Deposits

You use this function Enables users to record cash payments, credit card payments, and check deposits. For the latter, a list of all checks is displayed, so that users can choose the ones they want to deposit. Enables credit card payments to be deposited automatically, depending on agreements with the credit card vendors.

Postdated check deposit

This function dDisplays postdated checks that have to be deposited that day, and enables users to initiate the deposit directly.

Postdated credit card deposit

This function dDisplays postdated credit card payments that have to be deposited that day and enables users to initiate the deposit directly.

To fully utilize this functionality, the following products should be evaluated

Enables companies to issue checks for vendors, employees, and other creditors. Can print checks automatically after they have been entered for payment. The balances of the vendor accounts are updated each time users add a check for payment.

To fully utilize this functionality, the following products should be evaluated

Enables companies to edit and store information on all the credit card vouchers that were entered in the system during the current year. 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 and where, or whether it was endorsed. Users can also use this function to carry out various checks.

To fully utilize this functionality, the following products should be evaluated

To fully utilize this functionality, the following products should be evaluated

Supports an effective reconciliation module that enables fully automatic reconciliation. Enables users to reconcile credit and debit transactions with one another as a means of reconciling any General Ledger account, or to compare cashbook data with the bank's data.

To fully utilize this functionality, the following products should be evaluated

Supports a reconciliation wizard, which can save bookkeepers from hours or even days of work. Uses a sophisticated algorithm to calculate the correct reconciliation automatically, once the reconciliation parameters have been defined.

To fully utilize this functionality, the following products should be evaluated

To fully utilize this functionality, the following products should be evaluated

Supports receipts for customer payment for an invoice that is due, for an open item, or for an advance payment for a product or service that has not yet been delivered or provided. When payments are made to an account, users create an incoming payment for the account.

To fully utilize this functionality, the following products should be evaluated

To fully utilize this functionality, the following products should be evaluated

Supports an automatic payment system that consists of two main processes: payment run and electronic statement. Payment run enables companies to clear Account Receivable (AR) and Account Payable (AP) invoices automatically by creating payment documents and bank transfer files. An easy-to-use Payment Wizard helps users define payment runs for both incoming payments and payment to vendors. Users can also import electronic bank statements into SAP Business One. Using a special bank form, SAP Business One records transactions and lets users initiate an automatic process to add the payment and clear the invoice, according to predefined data.

To fully utilize this functionality, the following products should be evaluated

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.

To fully utilize this functionality, the following products should be evaluated

Supports an automatic payment system that consists of two main processes: payment run and electronic statement. Payment run enables companies to clear Account Receivable (AR) and Account Payable (AP) invoices automatically by creating payment documents and bank transfer files. An easy-to-use Payment Wizard helps users define payment runs for both incoming payments and payment to vendors.

Users can also import electronic bank statements into SAP Business One. Using a special bank form, SAP Business One records transactions and lets users initiate an automatic process to add the payment and clear the invoice, according to predefined data.

To fully utilize this functionality, the following products should be evaluated

Allows users to reverse an entire payment posting and start again with the correct information. It is useful when a payment run encounters unforeseen circumstances, such as a printer jamming, meaning that the recorded data differs from the information actually printed on the checks.

To fully utilize this functionality, the following products should be evaluated

To fully utilize this functionality, the following products should be evaluated

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.

To fully utilize this functionality, the following products should be evaluated

Supports an option to define several account payable accounts per business partner. When a user adds a payment Invoice/Purchase Credit Memo with items marked as fixed assets, the posting has an account payable account different from the regular account payable account in the Financials module.

To fully utilize this functionality, the following products should be evaluated

Supports withholding tax, enabling invoice recipients to withhold a certain portion of the invoice amount and pay this on behalf of the vendor, as required by some tax authorities. Supports alternative tax codes. This is required where different income types are subject to different withholding tax rates. Enables several declaration models to be created, each containing specific types of incomes. Also includes the ability to determine the percentage tax rate, the percentage of the invoiced amount subject to tax, and whether the withholding tax is posted at the time of payment or the invoice date.

To fully utilize this functionality, the following products should be evaluated

Supports tax exemptions. For export transactions, companies can be exempted from paying value-added tax (VAT) if there is a declaration made in the form of a tax exemption letter that is sent to their business partners.

If a company issues a tax exemption letter to its vendors, during the validity period the vendors will invoice the company without VAT. If a company receives a tax exemption letter from its customers the company will invoice these customers without VAT. All invoices, under the VAT exemption, have to show the letter number and the validity date. For each business partner, there is only one valid tax exemption letter. The letter is produced manually by users in an external application, not SAP Business One. The details of the letter are then entered into SAP Business One 6.5 in the business partner master data.

To fully utilize this functionality, the following products should be evaluated