Future Dated Payment

[Former Member]

In Oracle EBS, there is a feature in Payable called future dated payment (checkbox) when we make payment to supplier with check and that check is due next month. Next month when the check is due or cashed by supplier then we do reconcile in cash management to cash that check

AP Supplier Payable

Future Dated Payment

CM Future Dated Payment

Bank

In SAP, in payment means I can choose check to pay but the journal directly deduct the bank account not through future dated clearing account first which means there will be difference between the balance of that bank in the system and the balance in bank.

AP Supplier Payable

Bank

My question is, is there any similar future like future dated payment in SAP Business one to facilitate this business process?

Thanks a lot for your information.

[Former Member]

Hi Maonana...........

Its like Post Dated Cheque to your supplier if I'm not wrong.

You can have a simple work around for this.

You can save the payment as draft by inserting future date when that payment date will be matured.

Based on which you can have the reminder alert that if your system equals to PDC date then system will

allow you to add.

This way you can find out your way....

Hope this helps you.....

Regards,

Rahul

[Former Member]

Dear Rahul

thanks for your suggestion. But if I work around using draft, can it offset the invoice due? Because if we use real post dated cheque not the draft, we assume the invoice for that supplier status is already closed, only our bank account balance has not been deducted since the supplier has not cashed this check.

Regards,

Vic

[Former Member]

Hi Maonana.........

Such kind of facility is not there in B1. But suppose your PDC is bounced or cancelled then what in such case?

Anyways you can handle this scenario too by passing a manual JE where Suuplier will be debited and PDC account will be credited and just reconcile the invoice with this JE

Later when your cheque will be matured then just final it with proper posting.

Regards,

Rahul

[Former Member]

OK rahul thanks for your answer. I got your point.

[former_member186095]

Hi,

There is no future date payment in B1 as you have said but you can use deposit functionality to solve your issue. In B1, use the payment means --> check. In the deposit, there are checks, credit card and cash to perform the cash of check.

Prior to use the deposit and check features, you must not use the bank account but just use clearing account

JimM

[Former Member]

Thanks Jim for your response, I am aware of deposit feature but that one works for incoming payment and related with customer not supplier. Then you suggest me to use clearing bank instead of bank itself and when the check is matured, then i just make adjustment of clearing account.

AP Supplier Payable

Clearing

GL <Adj> Clearing

Bank

Is that correct? This is quite unfortunate B1 doesn't facilitate this business process since it's very common in Indonesia and in Oracle EBS I could find it. Hopefully B1 will have it in the future not only deposit for customer check but also for supplier check.

[former_member186095]

It is correct (Itu benar).

To propose the future payment date (FPD) in B1, you can post your request in the SBO development and collaboration forum.

You can use work around to solve this issue. Using the udf in the outgoing payment to record FPD and save outgoing payment as draft firsts. Creating the alert message that remind the user when the FPD comes so that user adds the outgoing payment draft.

JimM