How to Create Payment Document ?
Create a Payment Document.
Step 1: Initiating the Payment Document.
Navigation Path:
Financials >> Payments >> Payments
Step 2: Click on “New” to Create a Payment Document Document.
New Cash Payment: New Cash Payment generally means a payment made in cash (or cash-equivalent) that is newly issued or newly disbursed, rather than a continuation, adjustment, or settlement of a previous payment.
New Bank Payment: New Bank Payment typically means a newly initiated payment made through a bank, rather than a continuation, reversal, or adjustment of an earlier transaction.
Select the relevant option (e.g., 'New Cash Payment, New Bank Payment') from the dropdown menu to proceed.
Account: This refers to the account associated with the payment. It could be the customer’s account or a specific ledger account where the funds are recorded.
Step 3: Enter Document Details & Save the Document.
Payment :
Business Unit: This identifies the business unit or department responsible for the transaction. This is helpful for reporting and internal management of financial transactions.
Payment Details:
Contact: This refers to the contact information associated with the transaction (e.g., the customer or vendor involved).
Amount: The total amount received in the transaction. This is the monetary value that is being documented in the receipt.
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