The viability and performance of any company depend on the ability to adequately manage its finances, through accurate and constant monitoring of money received and payments made.
Among the modules of SAP Business One, the payment wizard serves as a tool to carry out these important tasks. Therefore, in this article we will explain how to configure it for use:
3. Business partners can add criteria to select them: customers can be filtered using the code corresponding to the customer or supplier to whom payments will be made.
4. Documentation parameters - Payments can be managed by due or posting dates, tolerance days, and amounts due, so the system offers suggestions for each transaction.
5. Payment methods - according to the selected configuration, each payment will be reflected in the accounts assigned to transfers or checks; if there are different accounts in the same bank, but in different currencies, the division will be done automatically.
6. Recommendation - the documents that correspond to the parameters defined before this step will be displayed automatically by the system.
7. Saving options - there are four alternatives to save the options offered by the wizard:
Each option gives the possibility to modify the configuration of the payment assistant up to different points, but the subsequent steps can be modified.
8. Summary and printing of runs - payment runs are printed in the last step of the process. The payment assistant generates the summaries according to the parameters indicated by the user, including the registered payments, and allows the printing of the documents.
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The treasury of a company depends directly on a department that must establish and execute the collection and payment policy, so its members must be trained to deal with unforeseen events and place orders for products and services that the company needs. They also need to review every detail of the money flow, such as duplicate payments, if any.
The management of the treasury area becomes easier with the use of the payment wizard of the SAP Business One modules, where it is possible to register the payments received (receipts from customers), and the payments made (payments to suppliers) in accordance with the criteria that are established in the software.
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