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Hi Sophie
Your guess is right. F110 can be used for paying vendors as well as for
accounting receipts from customers. However, in reality we use it for paying
vendors only since what we are going to pay is certain at our end. However,
what we are likely to collect rests largely with the prompt paying attitude
of our customers ( of course with an element of uncertainty attached ).
Therefore, we do not use F110 for collection purposes since your customers
may not pay on dot as scheduled.
May be it is possible when your customers are most reliable with regard to
payments ( ever heard of Kanban , JIT etc ?!). Still it is not advisable to
use F110 as a collection program.
Incoming payment methods are predominantly used in F110 for handling debit
items in vendor accounts so that you make prompt adjustments of receivable
items in vendor accounts before paying them ( the net balance owed to them).
Regards
VidhyaDhar
On Fri, May 28, 2010 at 11:31 AM, Sophie via sap-acct <
sap-acct@groups.ittoolbox.com> wrote:
> Posted by Sophie(Senior Accountant)
> on May 28 at 2:00 AM hi experts,
>
> F110 can process both outgoing payment and incoming payment, does this
> function maks sense for incoming payment? I don't really understand.
> I mean, if we don't use F110, normally we will clear the AR when we got the
> confirmation from the the bank, that means when we actually received the
> money then we clear the AR.
> But if use F110 to process incoming payement, the system will clear the AR
> based on the due date, if the due date is reached, the system will clear the
> AR in spite of if the money actually receiver or not?
> I'm not sure if I'm right or not, pls. feel free to correct me.
>
> many thanks!
> best regards
> Sophie
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