Hi,

When a payment is made for an invoice and when the relevant invoice identity is connected to the invoice the invoice will change status as paid posted and eventually not be included in the reminder proposals created.

Bit confused on the statement of manually changed to paid, Could you explain further on this like in which screen and etc

BestRegards,

what i mean here, is when the customer payment done to the bank, is there a systematic way to update in IFS system - Payments? 

Hi

Yes, There are ways like Creating the Payment as Payment on Account or Parked Payment and later connect to the invoice. 

Best Regards,

I mean automatically without interference from our side. 

Also, I have not understood how to create Payment on Account or Parked payment and for what purpose?  

Hi,

Yes. You can take the Bank statement, upload the statement into IFS and match with the invoices. So the bank payments are reconciled with invoices in the system.

I can’t imagine how you do this manually. There are seeral ways to match the invoices with your payments.

Best Regards,
Chirantha.

Hi,

Yes it is possible to have Customer payment files imported directly into the system. Ext CustPayment files.

But unless any file you get from the Bank identifies what invoices are being paid then this will not help with the allocation of these monies against the outstanding invoices.

If you received payment files from the Customer, then these could be processed, and in that case they should be processed not to the bank account, but to a payments in transit account or similar that is then offset when the payment is actually reported by the bank.

If you were to use third party software, that had access to both the bank files and the customer payment files so that they did the reconciling, and provided a simple update into your IFS system, then that would work.

A Customer parked payment is a payment where you have been unable to identify the Customer who made the payment, but still need to record it into the system. The Cr entry would normally sit in a holding account. 

Payment on Account is where you know who the Customer is but do not know what invoices are being paid, and therefore unable to allocate the monies to the correct documents at the time of processing the payment.

Thanks to all for your updates.