| When you select this action, you approve the reconciliation shown in the window. If you have created a new payment in this window and prepared reconciliation of one or more entries, Maconomy checks whether or not reconciliation can be carried out. If reconciliation is possible, the payment is automatically released for posting and the field “Released” in the island Customer Payment is subsequently marked by Maconomy. Posting of a payment created in this window is done in either the window Customer Payments or in one of the windows Posting or Print Posting Journal in the G/L module.
If you have prepared reconciliation of an already posted payment against one or more entries, use of this action generates a customer reconciliation journal. If the system parameter “Automatic posting of customer reconciliations” is marked, then the generated customer reconciliation journal is automatically posted in the G/L module. If the parameter is not marked, the journal must be posted manually in the windows Posting or Print Posting Journal in the G/L module.
Once you have approved one or more entries for reconciliation, they cannot be edited in this window.
Note: Note that a user can only use this action if he has been granted access to release customer payments for posting in the window Actions in the Set-Up module.
If a reconciliation gives rise to an amount variance or an exchange rate variance, and if you have specified a value in the system parameter “Margin For Customer Payment Variances,” Maconomy will reconcile the payment against the selected customer entries at the time of posting, if the difference between the amount of the payment and the amount on the entry (-ies) is within the margin specified in the parameter. Maconomy automatically uses the margin (amount or percentage) resulting in the lowest amount. Amount variances are posted on an account for customer payment variances by means of a posting reference. If you do not specify a margin, or if the current difference between a payment amount and a customer invoice is greater than the margin, or if the difference cannot be reconciled, the reconciliation and closing of the invoices must be done manually, or you can choose to have the amount variance posted as cash discount on the selected entries. Please note that the functionality of the above mentioned parameter is only available if you have not marked the system parameter “Manual Release of Customer Payments.” The posting reference for customer payment variances is specified in the window Posting References in the G/L module.
If the reconciliation gives rise to a cash discount, Maconomy verifies that the amount added to any existing cash discount does not exceed the cash discount limit which applies to the customer in question. This limit is the percentage specified in the field “Max. Cash Discount” in the cash discount code specified for the current customer in the window Payment Information. Maconomy transfers the cash discount to a customer reconciliation journal, which must be posted in the window Posting in the G/L module or in the window Customer Payments.
If you have set up the table part of the window Dimension Derivations in the G/L module to derive dimensions from the payment when posting customer reconciliations, the dimensions from the payment in the card part will be copied to any exchange rate variance entries and cash discount entries created when the reconciliation is posted. For further information, see the field “Action” in the table part of the window Dimension Derivations.
Fully reconciled open entries change status to closed entries which can be reviewed in the window Show Customer Reconciliation.
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