This feature stores information on all the checks that were entered through the creation of incoming payments, and records both the information on the check and its intended purpose. This means that users can verify at any time when the check was deposited, and whether it was endorsed.

This feature stores information on all the credit card vouchers that were entered when creating incoming payments. Records both the information on the credit card voucher and its intended purpose. This means that users can find out at any time when the credit card voucher was deposited, or whether it was endorsed.

Deposits

Enables users to record cash payments, credit card payments, and check deposits. For checks and credit cards, a list of all checks or credit card vouchers is displayed, so that users can choose the ones they want to deposit. Credit card vouchers can be deposited automatically, depending on agreements with the credit card vendors.

Postdated Check Deposit

Enables the user to deposit postdated checks that were first deposited in the postdated checks account, and who's redemption date has arrived.

Postdated Credit Card Deposit

Enables the user to deposit postdated credit card vouchers that were first deposited in the postdated credit card vouchers account, and who's redemption date has arrived.

Enables companies to issue checks for vendors, employees, and other creditors. The user can print the check automatically after it has been entered, or print a range of checks. The balances of the payees accounts are updated each time users add a payment to vendor or a check for payment, unless the check for payment was added without a journal entry being created.

This feature supports the voiding of a single check or a number of checks in succession. The voiding checks option is in addition to the former methods of canceling checks via the Checks for Payment or the Payments to Vendors windows.

Voiding checks is usually required in cases where the printed check number does not match the number assigned to it by the system; when a check was cancelled before it was delivered; or when it is cashed to or by a business partner.

SAP Business One provides a Payment Wizard which enables companies to clear Account Receivable (AR) transactions and Account Payable (AP) transactions automatically, by creating payment documents, checks for payments, bank transfer files and bills of exchange for several documents at the same time. The payment type, payment means and series used in the last payment run are selected by default when opening the Payment Wizard.

Direct Debit Process - Using a special bank form. SAP Business One records transactions and enables users to initiate an automatic process to add the payment and clear the invoice according to predefined data.

This feature enables users to post future incoming and/or outgoing payments done by bank transfer to an interim account designated to hold amounts that were paid but not yet redeemed. Once the confirmation of the bank transfer is received, the interim account should be cleared. 

Internal reconciliation in SAP Business One are performed both manually, and automatically.

Manually - when initiated by the user, SAP Business One supports internal reconciliations for business partners and G/L accounts. Transactions can be either fully reconciled or partially reconciled. For business partners, reconciliation of transactions posted to different business partners is supported. In addition, the user can specify parameters and conditions and ask SAP Business One to provide with recommendation for transactions to be reconciled, or to have the transactions in defined range automatically reconcilied by SAP Business One according to the conditions specified by the user.

Automatically - while the creation of different documents is initiated by the user, the transactions posted as a result of these documents are automatically reconciled, fully or partially. For example, when creating a payment for selected invoice(s), or when creating a credit memo for specific invoice, the transactions are automatically reconciled internally.

Offers a dunning system to help track customer due debts and manage the collection process.

Enables users to define up to 10 levels of severity and attach them to appropriate dunning letters. Users can then use existing reports to send dunning letters to customers of their choice. After sending a dunning letter, the system automatically progresses relevant invoices to the next level and updates the customer's card to the highest level of severity that currently exists for the card.

Dunning is a sophisticated system, handling multiple letters and maintaining dunning history for each business partner.

It includes a dunning wizard, history tracking, and enhanced dunning parameters.

The Dunning wizard is used at regular intervals, such as monthly or weekly, to check all outstanding customer invoices. A series of dunning letters at different levels can be sent at predefined intervals.

The Dunning History is saved for each business partner. It can be displayed by using appropriate reports to track the Dunning status of a business partner.

The user can set up Dunning terms and associate them with invoices for specific business partners. In addition, you can determine the method of calculating interest and dunning fees.

Enables the company to give the customers discount against cash payment or for early payment. The user defines the cash discount parameters according to the company policy, and SAP Business One makes the required calculations to update the amounts that should be paid. 

Not available in Israel.

The application supports the creation of journal entries for small differences in amounts when users generate incoming and outgoing payments manually. This feature is activated only when the difference is lower than the permitted difference defined by the user.