Tips and Tricks  

Close up: we explore the main highlights of the procedure for entries compensation

Edited by Marketing Department 

The procedure for customer/supplier entries Compensation in Financial-Accounting Area lets you set a compensation proposal and print or send a compensation letter to the customer.

The process is especially useful for companies working with customers who are also suppliers, and vice versa, because it allows users to manage all phases of entries compensation. You can manage the entire process: from the initial setting of the payments you want to balance, to the letter you will send to ask your customers consent, to the approval of the request, until the pure accounting movement generated by the compensation. In, this procedure joins the full payment and other closure entries processes, integrating itself on all localizations.

The customers and suppliers entries compensation procedure allows you to view all the entries generated by invoices, debit / credit notes of the same customer / supplier, keeping all deadlines in a single screen; you can also choose which rate compensate each other, instantly displaying any amount differences.

Thanks to then you generate the letter requesting compensation for your customer and, in case of approval, automatically generate the resulting closing entries movements in petty cash book; if the customer does not accept the proposal, you can automatically cancel the compensation data on the rate.

The procedure is able to manage the most different compensation rate: in contentious, for customers / suppliers with blocked payments - by appropriate messaging - or in foreign currency - automatically recording exchange differences occurred between the date of the document and its approval- or even from documents in tax suspension and from percipient that generate automatic transfers of tax, deductions and payable contributions.

Special reports integrate the procedure allowing you to view and / or print the lists of all possible compensations, to be approved and approved for customer or group of customers, numbers of compensation, for rates deadlines. Thus, the list of possible compensation provides you a summary of all the open entries, while the other lists provide you a clear overview of the compensation that have yet to be approved and those successfully completed.

The procedure for customer/supplier entries compensation is a 3.11 feature able to create additional value in Financial-Accounting area. To find out all the features and tools available for different editions, we suggest you take a guided tour of the product ... you will discover all the functionalities that best fit your business. Want to know more? Leave your details and you will be contacted soon. If you are already a user you can referr to your dealer for more information.