off the outstanding balance via the Process screen.
What version are you using?
The information in this document is applicable to product update 411 and higher. If you have versions lower than this, certain features explained here will not be applicable.
How do I allocate the balance amounts from matched transactions?
- From the Cash flow or Cash advance screen, click New to create an entry. Alternatively, select an existing entry to be matched and then click Edit.
- Click Match to invoices in the Matching & Processing section.
- In the Matching screen, select the required cash flow transaction from the Cash / Bank section, and the invoice(s) or receipt(s) in the Invoices section to be matched.
- Click Match/Process.
- The Process screen will be displayed if the payments or receipts and the invoices are not balanced. The balance amount will be displayed at the top left corner of the screen.
- Choose the type of transaction for the balance amount from the Options section.
- In the Transaction section, define the details for the balance.
- Click Process to process the difference.
- Click Close to exit.
How do I allocate the outstanding balance from matching a single receipt or payment to multiple invoices?
- From the Cash flow or Cash advance screen, click New to create an entry. Alternatively, select an existing entry to be matched and then click Edit.
- Click Match to invoices in the Matching & Processing section.
- In the Matching screen, select the required cash flow transaction from the Cash / Bank section, and the invoice(s) or receipt(s) to be matched in the Invoices section.
- Click Match/Process.
- The Process screen will be displayed.
- Click Collective payment. For more information, see Collective payments.
How do I allocate the outstanding balance in unauthorized deductions and remit invoices?
- From the Cash flow or Cash advance screen, click New to create an entry. Alternatively, select an existing entry to be matched and then click Edit.
- Click Match to invoices in the Matching & Processing section.
- In the Matching screen, select the required cash flow transaction from the Cash / Bank section, and the invoice(s) or receipt(s) to be matched in the Invoices section.
- Click Match/Process.
- The Process screen will be displayed.
- Click Advanced. For more information, see Deduction management.
Note: The Advanced button is displayed in the Process screen only after the Deduction management check box is selected under the General section in Bank settings via System ➔ General ➔ Settings ➔ Bank settings.
Fields
Options section
The options displayed in this section may vary, depending on the balance amount yielded from reconciliation process.
The following options are displayed for balance overpaid:
Balance
Select this option to process the difference as a balance that the debtor has paid.
Payment difference
Select this option to process the difference as a payment difference between what the debtor needs to pay and what he has actually paid. For example, the debtor paid 100 EUR for an invoice of 90 EUR. This might be possible in a situation where multi-currency is used and a difference arises due to the exchange rates.
Exchange rate difference
Select this option to process the difference as an exchange rate difference. When handling transactions involving foreign currencies, you can also predefine the tax code for the exchange rate difference general ledger. This way, the system will derive the tax code and rate of the write-off entry automatically from the terms predefined for the exchange rate difference general ledger for tax reporting purposes.
Note: This option is applicable for foreign currency transactions.
Prepayment
Select this option to process the difference as a prepayment. You can proceed to do the matching once you receive the invoice from the debtor. For example, when a receipt of 200 EUR is matched with a sales invoice of 150 EUR, you can book 50 EUR as prepayment. If a receipt of 150 EUR is matched with a sales invoice of 200 EUR, the option Prepayment will not be available.
Refund
Select this option to process the difference as a refund. In the Matching screen, the payment under the Cash / bank section will be removed and the invoice under the Invoices section will no longer display the full amount but the difference that needs to be refunded. You then go to Cash flow/Miscellaneous/Refund and define the relevant criteria. Click Additional criteria to define the additional criteria, and then click Close to close the Additional criteria screen. Click Display to display the transactions according to the defined criteria. Select the To be authorized check box to display the transactions that need to be authorized. Select a transaction and click the Authorized box on the left. Then, select the Already authorized check box to display the transactions that are authorized but not processed. Select a transaction and click the Processed box on the left. You have now authorized and processed the refund. You can then go to Cash flow/Entries/Cash flow and make the refund (payment) to the debtor. This will create a payment under the Cash / bank section in the Matching screen. You can now automatically match the payment with the invoice (that displays the difference that needs to be refunded).
Bank charges
Select this option to allocate remaining balances as the banking fees during the reconciliation process for the tax reporting purposes. Click the Browse icon to select a G/L to which the banking fee is allocated.
By default, the general ledger displayed is the same as the general ledger defined at Bank costs under the General ledger section in General ledger settings (System ➔ General ➔ Settings ➔ General ledger settings). Hence, the tax code and rate of the write-off entry are retrieved from the terms predefined for the bank costs general ledger, unless a different general ledger is selected at Bank charges. The tax amount displayed is always an inclusive amount, regardless of the tax type, excluding or including, used for the calculation. This amount will be booked to the bank creditor. If the Tax code field is left blank in the Extra tab of the selected general ledger, a zero VAT term will be created for the write-off entry automatically.
Note: This feature is not applicable when compressing invoice terms, including matching of invoices with multiple credit notes.
Other
Select this option if the difference does not fall within any of the available options and click the Browse icon to select a G/L to allocate the invoice or installment to.
The following options are displayed for balance to be paid and balance to claim:
Balance/Compress
Select this option to process the difference as a balance that the debtor needs to pay. This will split the original invoice (or installment) into two parts, one for the difference amount (which remains unmatched) and one for the amount that is matched.
Payment difference
Select this option to process the difference as a payment difference between what the debtor needs to pay and what he has actually paid. For example, the debtor paid 90 EUR for an invoice of 100 EUR.
Discounts
Select this option to allocate the invoice amount to the general ledger account (if the debtor paid within the agreed payment date).
Exchange rate difference
Select this option to allocate the difference as an exchange rate difference. When handling transactions involving foreign currencies, you can also predefine the tax code for the exchange rate difference general ledger. This way, the system will derive the tax code and rate of the write-off entry automatically from the terms predefined for the exchange rate difference general ledger for tax reporting purposes.
Note: This option is applicable for foreign currency transactions.
Discounts (Including: Tax)
Select Adjust: Revenue to adjust the revenue and tax (the system will correct the tax as it reverses the financial transactions of the original invoice for the difference amount), or select Write off discount to write off the discount.
Bank charges
Select this option to allocate remaining balances as the banking fees during the reconciliation process for the tax reporting purposes. Click the Browse icon to select a G/L to which the banking fee is allocated.
By default, the general ledger displayed is the same as the general ledger defined at Bank costs under the General ledger section in the General ledger settings (System ? General ? Settings ? General ledger settings). Hence, the tax code and rate of the write-off entry are retrieved from the terms predefined for the bank costs general ledger, unless a different general ledger is selected at Bank charges. The tax amount displayed is always an inclusive amount, regardless of the tax type, excluding or including, used for the calculation. This amount will be booked to the bank creditor. If the Tax code field is left blank in the Extra tab of the selected general ledger, a zero VAT term will be created for the write-off entry automatically.
Note: This feature is not applicable when compressing invoice terms, including matching of invoices with multiple credit notes.
Other
Select this option if the difference does not fall within any of the available options and click the Browse icon to select a G/L to allocate the invoice or installment to.
Calculation: Difference amount section
This section displays the calculation breakdown for the paired transactions and balance amount.
Transaction section
This section displays the transaction details. Data in the entry lines that have no predefined values can be edited.
Buttons
Collective payment
Click this to open the Collective payment screen. For more information, see Collective payment.
Advanced
Click this to open the Deduction management screen. For more information, see Deduction management.
Note: The Advanced button replaces the Collective payment button if Deduction management is selected under the General section in Bank settings.
Process
Click this to process the balances.
Cancel
Click this to cancel the process and exit.
Related documents
Main Category: |
Attachments & notes |
Document Type: |
Online help main |
Category: |
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Security level: |
All - 0 |
Sub category: |
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Document ID: |
17.853.871 |
Assortment: |
Exact Globe+
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Date: |
26-09-2022 |
Release: |
411 |
Attachment: |
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Disclaimer |