Update Payment Transactions

Note! This manual is developed for the MKG004 software. If you are using MKG5 or MKG3, the description of the operation may differ slightly from your environment. We aim to provide a product-specific description for this topic in the future.

When opening this module, a choice must first be made for a journal where entries will be made:

When a journal is selected, MKG will also fill in the first new document number (for example, the bank statement number), provided that document numbering is indicated in the journal settings. The payment transactions for one document number can be updated on the four tabs 'Debtor', 'Creditor', 'General Ledger', and 'Telebanking'. A final balance can be entered for verification. When closing the module, MKG checks whether the cumulative mutations match the entered amount. The four tabs within the module are discussed in the following sections.

Debtor Tab

In the first two fields, you must choose a debtor or the number of an outstanding item. After selecting a debtor, the outstanding items are immediately presented in the white section of the window:

In the Received field, you must enter the amount received from the debtor. The amount will be displayed in red under 'Still to be accounted for'.

An Example

In the window below, one outstanding item is selected. The total received amount is entered and amounts to € 3,296.38, which means another outstanding item has been received:

By checking the second outstanding item (€ 952), too much would be written off from the outstanding items. By selecting the second line and clicking on Modify, the amount received as a partial payment (€ 852) for this outstanding item can be adjusted in the next screen (the remainder is € 100 shown under 'Outstanding after processing'):

After clicking OK, the change is saved. The processing of the selected lines only occurs when the green checkmark is clicked in the upper left corner of the screen. Upon processing, the indicated amount will be written off this outstanding item, leaving € 100 outstanding. The amount 'Still to be accounted for' is € 0. By saving the entry, the screen is cleared, and the next amount on the bank statement can be processed.

It is also possible to check the received invoices without first entering the total received amount and then automatically fill in the total received amount using the F5 function key. This method has the drawback that checking the accuracy of individual entries is more difficult and any booking differences only become visible when closing a complete bank statement.

Creditor Tab

The functionalities for processing payments to creditors are the same as the possibilities for booking receipts from debtors. We use this tab only if telebanking is not used. If telebanking is used, the 'Creditor' tab is not used for payments, but the 'Telebanking' tab is. The 'Creditor' tab looks like this when a creditor is selected:

The amount paid can be indicated, and then the outstanding items that are paid with the amount can be selected. If an outstanding item involves a partial payment, the paid amount can be adjusted with Modify. The handling of this outstanding item can be done in the same way as with debtors: after processing the entry by the button in the upper left corner of the screen, with the green checkmark, the window is cleared, and a new item can be entered.

It is also possible to check the paid invoices without first entering the total paid amount and then automatically fill in the total paid amount using the F5 function key by the software. This method has the drawback that checking the accuracy of individual entries is more difficult and any booking differences only become visible when closing a complete bank statement.

The document number does not always change automatically. This depends on the settings of the chosen journal. In this case, the bank statement number is used as the document number: multiple mutations are on one document number.

Payments received or made while no invoice has been booked yet can be processed as advance payments. The user enters an amount and description, after which MKG creates an extra (credit) open item. Writing off debit and credit notes is also possible in MKG. The memorial journal must be used for this in the Payment Transactions module.

If payments and/or receipts occur within the set period, MKG takes into account the amounts that may be deducted as payment discounts or credit limitation surcharges. If the payment term is exceeded, a general ledger account can be manually selected where the deviation must be booked via the Deviation Acct. button.

General Ledger Tab

On the 'General Ledger' tab, receipts and expenditures can be booked directly to a general ledger account. It is possible to link these to a production order, semi-finished product, and/or material line:

After saving the booking, the screen is refreshed and cleared. A new booking can be entered in any tab.

General Ledger Tab with VAT Handling

The table below presents VAT handling when booking amounts via the 'General Ledger' tab. The starting point for this table is a booking involving the booking of costs or revenue.

Telebanking Tab

On the 'Telebanking' tab, batch files can be selected where the payments are listed on a specific bank statement. Under the Batch field, a search window is available where a payment file can be searched:

When a batch is selected, the payments will be presented and marked. When it is marked which payments may be processed, the booking can be saved. If not all payments are marked and the booking is saved, the following message appears on the screen:

If it is chosen to remove the unmarked payments, they are removed from the payment batch. If it is not chosen to remove the unmarked lines, the payment batch can be retrieved again in the payment transactions. The unmarked/processed lines remain open in the relevant payment file. If lines are removed from the payment batch, the associated open creditor items remain.

Bank Accounts in Foreign Currency

When using a bank book in a currency other than the administrative currency, open items are processed in both the order and administrative currency. If exchange rates change between the time of invoicing and the time of processing payment, an exchange difference is recorded using the deviation account. For this, two separate fields are available in the booking screen for difference, expressed in Invoice Currency and Administrative Currency:

Financial: index

Related

• Updating manual entries
• Journals
• Journal entries
• Importing bank statements