Asis Tobe for AP | Payments

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Account Payable The AP application component records and manages accounting data for all vendors. Using this component we can process the business transaction relating to vendor accounts i.e., purchase, payment (part/full Payment), advance payment, return, TDS etc. AS IS:  The payment terms are used for vendor payments are PT01 (ABC) and PT02 (For all other).  Vendor payments are made at Corporate Office Level.  For trading purpose Vendors are two types: Trade vendors and Non-trade Vendors.
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    Account Payable The AP application component records and manages accounting data for allvendors.Using this component we can process the business transaction relating to vendoraccounts i.e., purchase, payment (part/full Payment), advance payment, return,TDS etc. AS IS:    The payment terms are used for vendor payments are PT01 (ABC) and PT02(For all other).    Vendor payments are made at Corporate Office Level.    For trading purpose Vendors are two types: Trade vendors and Non-tradeVendors.    Trade Vendor masters are maintained by Purchase Dept. and Non-tradeVendor masters are maintained by Accounting Dept.    ABC Motor International is dealing with occasional vendors by using thesystem one time vendor capability.    ABC Motor International has three vendor groups i.e., Local, Foreign andOne-Time Vendors.    ABC Motor International is using internal number assignment for Local andForeign Vendors and external alphabetic number assignment for One-timeVendors.    In the field status for account groups, payment method is a mandatoryfield.    For one-time vendors line item display should be sort by name and city.     ABC International is Vendor for AMI Marketing.    INR is used for Local Vendors and USD for Foreign Vendors.    All delivery of materials is entered as goods receipt with invoice verificationperformed by accounting dept.    The term of payment in the master record are defaulted for documententry.    Create Recon. Accounts in the General Ledger and have to indicate thatthey are Recon. Accounts.    Display vendor line items and drill down to srcinating documents.  TO BE:    Supplier invoice Verification with reference to PO/GRN only.    Accounting of Invoices without formal Purchase Orders    APP / Manual payment process with covering letter (covering lettercontains the details for payment).    Payment should be paid with Automatic Payment Program (APP).    By using APP we can clear open items in a queue as per due datesmentioned in the invoice.    For clearing partial payment we can use both Partial and Residual Paymentprocess.    System to pop up the advance at the time of accounting the vendor invoice    Line item display and open item management are defined automatically forall the vendor.     Provision for adjustment of partial advances.    Vendor master will be maintained at Client level.    Using the concept of account group, data should be organized.    To avoid data redundancy we don’t need to creat e separate vendor masterrecord for one time vendor, we can provide necessary information attransaction level.
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