Product Update 406: Enhancements to cash flow report (Chinese legislation)

In China, financial statements have to be reported in a specific format in the local language. These reports are available in Finance à Reports à China Statutory Report à Balance / PL. The cash flow report displays all the payment and receipt transactions based on the pre-defined categories. In this product update, you can define the cash flow category either at Item code or GL: Free field 1 during the payment process. 

Balance / PL screen

The Filter section has been added in the Finance / Reports / China Statutory Report / Balance / PL screen.

Payment process

At Cash flow à Payments à Process, the Cash flow section has been added. The Item code field will be displayed if Item code is selected at CF Category, and the Free field 1 field will be displayed if GL: Free field 1 is selected at CF Category.

The value defined for GL: Free field 1 or Item code will be available in the bank or cash journal, or general journal once the value has been successfully processed if the Journalize payments check box at System à General à Settings à Bank settings is selected.

Note: This function is applicable only for on credit, cash, cheque, EFT, and letter of credit payment methods.