Making a Fast-Entry Incoming Payment in FICO

Use

A few days after sending the invoice you will receive payment for the forwarded pumps. You now enter this payment in accounts receivable.

In this process, you will require the baseline date and the cash discount base you noted in the 4^th step. We will assume that the customer will pay 14 days after the invoice is sent. (Base date + 14 days). The customer has differing payment terms according to the type of product and international subsidiary concerned. Dependent on the payment terms, the customer can deduct cash discount from the cash discount base if he pays within 14 days of the invoice being sent.

Procedure

1. Call up the transaction as follows:

Menu Path	Accounting ® Financial Accounting ® Accounts Receivable ® Document Entry ® Payment Fast Entry
Transaction Code	F-26

2. Enter the following data:

Field	Europe	North America
Company code	1000	3000
Posting date	Bline date + 14 days	Bline date + 14 days
Bank account	113109	113109
Currency	EUR	USD
Reference	Any number	Any number
Document date	Base date + 14 days	Base date + 14 days
Value date	Base date + 14 days	Base date + 14 days

3. Select Enter payments.
4. Choose
to bypass any warning messages.



The Incoming Payments Fast Entry: Header Data screen is only displayed the first time that you call up the transaction. To maintain or verify your entries, choose Specifications.

5. Enter the following data:

Field	Europe	North America
Customer (payer)	1050	3050
Amount	Noted cash discount base amount less cash discount	Noted cash discount base amount less cash discount

6. Choose Process open items.

The system tells you that the document date is in the future.

7. Bypass the warning with .

The system displays the open items for the customer.

8. Double-click on the gross amount of the item to be cleared. The line will change color.

Any other lines should be colored black. (If this is not the case, deselect the lines that you do not require by double-clicking the EUR/USD gross amount field).

9. Choose .

The system confirms that the document has been saved.

10. Choose until the overview tree appears.