Customer Open Entry Reconciliation Single Dialogs Workspace

Use this workspace to enter customer payments and credit memos and reconcile them against customers' open entries, in total or in part. Maconomy closes an entry when it is fully reconciled.

Select one, several, or all of a customer's open entries for reconciliation in one workflow. You can reconcile already posted payments against customers' open entries, in total or in part.

You can reconcile already posted payments against customers' open entries.

This workspace also lets you handle any charges in connection with the customer payment.

In the Customer Open Entry Reconciliation tab, Maconomy displays a payment or credit memo, as well as other information about the assigned customer. The payment is either a new entry or a previously posted customer payment. The A/R Entries sub-tab displays any additional open posted entries for the customer, such as invoices, interest entries, reminder entries, and currency adjustment entries, as well as other payments and credit memos that have not been selected for reconciliation by another user in this workspace or in the Customer Payments workspace in this module or the General Journal workspace in the G/L module.

If you create a payment in this workspace, you can enter ranges of customer-related information such as customer and company numbers, invoice dates, due dates, and amounts in the Selection Criteria island, or you can search for this information using the Find menu. You can thus use this workspace for correct identification of a certain customer and for delimiting the number of open entries to be displayed in the A/R Entries sub-tab. Note that you must select the Show Lines field in the Show Lines island for Maconomy to display open entries in the A/R Entries sub-tab.

To ensure maximum flexibility in this workspace, information flows from the Customer Open Entry Reconciliation tab to the A/R Entries sub-tab, and vice-versa. If you create a payment and entered ranges of customer numbers, due dates, or invoice dates in the Selection Criteria island, that information flows to A/R Entries sub-tab, which then only displays open entries that apply to the specified selection criteria. Conversely, if you select an open entry for total or partial reconciliation in the A/R Entries sub-tab, information that you provide for the entry in question automatically flows to Customer Open Entry Reconciliation tab.

You can create a payment in this workspace without entering an assigned customer or an assigned settling company. However, you cannot release such a payment for posting unless you provide a customer number and a settling company for the payment.

Because payments can be made in one currency, invoiced in another, and reconciled in a third currency, Maconomy displays the amounts that are related to a payment in the relevant currencies in the Customer Payment and Reconciliation Information islands. These islands contain fields that display the current payment amount, remainder amount, variances, and so on, in the relevant currencies (the base currency of the assigned company, the currency of the current customer payment, and the currency in which reconciliation is performed). If the original currency (the currency of the original invoice or credit note) and the currency in which payment is made are identical, Maconomy performs the reconciliation in the original currency; otherwise, Maconomy performs the reconciliation in the standard currency of the customer in question.

At reconciliation, which is performed when the reconciliation is approved, Maconomy checks whether the selected entries can be reconciled against the current payment. This check is performed based on a predefined margin for reconciliation, which you enter in the Margin For Customer Payment Variances system parameter.

If a reconciliation causes an amount variance, and if you entered a value in the Margin For Customer Payment Variances system parameter, Maconomy reconciles the payment against the selected customer entries at the time of posting if the difference between the amount of the payment and the amount of the entry or entries is within the margin that you entered in that system parameter. You post amount variances on an account for customer payment variances by using a dimension combination that you enter in the Posting References workspace in the G/L module. If you do not provide a value in the system parameter, or if the difference between a payment amount and a customer entry is larger than the margin, you must perform the reconciliation and closing of the entries manually, or you can choose to have the amount variance posted as a cash discount on the selected entries.

An exchange rate difference occurs when the exchange rate is different for two entries that reconcile each other. The following example illustrates this. A customer that uses GBP as its standard currency has received an invoice for 100 GBP. The exchange rate is 80. When you receive payment, the exchange rate has increased to 85. This produces an exchange rate variance of 5 base currency units when the payment is reconciled. These types of exchange rate variances are added to a customer reconciliation journal, which is posted in the Posting workspace in the G/L module. You define the posting reference to the Customer Exchange Rate Gain or the Customer Exchange Rate Loss account by using a dimension combination in the Posting References workspace in the G/L module.

If you have set up the Dimension Derivation Rules sub-tab in the Dimension Derivations workspace in the G/L module to derive dimensions from the payment when posting customer reconciliations, the dimensions from the payment that is displayed in the Customer Open Entry Reconciliation tab in the Customer Open Entry Reconciliation workspace are copied to any exchange rate variance entries and cash discount entries that Maconomy creates when you post the reconciliation. For more information, see the Action field in the Dimension Derivation Rules sub-tab in the Dimension Derivations workspace.

If you want to fully reconcile all of the open entries that the A/R Entries sub-tab in the Customer Open Entry Reconciliation workspace displays against the payment that the Customer Open Entry Reconciliation tab displays, you can use the Mark All For Reconciliation action. However, this action is only available if the sum of all remainder amounts to be reconciled equals the payment amount that the Customer Open Entry Reconciliation tab displays.

You use the Release for Posting action to release for posting payments that you enter in this workspace that you do not select for reconciliation.

When you create a payment in this workspace and select one or more entries for reconciliation of the payment, Maconomy automatically releases the payment for posting when the reconciliation is approved. If you have reconciled entries against an already posted payment, the reconciliation approval generates a customer reconciliation journal that you must post.

Depending on the setting of the Automatic posting of customer reconciliations system parameter, Maconomy might automatically post the customer reconciliation journal when you use the Approve Reconciliation action. If you select that system parameter, Maconomy posts the journal automatically when you approve the reconciliation. If do not select the system parameter, you must post the reconciliation manually in the Posting or Print Posting Journal workspace in the G/L module. This also applies to the removal of reconciliations in the Show Customer Reconciliation workspace.

Note also that if you select the Automatic Reconciliation field in the Payment Information workspace, Maconomy automatically reconciles payments and credit memos with the oldest open entry. This means that a customer who has a debit balance cannot have open credit entries, and that the open debit entries are always the newest in the system. Similarly, a customer who has a credit balance cannot have open debit entries, and the open credit entries are always the newest in the system.

In the General Journal workspace in the G/L module, you can enter an invoice number on a payment entry as you can in this workspace. This means that Maconomy automatically reconciles the payment and closes the invoice entry when you post the general journal. This function operates independently of the Automatic Reconciliation field in the Payment Information workspace.