Confirm Payment  

Explanation

Use this activity to acknowledge payments. This takes place retroactively, i.e., after the payments have been implemented in accordance with documentation from the financial institutions, or payment institutes. You can enter the currency rate and fees for one or more invoices. The acknowledgement takes place for date, currency, and method of payment.

Prerequisites

This activity requires that a confirmation of the physical payment transfer, document or similar, has been received from the payment institute.

System Effects

As a result of this activity, the creation of the payment can proceed. Since payments are created within the system using the Acknowledge Payment process, invoices and payments on account are removed from the various payment orders. However, no voucher is created until the Create Payment activity has been performed.

Window

Acknowledge Payment Orders

Related Window Descriptions

Acknowledge Payment Orders
Enter Acknowledgement of Payment
Acknowledge Payment Details

Procedure

  1. Populate the window or perform a query to find the payments that you want to acknowledge.
  2. Approve and acknowledge each line by selecting it, right-clicking, and then clicking Enter Acknowledgement of Payment. The Enter Acknowledgement of Payment dialog box opens.
  3. Enter the currency rate on the acknowledgment. Two currency rates must be entered if the payment (invoice) currency, cash account currency, and accounting currency are different. The amount withdrawn from the cash account is determined by the currency rates. 
  4. Enter the respective fees in the appropriate currency. Also enter a fee in the Cash Account for Fee in Accounting Currency field if applicable.  
  5. Click OK.
  6. To enter currency rates for individual invoices, right-click and then click Acknowledge Payment Details. The Acknowledge Payment Details window opens. This window is used to change the payment amount and payment date for individual invoices. You can do this only if the payment has not been confirmed. If the change must be made after the payment has been acknowledged, the acknowledgement can be removed.