Enter Customer Check Information

Explanation

This activity is used to enter information about Checks received from customers. General Check information to be entered includes customer, currency, amount and payment date. You also specify the cash account to which the Check should be cashed.

Before saving the Check, you can match it with unpaid invoices or difference items. See further the Match Check with Customer Invoices activity. When the Check is saved, the matched invoices are paid and the customer claim from the invoices (IP2) is removed. However a new customer claim appears (PP28) which is represented by the entered open Check. If the Check is not completely matched with invoices, the remaining unmatched part is stored as a payment on account or as a difference item, which can later be matched with invoices in the Customer Offset function. After entry, the Check will be in Created status, and the open Check will be found in the AR ledger with its Series ID and number.

Enter a Post-dated check based on the specific functionality, by enabling the toggle “Enable Post-dated Checks” on the Company / Payment / General Tab. Voucher creation will be deferred.

For a Check created using the Post-dated Check functionality, a ledger item is not created at the initial stage, and it will have the status Preliminary. The status of the matched invoices will remain unchanged until the check is set to Created. An Open Customer Check ledger item will not be created if the Check status is Preliminary.

 

Prerequisites

General basic data and a customer must exist. 

System Effects

When a Customer Check has been entered saved and in status Created, all matched invoices are paid, and an Open Customer Check ledger item is created with the full Check amount. If the Check is not fully matched, the remaining part will create a new Payment on Account or a Difference Item with the unmatched amount. A voucher will be created in the hold table in IFS Accounting Rules.

When a Customer Check is in status Preliminary, the matched invoices' status remains unchanged. At this stage, an Open Customer Check ledger item has not been created yet. However, matched invoices are prevented from further use.