Manual collections and payments in #SAP

Manual collections and payments in #SAP

By Cristian Bøhnsdalen

 

According to chatgptfree.ai #artificialintelligence:

“In SAP, manual collections and payments refer to the process of manually recording and managing incoming and outgoing payments that are not processed through automated means. This can include cash payments, checks, or other forms of manual transactions.

To perform manual collections and payments in SAP, users typically navigate to the relevant transaction codes or modules within the system, such as the Accounts Receivable (AR) or Accounts Payable (AP) modules. From there, they can enter the necessary details for the payment or collection, including the amount, payment method, and relevant account information.”

Manual collections:

Once the customer invoice is issued and registered, we proceed to it´s manual collection in the system. Consider that the manual collection is no more than an accounting entry, since the collection itself is done through the bank account in online banking. Meaning what is happening in SAP is simply manually mirroring what is happening in the bank.

To proceed, enter transaction F-28. Here you will enter posting date, document date, document type (DZ), company code and currency. In bank data, you must enter the bank collection account. This is the account with which collections are done, different from the main bank account for bank reconciliation. Also enter the total amount to be collected. Finally, in “open item selection” enter customer account and account type “D”.

Once you have entered all the data and pressed enter, you will see the following screen. Select the documents to be paid (in blue) and make sure amount entered and assigned match. Consider you could also make a partial payment on the document, meaning only a part of it will be paid and the rest will remain as open item. Select post when ready.

In FB03 you can visualize the collection document. Notice that this is debiting the bank account for collection, and crediting the customer account.

In FBL5N, invoice and payment are settled and displayed as closed:

Manual payments:

The concept is the same but reversed. Once received and processed the vendor invoice is ready to be paid. The manual payment will only be a journal entry in SAP, mirroring what has happened at the bank account. Payment in SAP and in bank are then done separately. This is not the case for automatic payment, where a flat file will be sent to the bank upon execution which will instruct the bank which payments must be made.

To proceed enter transaction F-53. In the header you will enter document date, posting date, document type “KZ”, company code and currency. In bank data, you will enter the bank account (gl account) which is used for payments, and differs from the main bank account. Also enter the total amount of the payment. Finally, in open item selection enter vendor account and account type “K”.

After pressing enter you will be led to the following screen. Select the invoice (open item) to be paid (in blue). Make sure amount entered and assigned match. Then click post. Also consider it is possible to make a partial payment, which means only a part will be paid leaving the rest as open item.

In FB03 you can visualize the payment document. Notice that this is crediting the bank account for payment, and debiting the vendor account.

 

In FBL1N, invoice and payment are settled and displayed as closed: