Prepayments are amounts paid by a customer in advance of the goods or services being received later on. Any payment made in advance can be considered a prepayment. Prepayment of an order takes place when a seller receives a form of payment from the customer at the time of order entry. Many types of prepayments are… Read More »
Overpayment by customers can present unexpected hurdles, ranging from accounting balance. In this blog, we will explore the process of resolving overpayments made by customers. Consider a scenario where we have a $2,000 invoice and receive a payment of $3,000, which we record in Payment/Receipt Entry using the Transaction Type Check Receipts (RECCH) function located… Read More »
A prepayment is a payment that you make before you receive goods or services. Sage X3 provides a new feature i.e creating Prepayment against a Purchase Order. In purchase, prepayment is used where user/supplier may require a deposit before commencing work on an order, or the order may have to be paid in advance. In this blog, we… Read More »
Sage X3 has provided us a function which is named as ‘Customer extension’ (function PROROGC). Sometimes there can be a situation where we need to extend the due date of payments which is pending from a customer. Here by using customer extension function we can update the new date of the payments for specific customers.… Read More »
Payment is the transfer of money or goods and services in exchange for a product or service. A payment can be made in the form of cash, check, credit card and debit card. Payments can be done against invoices that are generated from Sales/Purchase Invoice and Customer/Supplier BP invoice from the AP-AR accounting module. Payments… Read More »
In this blog post, we will discuss how to create manual remittance entries in Sage X3. As we all know, in Sage X3, payments can be done against invoices that are generated from Purchase Invoice and Supplier BP invoice from the AP-AR accounting module. Payments transactions are created bank-wise as per the selected supplier/vendor. Payments… Read More »
Have you ever come across a scenario where a BP is having Invoices & Credit memos open? ‘BP Net Settlement’ is used to settle open items for BPs that are customers, suppliers, or both. Open items that are available for settlement include invoices, unapplied prepayments, credit memos, and debit memos for customers and suppliers. New… Read More »
This is a useful set up for Inter-Company transactions. In order for it to work correctly set up a unique collection that is for both suppliers and customer postings. Set up a new Payment Attribute Note that the Accounting sign is set as Payment Sign and that the “Posted” field is left blank. This allows… Read More »
