Create a Claim

Use these steps to create a claim.

To create a claim:

1. Go to Bankruptcy Management > Claims > Claims.
2. In the Vendor No. field, enter the number of the vendor you want to pay.
3. When you enter a vendor number, the vendor’s name automatically displays in the Vendor Name field.
4. In the Currency field, select a currency from the drop-down list.
5. In the Original Claim Amount field, enter the original claim amount to be paid to the vendor.
6. In the Priority Level field, select the priority level for the payment of this claim.
7. In the Claim Date field, enter the date when the claim was filed.
8. In the Recommended for Approval field, enter the recommended claim amount to be paid to the vendor.
9. 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.
10. In the Approved Claim Amount field, enter the approved amount that must be paid to the vendor.
11. In the Selected for Payment field, there are two options:

    • Enter the amount to be paid manually.

    • 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.

12. 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.