#707 Payment Selection account per BP?

[ADAXA]

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How can I address the following problem?

Trade Creditors have a Vendor Liability Account of (say) 21000
Related Company Creditors have a Vendor Liability Account of (say) 25000.

In the balance sheet 25000 (and 21000) can be displayed in the appropriate location and will show the correct values provided there are no unallocated payment amounts.

However, if a payment has been made (say just a cash transfer in anticipation of a subsequent invoice) then this payment will be sitting in the single "Payment Selection" account which is probably grouped with Trade Creditors in the balance sheet. This results in the balances in the balance sheet being incorrect for both trade creditors and related company creditors.

In BP>Vendor>Accounting there are three account codes stored,
..Vendor Liability
..Vendor Service Liability
..Vendor Prepayment

A solution would be to also set the "Payment Selection" account (and its AR equivalent) on a per BP basis so that any value in the Payment Selection for related companies could be displayed in the correct section of the balance sheet.

Is there any other solution that you can suggest other than monthly journals?

thanks.

[sboda]

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[sboda]

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Hi,

In Accounting Dimention window, select Business Dimention Tab.
Then, select the related Business Partner, and move it under Primary Business Partner.

Open Financial report window. Enter a value for Name, and select appropriate values for Report Column Set,Calender and Save it. Set the "Report line set" value as Balance sheet.
Click on Create Report, select the primary Business Partner, and click on OK to run the report.

You will see the details for the related Business Partners in the report along with the Primary Business Partner.

[sboda]

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[ADAXA]

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Thanks for the suggestion. I will try, however I think the problem is that the Payment Selection Account default values are linked to the concept of Bank when they should be linked to the concept of business partner. So, in the same way that you select a vendor liability account for a particular BP or BP Group you should also be able to select the Payment Selection account. I think it is a design inconsistency. The same comment probably applies to the Unallocated Receipts account in AR.

regards.

[sboda]

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Did you try the suggested scenario?

Thanks.

[ADAXA]

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I do not see how the suggestion will solve the problem I outlined. If you think it does then please provide some more guidance.

Assume I wish to produce a balance sheet and that our corporate policy is to show all intercompany transactions in non-current and segregated from trade account payables. We will need to produce something that looks like the following (note the values are shown as debit/credit):

BALANCE SHEET
ASSETS
Current Assets:
<snip>
Non-Current Assets:
<snip>
TOTAL ASSETS nnnn

LIABILITIES
Current Liabities
Accounts Payable Trade -300
Payment Selection 100
<snip>]

Non Current Liabilities
Accounts Payable Parent Co 0
Payment Selection Parent Co 200

This situation would exist if:
(a) in Trade Creditors, $300 of trade creditor invoices were open and $100 of payments had not been allocated to those invoices, and
(b) a $200 payment had been made to the parent company assume as a payment in anticipation of receiving an invoice but could also be as a loan.

The problem is that there is only one payment selection GL account and I do not understand how your proposal causes that value to be split in to two values on the balance sheet. I suspect that you may be suggesting that even though I have selected the accounting I require for each vendor directly (or by inheritance from the BP Group), I would also need to separately maintain a tree of business partners as well? I still do not understand how that lets me produce the balance sheet format I need.

I look forward to your advice.

[sboda]

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