{"id":13319,"date":"2018-07-27T02:25:22","date_gmt":"2018-07-27T07:25:22","guid":{"rendered":"http:\/\/www.greytrix.com\/blogs\/sagex3\/?p=13319"},"modified":"2023-10-17T09:29:28","modified_gmt":"2023-10-17T09:29:28","slug":"draft-management-in-sage-enterprise-management","status":"publish","type":"post","link":"https:\/\/www.greytrix.com\/blogs\/sagex3\/2018\/07\/27\/draft-management-in-sage-enterprise-management\/","title":{"rendered":"Draft Management in Sage X3"},"content":{"rendered":"<p style=\"text-align: justify;\">With globalization, business and trading often use Promissory Note \/Bills of Exchange\/ Drafts. In Sage Enterprise Management, Draft Management functionality take cares of the Drafts within your accounting.<\/p>\n<p style=\"text-align: justify;\">A bill of exchange is a binding agreement by one party to pay a fixed amount of cash to another party as of a predetermined date or on demand.<\/p>\n<p style=\"text-align: justify;\">Today we are going to check the functionality of one of the Payment Term known as \u201cBills of Exchange\u201d\/Bills\/Draft in Sage Enterprise Management under Draft Management.<\/p>\n<p>Below are basic configuration setups for Draft Management in Sage Enterprise Management (formerly Sage X3).<\/p>\n<ul>\n<li>PAYMENT MASTER<\/li>\n<li>ACCOUNT MASTER<\/li>\n<li>ACCOUNT MAPPING<\/li>\n<li>DRAFT TRANSFER<\/li>\n<li>FINANCIAL IMPACT<\/li>\n<\/ul>\n<p><strong>PAYMENT MASTER<\/strong><br \/>\n1.1 Payment Entry Type<\/p>\n<p>Create a New Payment Entry Type for Draft Management.<\/p>\n<ul>\n<li>Under General TAB do the settings as Shown in Below Image.<\/li>\n<\/ul>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\" wp-image-13327 aligncenter\" src=\"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-content\/uploads\/2018\/07\/payment-entry-1.png\" alt=\"payment entry\" width=\"625\" height=\"420\" \/><\/p>\n<ul>\n<li>Under Entry Tab, Select the Group entry Payment grouping, Discount grouping and Journal Type as per the below Image.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"size-full wp-image-13328 aligncenter\" src=\"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-content\/uploads\/2018\/07\/bank-posting-sage-x3-1.png\" alt=\"bank posting sage x3\" width=\"478\" height=\"146\" \/><\/p>\n<ul>\n<li>Under Treasury Tab, Select the Triggering event as Draft Management Posting.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\" wp-image-13329 aligncenter\" src=\"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-content\/uploads\/2018\/07\/payment-master-entry-type-1.png\" alt=\"payment master entry type\" width=\"642\" height=\"187\" \/><\/p>\n<p>1.2 Payment Attributes<\/p>\n<p>Path: &#8211; Setup-&gt;A\/P-A\/R accounting<\/p>\n<ul>\n<li>Do a Setup for a New Payment Attributes for the Draft Receipts as shown in below Image.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-13330 aligncenter\" src=\"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-content\/uploads\/2018\/07\/Payment-Attributes-1.png\" alt=\"Payment Attributes\" width=\"497\" height=\"445\" \/><\/p>\n<p>1.1. Receipt<\/p>\n<p>Path: &#8211; A\/P-A\/R accounting-&gt;Payment\/Receipt entry<\/p>\n<ul>\n<li>From Payment\/Receipt Function select your Invoice from the left side panel of the screen against which we are going use this Payment Type and thereafter post the Transaction (<u>Draft Management).<\/u><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-13331 aligncenter\" src=\"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-content\/uploads\/2018\/07\/customer-bill-receipt.png\" alt=\"customer bill receipt\" width=\"532\" height=\"629\" \/><\/p>\n<p><strong>ACCOUNTS MASTER<\/strong><\/p>\n<p>2.1: Accounts<\/p>\n<p>Path: &#8211; Common Data-&gt;G\/L accounting tables-&gt;General<\/p>\n<ul>\n<li>Create a new GL code as per your Business process and mark it active.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-13332 aligncenter\" src=\"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-content\/uploads\/2018\/07\/Accounts-Master-1.png\" alt=\"Accounts Master\" width=\"464\" height=\"344\" \/><\/p>\n<p><strong>ACCOUNT MAPPING WITH CUSTOMER<\/strong><\/p>\n<p>3.1 Accounting Code<\/p>\n<p>Path: &#8211; Setup-&gt;Financials-&gt;Accounting code<\/p>\n<ul>\n<li>Map your GL Code we created in above step with the Draft Receivable line for Type Customer.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-13334 aligncenter\" src=\"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-content\/uploads\/2018\/07\/Accounting-Code-1.png\" alt=\"Accounting Code\" width=\"630\" height=\"294\" \/><\/p>\n<p><strong>DRAFT TRANSFER<\/strong><\/p>\n<p>4.1. Draft Transfer<\/p>\n<p>On the Due date, Run the Draft Transfer function from the AP\/AR Accounting Menu for Bank Posting.<\/p>\n<p><strong>FINANCIAL IMPACT<\/strong><\/p>\n<p>5.1. At the time of Sales Invoice<\/p>\n<table style=\"height: 100px;\" width=\"593\">\n<tbody>\n<tr>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"194\"><strong>Particulars<\/strong><\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"190\"><strong>Debit<\/strong><\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"191\"><strong>Credit<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"194\">Customer A\/c<\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"190\">2500<\/td>\n<td style=\"border: 1px solid #CCCCCC;\" width=\"191\"><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"194\">Sales A\/c<\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"190\"><\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"191\">2500<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>5.2 At the Time of Receipt<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"194\"><strong>Particulars<\/strong><\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"190\"><strong>Debit<\/strong><\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"191\"><strong>Credit<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"194\">Bills Receivable A\/c<\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"190\">2500<\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"191\"><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"194\">Customer A\/c<\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"190\"><\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"191\">2500<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table>\n<tbody>\n<tr>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"194\"><strong>Particulars<\/strong><\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"190\"><strong>Debit<\/strong><\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"191\"><strong>Credit<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"194\">Bank A\/c Dr.<\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"190\">2500<\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"191\"><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"194\">Bills Receivable A\/c<\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"190\"><\/td>\n<td style=\"border: 1px solid #cccccc; text-align: center;\" width=\"191\">2500<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-size: Medium;\"><strong>About Us<\/strong><\/span><br \/>\n<a href=\"https:\/\/www.greytrix.com\/africa\/\">Greytrix Africa<\/a> is a leading Implementation, Reselling and Consulting partner for Sage Enterprise Management (Sage X3), Sage 300, Sage Enterprise Management HR (Sage X3 People) &amp; Sage CRM based out of Nairobi, Kenya in East Africa region catering to Tanzania, Ethopia, Middle East, Australia and Asia businesses.<\/p>\n<p><a href=\"https:\/\/www.greytrix.com\/africa\/\">Greytrix Africa<\/a> offers professional services such as <a href=\"https:\/\/www.greytrix.com\/africa\/product\/consulting\/implementation-planning\">Implementation &amp; configuration<\/a>, Business Process Analysis, Project Management, Customization, Integrations &amp; Migrations, Technical support and Onsite resource augmentation along with enhancements within <a href=\"https:\/\/www.greytrix.com\/africa\/product\/sage-solutions\/sage-x3\">Sage Enterprise Management (Sage X3)<\/a>, <a href=\"https:\/\/www.greytrix.com\/africa\/product\/sage-solutions\/sage-x3-people\">Sage Enterprise Management HR (Sage X3 People)<\/a>, <a href=\"https:\/\/www.greytrix.com\/africa\/product\/sage-solutions\/sage-crm\">Sage CRM<\/a> and <a href=\"https:\/\/www.greytrix.com\/africa\/product\/sage-solutions\/sage-300\">Sage 300 (Accpac)<\/a> across various industry verticals like Process Manufacturing (<a href=\"https:\/\/www.greytrix.com\/africa\/product\/process-manufacturing\/sage-x3-in-food-and-beverage-industry\">Food &amp; Beverages<\/a>, <a href=\"https:\/\/www.greytrix.com\/africa\/product\/process-manufacturing\/sage-x3-in-chemical-industry\">Chemical<\/a>), Discrete manufacturing (<a href=\"https:\/\/www.greytrix.com\/africa\/product\/discrete-manufacturing\/sage-x3-in-automotive-industry\">Automotive<\/a>, <a href=\"https:\/\/www.greytrix.com\/africa\/product\/discrete-manufacturing\/sage-x3-in-textiles-and-apparel-industry\">Textile &amp; Apparel<\/a>), <a href=\"https:\/\/www.greytrix.com\/africa\/product\/industry-specific\/sage-x3-in-non-profit-organizations\">Non Profit<\/a>, <a href=\"https:\/\/www.greytrix.com\/africa\/product\/industry-specific\/sage-x3-in-healthcare-industry\">Health-care Industry<\/a> and Services Industry (<a href=\"https:\/\/www.greytrix.com\/africa\/product\/service-industry\/sage-x3-in-financial-services\">Financial<\/a> , <a href=\"https:\/\/www.greytrix.com\/africa\/product\/service-industry\/sage-x3-software-services\">Software<\/a> &amp; <a href=\"https:\/\/www.greytrix.com\/africa\/product\/service-industry\/sage-x3-in-engineering-services\">Engineering<\/a>).<\/p>\n<p>For more information on Sage Enterprise Management Consulting Services, please contact us at <a href=\"mailto:sales@greytrix.com\">sales@greytrix.com<\/a>.We will be glad to assist you.<strong>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With globalization, business and trading often use Promissory Note \/Bills of Exchange\/ Drafts. In Sage Enterprise Management, Draft Management functionality take cares of the Drafts within your accounting. A bill of exchange is a binding agreement by one party to pay a fixed amount of cash to another party as of a predetermined date or\u2026 <span class=\"read-more\"><a href=\"https:\/\/www.greytrix.com\/blogs\/sagex3\/2018\/07\/27\/draft-management-in-sage-enterprise-management\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[209,385,639,1450,1762,1822,1903,1931],"class_list":["post-13319","post","type-post","status-publish","format-standard","hentry","category-sage-x3-consulting","tag-bills-of-exchange","tag-configuration-steps-in-sage-x3","tag-draft-management","tag-payment-entry-for-draft-management","tag-sage-enterprise-management","tag-sage-x3","tag-sage-x3-kenya","tag-sage-x3-software-companies-in-kenya"],"_links":{"self":[{"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/posts\/13319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/comments?post=13319"}],"version-history":[{"count":3,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/posts\/13319\/revisions"}],"predecessor-version":[{"id":27588,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/posts\/13319\/revisions\/27588"}],"wp:attachment":[{"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/media?parent=13319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/categories?post=13319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/tags?post=13319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}