The following updates have been added to RamBase Cloud ERP:
Finance
Enhanced prepayment handling process for Suppliers (SUP)
Classification: USEFUL
The process for handling prepayments to Suppliers (SUP) involves a streamlined approach to improve efficiency and accuracy in financial transactions.
Upon initiating a prepayment, a single Accounts payable transaction (SAT) is now created. This post serves as a detailed record of the prepayment, reducing the complexity of having multiple payment entries. The SAT-post enables the prepayment to be sent to the bank via a file, facilitating efficient and automated electronic payment processing.
Once the bank confirms the prepayment, a payment entry is created. This entry credits the supplier account with the amount paid in advance, ensuring real-time updates to financial records. A manual clearing process can be performed upon receipt of the supplier invoice.
To read more about prepayment to Suppliers (SUP), click here.
Knut Sætre Waka
The following updates have been added to RamBase Cloud ERP:
Finance
Enhanced prepayment handling process for Suppliers (SUP)
Classification: USEFUL
The process for handling prepayments to Suppliers (SUP) involves a streamlined approach to improve efficiency and accuracy in financial transactions.
Upon initiating a prepayment, a single Accounts payable transaction (SAT) is now created. This post serves as a detailed record of the prepayment, reducing the complexity of having multiple payment entries. The SAT-post enables the prepayment to be sent to the bank via a file, facilitating efficient and automated electronic payment processing.
Once the bank confirms the prepayment, a payment entry is created. This entry credits the supplier account with the amount paid in advance, ensuring real-time updates to financial records. A manual clearing process can be performed upon receipt of the supplier invoice.
To read more about prepayment to Suppliers (SUP), click here.