This feature stores information on all the checks that were entered through the creation of incoming payments. Records both the information on the check and its intended purpose. This means that users can find out 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.

Supports the voiding of a single check or a number of checks in succession. The voiding checks option comes 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, or when a check was cancelled before it was delivered or 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 payments are created according to user-defined selection criteria and payment methods. You can select the documents to be included in the payment run across  range of due dates and document dates. In addition, you can define a minimum amount for the transactions to be included in the payment wizard run.

Payment wizard runs that include documents within locked periods, are saved in status Recommended , so the user can exclude those documents and execute the payment wizard run.

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.

The new SAP Business One 2007 capabilities for bank statement processing enable you to generate

incoming and outgoing payments and to perform internal and external reconciliation. By entering bank statement details, either automatically or manually, you can create transactions that have not yet been posted, such as incoming payments from a customer or notifications of clearance of payments to a vendor.

This document describes the following:

• Initial setup of bank statement processing
• Automatic entry of bank statements
• Manual entry of bank statements
• Creation and finalization of journal entry postings and payments
• Business scenarios

Available in the following localizations: Austria, Belgium, Brazil, China, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Hungary, India, Irish Republic, Italy, Japan, Korea, Netherlands, Norway, Poland, Russia, Singapore, Slovakia, Spain, Sweden, Switzerland, and United Kingdom.

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.

Supports Bills of Exchange as a method of payment. A Bill of Exchange is a signed, written order prepared by one party (drawer) who instructs another party (drawee) to pay a specified sum to a third party (payee). The customer and vendor agree on a Bill of Exchange as the means of payment, and on the due date the vendor claims the payment from the customer or the bank. A Bill of Exchange is used as a method of payment with a due date, as credit for the customer, or as a flexible financing tool. SAP Business One manages all receivables and payables involved during the stages of the Bill of Exchange process.

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.