Banking

What is the main purpose of the Payment Wizard?

To create outgoing and incoming payments in batches for bank transfers, checks, and bills of exchange. [cite: 32]

Which types of incoming payments can the Payment Wizard create?

Incoming bank transfer payments. [cite: 35]

Which types of outgoing payments can the Payment Wizard create?

Outgoing checks and bank transfer payments. [cite: 36]

What types of documents does the Payment Wizard process?

A/P and A/R documents and transactions that are not fully paid, credited, or reconciled, including unallocated payments on account. [cite: 37, 38]

What does the Payment Wizard create if payments are bank transfers or direct debits?

It creates payment files in the correct country-specific format. [cite: 39]

What is the 'Payment Order Run' option in the Payment Wizard?

It creates a bank file but does not create journal entries or close invoices immediately; closure happens after bank confirmation. [cite: 40, 41]

What are the main steps/selection criteria stages in the Payment Wizard?

1. [cite_start]Payment Run Selection, 2. General Parameters, 3. Business Partners Selection, 4. Document Parameters, 5. Payment Method Selection. [cite: 47, 48, 49, 50, 52]

What information is specified in the 'General Parameters' step of the Payment Wizard?

Next payment run date, payment type (outgoing/incoming), payment means (check/transfer), document series for payments. [cite: 60]

What is generated after defining the selection criteria in the Payment Wizard?

A recommendation report or list of suggested payments. [cite: 64]

What does the 'Non-Included Transactions' button show in the Payment Wizard recommendations?

A list of all open items that met initial criteria but could not be included in the payment run recommendations (e.g., due to missing data). [cite: 67]

What happens if you choose 'Save Selection Criteria Only' in the Payment Wizard?

Saves the criteria for later use but does not reserve the selected open transactions. [cite: 92, 93]

What happens if you choose 'Save Recommendations' in the Payment Wizard?

Saves the criteria and the recommended payments, reserving the selected open transactions for this run only. [cite: 94, 95]

How can you delete a saved 'Recommended' payment run?

In the first step of the wizard, select the run, right-click, and choose Cancel. [cite: 96]

What does the 'Execute Payment Order Run' option do?

Creates the bank file, leaves invoices open, and creates no journal entry, pending bank confirmation. [cite: 97, 98]

What does the 'Execute Payment Run' option do?

Creates the payment documents and associated journal entries immediately. [cite: 100]

What does the 'Execute Payment Run on Server' option allow?

Allows scheduling the payment run execution for a later, specified time. [cite: 101]

Does a payment created by the Payment Wizard typically consolidate multiple invoices for one BP?

Yes, unless the 'Single Payment' option is checked in the Business Partner master data. [cite: 116, 117]

What SAP Business One add-on is used to define and modify bank file formats for the Payment Wizard?

The Electronic File Manager (EFM). [cite: 119, 120]

What needs to be done after printing checks generated by the Payment Wizard?

Use the 'Check Number Confirmation' function to confirm the check numbers assigned by the system. [cite: 122, 123]

What is the main control instrument for the Payment Wizard process?

Payment Methods setup. [cite: 165]

What key information is defined within a Payment Method setup?

Payment Type (Incoming/Outgoing), Payment Means (Check/Transfer), House Bank details, Validation checks, G/L Interim Accounts (optional). [cite: 167, 168, 171, 172]

How are Payment Methods linked to Business Partners?

On the 'Payment Run' tab of the BP master data, you select the 'Include' checkbox for applicable methods. [cite: 221, 222]

Can you assign a default Payment Method for a specific Business Partner?

Yes, one included method can be set as the default on the BP's 'Payment Run' tab. [cite: 225]

Can a specific Payment Method be assigned directly within an A/P or A/R invoice?

Yes, overriding the BP default for that specific document. [cite: 227]

What banking setup is required before using the Payment Wizard effectively?

Defining Banks and House Bank Accounts. [cite: 228, 230]

Where are the vendor's bank details entered for use in outgoing bank transfers via the Payment Wizard?

In the vendor's Business Partner Master Data, under the 'Payment Terms' tab (Bank details section). [cite: 231, 232]

What is Bank Account Reconciliation also known as in SAP Business One?

External Reconciliation. [cite: 300, 301]

What is the purpose of External Reconciliation?

To match transactions recorded in the SAP Business One house bank G/L account with the transactions reported on the external bank statement. [cite: 298, 316]

What does SAP Business One do to transactions after they are successfully matched in an external reconciliation?

Flags those transactions as externally reconciled. [cite: 317]

What is the definition of Internal Reconciliation?

Matching and clearing open credit items against open debit items within a single SAP Business One account (G/L or BP). [cite: 328]

Is Internal Reconciliation the same as External Reconciliation?

No, Internal Reconciliation happens within SAP B1 accounts, while External Reconciliation compares SAP B1 data to an external statement. [cite: 320]

What are the three options available in SAP Business One for performing External Reconciliation?

1. [cite_start]Reconciliation, 2. Manual Reconciliation, 3. Bank Statement Processing (BSP). [cite: 352]

Which external reconciliation option involves importing/entering the bank statement first, then matching SAP B1 transactions side-by-side?

Reconciliation. [cite: 370, 371, 372]

Which external reconciliation option requires entering the bank statement's ending date and balance, then clearing SAP B1 transactions against that balance?

Manual Reconciliation. [cite: 387, 388, 389]

Which external reconciliation option is designed to automate handling of bank statements, often used with frequent bank transfers?

Bank Statement Processing (BSP). [cite: 411, 412]

Is the 'Reconciliation' option for external reconciliation supported in all localizations?

Yes. [cite: 369]

Is the 'Manual Reconciliation' option supported in all localizations?

No, it's supported in specific localizations like Australia, Brazil, Canada, China, UK, US, etc. [cite: 386]

Is the 'Bank Statement Processing (BSP)' option supported in all localizations?

Yes. [cite: 416]

In the 'Reconciliation' option, what reconciliation types can be chosen?

Manual, Automatic, or Semi-Automatic (similar to internal reconciliation). [cite: 374]

What is a key feature of the 'Manual Reconciliation' option regarding adjustments?

It allows creating adjustments (like deposits, JEs, payments) directly from the reconciliation screen to resolve differences. [cite: 393, 394]

What can the Bank Statement Processing (BSP) function automate?

Generating incoming/outgoing payments and performing internal/external reconciliations based on imported bank statement data. [cite: 414]

What is crucial for the efficiency of the Bank Statement Processing (BSP) functionality?

Accurate setup relevant to the business's specific banking transactions and rules. [cite: 417, 419]

An outgoing payment is made to pay an A/P Invoice. What two types of reconciliation should occur?

1. Internal Reconciliation (Vendor account: Payment vs Invoice). 2. [cite_start]External Reconciliation (Bank G/L account vs Bank Statement). [cite: 433, 434]

What are the four main payment means available for Incoming Payments?

Cash, Check, Credit Card, Bank Transfer. [cite: 5265, 5266, 5268, 5302]

For Incoming Payments using Cash, Check, or Credit Card, which type of G/L account is typically debited initially?

A Clearing Account (or Temporary/Suspense Account). [cite: 5289, 5294]

What document is used to transfer funds from a Clearing Account (Cash/Check/Credit Card) to the main Bank Account?

Deposit document. [cite: 5298]

What journal entry occurs when an Incoming Payment is made via Cash?

Debit Clearing Account (Cash on Hand), Credit Customer Account. [cite: 5294, 5295]

What journal entry occurs when a Cash Deposit is made?

Debit Bank Account, Credit Clearing Account (Cash on Hand). [cite: 5298]

What journal entry occurs when an Incoming Payment is made via Check?

Debit Clearing Account (Checks Received), Credit Customer Account. [cite: 5613]

What journal entry occurs when a Check Deposit is made?

Debit Bank Account, Credit Clearing Account (Checks Received). [cite: 5614]

For Incoming Payments using Bank Transfer, which G/L account is debited directly?

The House Bank Account (no clearing account involved). [cite: 5311, 5313]

What journal entry occurs when an Incoming Payment is made via Bank Transfer?

Debit Bank Account, Credit Customer Account. [cite: 5313]

What are the three main sections of the Incoming/Outgoing Payment document window?

1. [cite_start]Document Header, 2. Open Invoices/Memos/JEs Selection Area, 3. Totals/Remarks Area. [cite: 5338, 5339, 5340]

In the payment document's transaction table, what does an asterisk (*) next to a document indicate?

The document is currently due (Due Date <= Posting Date). [cite: 5436, 5437]

What does the 'Total Payment' column in the payment document table represent by default?

The outstanding Balance Due for that transaction. [cite: 5440, 5441]

What does the 'Doc. [cite_start]Type' column indicate in the payment document table?

The origin of the transaction (e.g., IN=Invoice, CN=Credit Memo, JE=Journal Entry). [cite: 5487, 5488]

What does selecting 'Payment on Account' in a payment document allow?

Allows recording a payment amount that is not applied to any specific open transaction listed. [cite: 5540, 5541]

What does the 'Total Amount Due' field in the payment document footer represent?

The sum of the 'Total Payment' amounts selected in the table plus any 'Payment on Account' amount. [cite: 5542]

After determining the total payment amount, what must the user specify next?

The Payment Means used (Check, Bank Transfer, Credit Card, Cash). [cite: 5555]

Can a single payment document be split across multiple payment means (e.g., part cash, part check)?

Yes. [cite: 5560]

What system action closes the open invoice(s) selected in a payment document?

Adding the payment document (which posts the JE and performs internal reconciliation). [cite: 5562]

What is the purpose of the Deposit document?

To record the transfer of funds (Cash or Checks) from a clearing account to a house bank account. [cite: 5580, 5581]

Can you cancel a Deposit document after it has been added?

Yes, SAP Business One supports cancellation scenarios for payments and deposits. [cite: 5620, 5621]

Can you cancel just one check from a deposit that included multiple checks?

Yes. [cite: 5624]

How does the typical journal entry for an Outgoing Payment (Check/Bank Transfer) differ from an Incoming Payment (Check)?

Outgoing Payments usually credit the Bank Account directly, without using a clearing account by default. [cite: 5649, 5650]

What is debited and credited in a typical Outgoing Payment JE for an A/P Invoice?

Debit Vendor Account, Credit Bank Account. [cite: 5647, 5648]

How can you make an Outgoing Payment use a clearing account instead of crediting the bank directly?

Manually enter the clearing account in the Payment Means window, use the Payment Wizard configured with a clearing account, or use Bank Statement Processing. [cite: 5651, 5653, 5655]

Which tool can automate the posting of the transfer between a clearing account and the bank account for outgoing payments?

Bank Statement Processing (BSP). [cite: 5656]

What defines a payment method?

A combination of type (incoming/outgoing), means (check/transfer), house bank, and validation rules used to control the payment process. [cite: 165-172]

Where are payment methods assigned to business partners?

On the Payment Run tab in the Business Partner Master Data. [cite: 221]

Can a user override the default payment method for a specific invoice?

Yes, by entering the desired payment method directly in the invoice document. [cite: 227]

What function allows creating batch payments based on selection criteria?

The Payment Wizard. [cite: 32]

Which report shows open items that were NOT included in a Payment Wizard run?

The Non-Included Transactions report, accessible from the recommendation step. [cite: 67]

What is the difference between 'Execute Payment Run' and 'Execute Payment Order Run'?

Execute Payment Run creates payments and JEs immediately. [cite_start]Execute Payment Order Run creates a bank file but postpones JE/invoice closure until bank confirmation. [cite: 97, 100]

What tool helps define country-specific bank file formats?

Electronic File Manager (EFM) add-on. [cite: 119]

What is the purpose of Bank Reconciliation / External Reconciliation?

To compare and match transactions in the company's bank G/L account with the bank's statement. [cite: 298, 300]

Which external reconciliation method compares SAP B1 G/L transactions side-by-side with imported bank statement lines?

The 'Reconciliation' function. [cite: 371, 372]

Which external reconciliation method focuses on matching SAP B1 G/L transactions to the bank statement's ending balance?

Manual Reconciliation. [cite: 387, 389]

Which external reconciliation tool can automatically create payments and perform reconciliations based on bank file import?

Bank Statement Processing (BSP). [cite: 414]

What is the typical flow for incoming Cash payments?

Invoice -> Incoming Payment (Customer Cr, Cash Clearing Dr) -> Deposit (Cash Clearing Cr, Bank Dr). [cite: 5289, 5294, 5298]

What is the typical flow for incoming Bank Transfer payments?

Invoice -> Incoming Payment (Customer Cr, Bank Dr). [cite: 5311, 5313]

What does the Deposit document achieve financially?

It moves the value from a temporary clearing account (like Cash on Hand or Checks Received) to the actual bank account G/L. [cite: 5580, 5581]

How does the JE for an Outgoing Payment via Bank Transfer typically differ from an Incoming Payment via Bank Transfer?

Outgoing typically credits the Bank account directly, while Incoming debits the Bank account directly (or via Deposit from clearing). [cite: 5313, 5648, 5650]

Is it possible to cancel a payment after its associated check has been deposited?

Yes, SAP Business One provides functionality to handle various cancellation scenarios. [cite: 5623]

What information is needed in the BP Master Data for the Payment Wizard to create outgoing bank transfers?

The vendor's bank account details, usually entered on the Payment Terms tab. [cite: 231, 232]