In the previous article NET Genium ERP – Incoming invoices and their approval we got acquainted with the incoming invoices and the system of their approval within the Finance module.
We will now show you how to generate payment orders, create wire transfers and statements. These instructions, together with links to explanations of the terms used, can also be viewed online on the website https://www.netgenium.com/en/help/erp/finance-help.
Generating payment orders
Click on the “Finance” application group in the upper gray bar. Before generating payment orders, it is first necessary to select the incoming invoices or liabilities to be paid by the order. In the applications “Incoming invoices” and “Other receivables/payables” on the view page “Invoices to pay” and “Other payables to pay”, we mark the required documents by checking the box in the column “For payment”. You can also find this field in the form of incoming invoice, incoming advance invoice or other liability on the “Dates” tab. Once we have selected all the documents for which we want to generate a payment order, we click on the application “Data communication”. The view page “Payment orders” will be displayed.
Pressing the “Generate payment order” button will generate payment orders in the ABO electronic format (file with the extension “kpc”). We will then digitally sign them and upload them to the electronic banking system. Depending on the specific bank, the bank's own client application can be specified for this purpose, or the import of payment orders takes place classically via a web interface (internet browser).
Export accounting documents
Invoices and cash vouchers can be very easily exported to the formats of three accounting systems. In the “Data communication” application, click on the view page of the program into which you want to load accounting documents (Money or Pohoda). On this page, just click on the “Export documents” button. The output of this operation is a compressed data file that can now be quickly imported into our accounting program.
Making bank payments
Mass creation of bank payments from statements
Within the “Bank” application, we can create bank payments in mass by importing bank statements into NET Genium. Click on the “Bank statements” view page and the “Bank statement” button. We will upload the relevant bank statement in ABO format (file with the extension “gpc”) as an attachment to the record. After uploading the statement to NET Genium, the other fields of the statement will be filled in automatically. We will save the record. After saving the record, the relevant wire tranfer records that were included in the statement will be created automatically.
PaymentService
Wire transfers can also be automatically generated using the PaymentService service. This service allows invoices and other payables in NET Genium to be automatically marked as paid already during communication with the bank. Therefore, it automatically creates wire transfer and assigns them to the corresponding documents.
How does PaymentService work?
- PaymentService checks e-mails sent by the bank about incoming and outgoing payments; the bank must therefore support the sending of these messages
- Payments are automatically paired with the relevant documents in NET Genium based on a variable symbol and amount
- Paired documents are automatically marked as paid
- After successfully matching the payment with the document, a message is automatically sent to the entity
Creating a wire transfer
The import of bank statements and, in particular, the PaymentService service are the fastest automated ways of making wire transfers. However, the last creation option is also the manual creation and editing of payment records.
Click on the “Bank” application, then on the “Wire transfers” view page, then on the “New wire transfer” button. Fill in the payment status in the open edit form. “Assigned” means that the payment is assigned to a specific bank document – we will select this document in the “Settlements” section using Picker (more about using Picker in the general help Edit forms). An not assigned wire transfer means that there is not yet a document to which the payment could be assigned or the payment has not yet been assigned to such a document. The “no link” option then indicates payments that are not linked to any document. After filling in the other wire transfer details, we will save the record.
Contents of the next article
In the following article NET Genium ERP – Cash, other receivables and payables we will get to know the work with the cash register and other receivables/payables in more detail within the Finance module.
Sincerely, Your NetGenium Team.