4.1.2 AR Clearing

Step: After retrieving Bank Statement on daily basis

1. Check corresponding AR in RCS by entering transaction FBL5N to display customer open items

2. Use transaction F-28 to clear related open items

Fill in all the details requird

3. Click "Process Open items" after filling in all the details.

4. Select invoices that match with incoming payment by double clicking on the amount.

5. If transaction contains bank charge or withholding tax, "Not assigned" box will show remaining amount.

6. To process "Bank charge" or "Withholding Tax", Click  button. Go to PstKY, then Enter G/L account.

** Bank Charge – GL 98300702   

Please specify cost center to bank charge  GL by cost center should belong to GBU’s invoice.

Checking GBU's cost center , go to original document of invoice >look at Sales Organization and Division then check cost center against GBU as table below.
Appedix : File cost center Korea Bank Charge

7. Click  "Save" for verifying and posting [Get the document number]

Step:

After receiving Advance payment amount notification from related person, or statement.

1. Enter transaction F-29 to post incoming advance payment

Fill in all the details requird

• Document date – Payment Receiving Date
• Type – DZ
• Fill in Company code, Period, Currency/Rate, Reference, Doc. Header text, Clearing text
• Customer
  • Account – customer code
  • Special G/L Ind – Put "A (Down payment)"
• Bank Data
  • Account -G/L account of incoming bank
  • Amount- payment amount in Local/foreign currency
  • Amount in L/C – payment amount in local currency (If any)
  • Bank Charge – amount charged (if any)
  • Value Date – similar as posting date and document date
  • Text- similar to clearing text

2. Click "New Item" 

Fill in all the details requird

• Amount – Payment Receiving Amount
• Text - similar to clearing text

3. Click Document Simulate

4. Click  "Save" for post [Get the document number]

5. Advise CSR about advance payment received to create Sales Order and give feedback to AR on S/O details. (advise CSR depend on customer name)

e.g. JMD CHEMICALS (2023057) mail to ji-sun.kim@solvay.com
KIIC (2019591) mail to ji-eun.jung@solvay.com 

Step: After Billing has been issued for advance incoming payment

1. Use transaction F-32 to clear advance payment received posting with related AR open item.

Fill in all the details requird

• Account – Customer code
• Clearing date – Payment Receiving Date
• Fill in Company code, Period, Currency/Rate,
• Open item Selection
  • Special G/L Ind – Put "A (Down payment)"

2. Click "Process open item" 

3. Select invoices that match with advance incoming payment by double clicking on the amount.

4. Click Document Simulate

5. Click  "Save" for post [Get the document number]

Step: After receiving P-Loan Bank Slip (Electronic copy) from Treasury 

P-Loan details as Sample below.

1. Use transaction F-28 to post P-Loan payment received with related AR open item

• Reference is P (P-Loan)

2. Click "Process Open items" after filling in all the details.

3. Select invoices that match with incoming payment by double clicking on the amount.

4. If they show remaining amount. (check with bank slip for other financial amount)

** GL Interest or Discount, To process with GL "OTH FI CHARGE" 98546200.
Fill PstKY 40 Debit , then Enter G/L account 98546200. 

Text: Put calculation method/ Customer Name / Bank Charges Amount
(Original amount * interest rate * Number of Day Discount before net due Date/365)

5. To process Bank Charge

6. Click Simulate

7. Click "Save" will get document number.

4.2.1 AR - Clearing (Overseas)

Step:
After receiving Bank advice from Treasury and check against statement on daily basis

Check corresponding AR in RCS by entering transaction FBL5N

8. Use transaction F-28 to clear related AR open items.

Fill in all the details requird

• Document date – Payment Receiving Date
• Type – DZ
• Fill in Company code, Period, Currency/Rate, Reference, Doc. Header text, Clearing text
• Bank Data
  • Account -G/L account No. of incoming bank
  • Amount- payment amount in Local / foreign currency
  • Amount in L/C – payment amount in local currency (if any)
  • Bank Charge – amount charged (if any)
  • Value Date – similar as posting date and document date
  • Text- similar to clearing text
• Open Item selection
  • Account – customer code
  • Account Type – D (for incoming transaction)

9. Click "Process Open items" after filling in all the details.

10. Select invoices that match with incoming payment by double clicking on the amount.

11. If transaction contains bank charge or withholding tax, "Not assigned" box will show remaining amount.

12. To process "Bank charge" or "Withholding Tax", Click  button. Go to PstKY, then Enter G/L account. Then, press "Enter"

** Bank Charge – GL 98300702 ,Cost center need to check GBU of invoice

13. Fill in "cost center" number and "Text"

14. Click "Document Simulate".

15. Click  "Save" for post [Get the document number]

Step:
After receiving Bank advice from Treasury and check against statement on daily basis

1. Check corresponding AR in RCS by entering transaction FBL5N (No open item)

Advise CSR about advance payment received to create Sales Order and give feedback to AR on S/O details

2. Use transaction F-29 to post advance payment

Fill in all the details requird

• Document date – Payment Receiving Date
• Type – DZ
• Fill in Company code, Period, Currency/Rate, Reference, Doc. Header text, Clearing text
• Customer
  • Account – customer code
  • Special G/L Indicator – Put "A (Down payment)"
• Bank Data
  • Account -G/L account of incoming bank
  • Amount- payment amount in Local/foreign currency
  • Amount in L/C – payment amount in local currency (If any)
  • Bank Charge – amount charged (if any)
  • Value Date – similar as posting date and document date
  • Text- similar to clearing text

3. Click "New Item" 

Fill in all the details requird

• Amount – Payment Receiving Amount
• Text - similar to clearing text

4. Click Document Simulate

5. Click  "Save" for post [Get the document number]

Step:
After Billing has been issued for advance incoming payment

1. Use transaction F-32 to clear advance payment received posting with related AR open item.

Fill in all the details requird

• Account – Customer code
• Clearing date – Payment Receiving Date
• Fill in Company code, Period, Currency/Rate,
• Open item Selection
  • Special G/L Ind – Put "A (Down payment)"

2. Click "Process open item" 

3. Select invoices that match with advance incoming payment by double clicking on the amount.

4. Click Document Simulate

5. Click  "Save" for post [Get the document number

Step
After receiving information from Treasury

• Use transaction F-28 to clear open items

Fill in all the details requird

• Document date – Payment Receiving Date
• Type – DZ
• Doc. Header Type – Depend on GBU.
• Bank Data
  • Account -G/L account No. of incoming bank
  • Amount- payment amount in foreign currency
  • Amount in L/C – payment amount in foreign currency
  • Bank Charge – amount charged (if any)
  • Value Date – similar as posting date and document date
  • Text- LC NEGO – Ref No.

• Open Item selection
  • Account – customer code
  • Account Type – D (for incoming transaction)

• Click “Process Open items” after filling in all the details.

Select invoices that match with incoming payment by double clicking on the amount.

Fill in the details required

• Company Code
• Account Type
• Invoice number

Press "Enter" 

For "Not assigned" amount, process as following steps

Fill in below required boxes

• Posting Key 40
• G/L Bank Account
• Press "Enter"

Fill in all the details requird

• Amount – Not assigned amount
• Amount in LC- amount to be provided on each receipt [in case Incoming foreign currency convert to KRW account]
• Text – LC NEGO – Ref No.
• Press "Enter"

To process OTH FI CHARGE

Fill in all the details requird

• Posting Key- 40
• Account -98546200 (*use only this GL for LC’ bank charge) 
• Press “Enter”

Fill in all the details requird

• Amount in LC – provide in receipt
• Cost Center – 7525-9411
• Text : LC - Less Charge
• Press "Enter"

To Process Bank Charge 

Fill in all the details requird

• Posting Key -40
• Bank Charge G/L Account – 98300702
• Press "Enter"

Fill in all the required details

• Amount : Bank Charge amount (KRW), to be provided in receipt
• Cost Center: Depends on GBU and Sales incharge to invoice.
• Text – LC Nego Charge
• Click "Document" " Simulate"