How much time do you spend entering and verifying payment transactions? How about entering and verifying non-invoice related charges? We’re guessing it’s a day-long process.
Find out how you can turn customer billing payment processing in QAD into a quick 10 minute routine transaction. Using a real-life case study, we’ll show you a quick and easy way to open all customer invoices from QAD and match them with the customer payments – whether you use bank statements, customer files, or EDI 820.
Variances are posted to the accounts/sub-accounts/cost centers specified by the user during payment processing. Default accounts are displayed based on the System Control file and Customer Master and can be modified by user. Customized default accounts logic can be also configured using generalized codes.
How does this handle Term Discounts?
Available Term Discounts are shown in the Discount Available column and calculated automatically when the customer document it downloaded from QAD. Available Term Discounts can then be applied during payment processing.
How does it handle multiple remit formats?
The tool can be configured to extract payment details from a variety of files with different remit formats.
Will this handle deduction codes?
There is not a Deduction Code from a QAD functionality perspective, but QAD does use the term “Extra Charge” which may be the same as “Deduction Code.” An extra charge can be any amount related to the specific QAD AR document or customer in general, such as a bank charge, a transaction processing fee, certain types of discounts, etc. Extra charges are booked to specified accounts/sub-accounts/cost centers and are processed in QAD as non-AR documents or unapplied payments, whichever is applicable.
Is the customer PO# displayed when looking up open invoices?
In the version demonstrated, the customer PO is not shown. However, the tool can be configured to show this information.
How are rounding differences processed?
Rounding differences (both positive and negative) between the payment amount and the open amount can be processed either as non-AR charge to a specified account/sub-account/cost center or as an unapplied payment.
How are foreign currency payments processed?
The payment transaction currency and internal Bank Code need to be specified prior to payment processing in QAD. Payment currency will be automatically validated against QAD Bank Code and QAD bank/cash GL account.
We are on 2013EE will all this work with it?
Unfortunately, this tool along with our other Financial Data Loaders, works only with QAD SE versions. All of our other Data Loaders work with both SE and EE versions of QAD.
When will it be available for 2013EE?
The logic for processing payments with QAD EE versions differ greatly from the functionality of this tool. There are no current plans to modify this tool for use with QAD EE versions.
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