How To Guide
SAP Business One 2005A SP1,2007 A,SAP 8.8
How to Manage Cheques Overall Business Processes
BANKING
Related Business Process
ACCOUNTING
Responsible Department
ACCOUNTING
Involved Departments
ACCOUNTING
Last Updated
12/12/2011
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Page 1 of 8
How To Guide
SAP Business One 2005A SP1,2007 A,SAP 8.8
CONTENTS
MANAGE CHEQUES ....................................................................................................................................................3
INTRODUCTION..............................................................................................................................................................3
PROCESS FLOW .............................................................................................................................................................3
PROCEDURES ...............................................................................................................................................................4
1. POST INCOMING PAYMENT (FOR BUSINESS PARTNERS).............................................................................................4
2. POST DEPOSIT ...........................................................................................................................................................5
3. POST INCOMING PAYMENT (G/L ACCOUNT) FOR RETURNED CHEQUES ....................................................................6
4. EXCHANGE CHEQUE WITH OTHER PAYMENT MEANS ................................................................................................7
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Page 2 of 8
How To Guide
SAP Business One 2005A SP1,2007 A,SAP 8.8
Manage Cheques
Introduction
There are many cases where cheques given from Business Partners are returned from the bank to the
company as uncovered or with typing mistakes on them.
In SAP Business One, there is a process that can be followed to manage these cheques and this process
includes the handling of post dated cheques as well.
Process Flow
The documents involved are:
•
•
•
•
Incoming Payment (for Business Partner)
Deposit Cheque
Incoming Payment (for G/L Account)
Banking Register
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Page 3 of 8
How To Guide
SAP Business One 2005A SP1,2007 A,SAP 8.8
Procedures
1. Post Incoming Payment (for Business Partners)
•
•
•
From the Main Menu, choose Banking Incoming Payments Incoming Payment (Incoming
Payment for Business Partners).
In case the cheque is post dated, it should be added in the system with a future date.
This transaction will affect the accounting system as follows:
DR - Check to Deposit
CR - Customer record
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Page 4 of 8
How To Guide
SAP Business One 2005A SP1,2007 A,SAP 8.8
2. Post Deposit
•
•
•
•
From Main Menu, choose Banking Deposits Deposit.
Select the bank account to be used for the deposit.
In case the cheque is post dated, select the option Post- Dated Cheques instead of Cash Cheques.
This transaction will affect the accounting system as follows:
DR - Bank A/C
CR - Check to Deposit
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Page 5 of 8
How To Guide
SAP Business One 2005A SP1,2007 A,SAP 8.8
3. Post Incoming Payment (G/L Account) for Returned Cheques
•
•
In case the deposited cheque was returned, a new Incoming Payment must be posted but this time not
for the Business Partner but using a G/L Account.
This transaction will affect the accounting system as follows:
DR - Returned Checks
CR - Bank A/C
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Page 6 of 8
How To Guide
SAP Business One 2005A SP1,2007 A,SAP 8.8
4. Exchange Cheque with other Payment Means
To replace the cheque payment with other payment means or cash, you need to perform the following
after the new Incoming Payment.
•
•
•
•
•
Open the cheque register window from Main Menu Banking Cheque Register.
Click OK.
The Cheque Register window will display all the undeposited cheques.
Highlight the one you want to exchange.
Change the Endorsable status to YES as shown in the image below.
This way the cheque can be used for exchange.
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Page 7 of 8
How To Guide
SAP Business One 2005A SP1,2007 A,SAP 8.8
•
•
•
Then go to the Deposit window and change the “Deposit To” option from Bank Account to BP.
Then select the required Business Partner and follow the same process as used for Deposits.
This transaction will affect the accounting system as follows:
DR - Customer Account
CR - Return Cheques
•
•
The final step is to post the new Incoming Payment with the new data (Cheque, cash, Bank Transfer
or Visa).
This transaction will affect the accounting system as follows:
DR - Check to deposit
CR - Customer Account
Note
For better control and management there should be two accounts for returned cheques:
• RFD (Refer to Drawer) – Returned cheques
• PRD (Represent) – Represent cheque again
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Page 8 of 8