Create a Claim
Use these steps to create a claim.
- Go to Bankruptcy Management > Claims > Claims.
- In the Vendor No. field, enter the number of the vendor you want to pay.
- When you enter a vendor number, the vendor’s name automatically displays in the Vendor Name field.
- In the Currency field, select a currency from the drop-down list.
- In the Original Claim Amount field, enter the original claim amount to be paid to the vendor.
- In the Priority Level field, select the priority level for the payment of this claim.
- In the Claim Date field, enter the date when the claim was filed.
- In the Recommended for Approval field, enter the recommended claim amount to be paid to the vendor.
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In the
Negotiation Date field, enter the date when the amount to be paid was discussed with the claimant.
Note: If you do not enter a negotiation date, the Rejected Claim Amount field is auto-populated with the original claim amount.
- In the Approved Claim Amount field, enter the approved amount that must be paid to the vendor.
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In the
Selected for Payment field, there are two options:
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Enter the amount to be paid manually.
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Use the Select for Payment action in Bankruptcy Management > Claims > > Claims Handling to open the wizard. This action allows you to determine the percentage or distribution amount to be paid.
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Use the
Transfer for Payment action in
Bankruptcy Management
> Claims >
> Claims > Handling to create a general journal entry for this claim payment that is ready for posting.
This also auto-populates the Transferred for Payment and Remainder fields on the line you created in the Claims sub-tab. The value in the Selected for Payment field is also automatically changed to zero to indicate the payment is transferred. This also creates a general journal and general journal entries in Bankruptcy Management > Accounting > General Journal.
Parent Topic: Bankruptcy Management Steps