Purchases - Cash Matching

INTRODUCTION

Cash Matching is the allocation of payments you make to suppliers to invoices from suppliers. If you make payments through the ‘Pay To Suppliers’ screen the payment is automatically matched. However, it is possible to make a payment to a supplier through the Nominal Ledger Cash Book. In this case the payment must be matched manually

Cash Matching

Go to Purchases\Ledger Maintenance\Cash Matching

The cash matching screen displays all unmatched transactions for a supplier and allows you to match them. We will be using the example screen below to describe this functionality:

 

To display the unmatched transactions for a supplier, enter the supplier account code in the Account field and Tab out of the field. All unmatched transactions are displayed in the grid with totals at the bottom of the screen.

The columns in the grid are:

Type: This is the transaction type for the transaction. For supplier cash matching these will usually be INP (Invoice for purchased order), IND (Invoice Direct), CNP (Credit Note for Purchase Return), CND(Credit Note Direct) and CPP(Cash Payment). The second line in our example has a transaction type of ISP – this indicates an invoice that has been partly paid.

Date: The date the transaction was posted to the supplier account

Their: The invoice/credit note number entered from the supplier’s document

Our: The transaction Reference number allocated by Agility Professional

Orig: The original value of the transaction. Line 2 of our example has this column set to €3160.12 indicating that the value of invoice

Debit: All payments or credit notes. Note that it is possible to post a negative payment to reverse a payment made in error. In this case the payment would appear in the Credit column

Credit: All invoices

Selected: Initially this column will be empty. To select a transaction to be matched click in this column and it will automatically copy the total from the debit/credit column. Click again to undo this.

 Disc: This column shows any settlement discount that you may be taking.

By default, this grid is displayed in date order. If you wish to change the order, select another option from the Sort By list and the transactions will immediately be re-displayed in the order you have requested.

BUTTONS

The following buttons are also visible on this screen and perform the following functionality

Details:

Click this button to see information about the suppliers account

From this screen there are further drill downs to

Details: A list of all open or matched transactions

Activity: A graph showing activity over the last 12 months

Info: Contact information for the supplier

Orders: A list of open Purchase Orders

Show Inv:

If you have EiTrax Document Management software installed this button will display a scanned copy of the original invoice or credit note and any associated delivery notes. For more information on this software please call Agility Software

Sett Disc:

A supplier may have settlement discount terms already set up. If this is the case the system will calculate the discount according to those terms and populate the grid accordingly. In the example below invoice 5653 and 2058 have been selected. The system has automatically applied the settlement discount as per the terms set up when the supplier account was created.

If you wish to apply a settlement discount manually click in the selected field for the invoice, then click again to make it blank and key in exactly the value of the invoice that will be paid less any discount. Then click the Sett Disc button and the software will populate the Disc column with the discount to be taken

The settlement discount facility also allows you to select the full value of the line as a settlement discount (click on the line to select the transaction remove the value from selected and then click on settlement discount). You will be prompted to confirm that you are selecting the full amount. This acts exactly as the original write off feature did:

Auto Match:

Prior to selecting this option you must first select all payments that are to be auto matched. The system will then in date order pick everything invoice/credit until the payments selected have been matched to zero. This will often result in a split invoice or credit.

MATCH:

As above its good practice to select the payment(s) and then the transactions.

Unless using Auto Match you will click this button when you have selected all transactions to be matched.

The matched total must equal zero.

Once the system has confirmed that the matched total equals zero you will be prompted to confirm the match,

After matching the screen is re-displayed with all remaining unmatched transactions.

MULTI-CURRENCY

If the supplier invoices you in another currency to yours the transactions will all be displayed in the currency of the supplier. When you match the transactions, it is possible that the currency exchange rate has changed between the date the original invoice was posted to Agility Professional and the date of the payment. Therefore, although the invoice and payment may match exactly in the accounts there may be a difference.

These are posted automatically by Agility to the pre-defined exchange differences account – usually P81000.

Exchange Rates can be maintained by going to Nominal\Ledger Maintenance\Countries and Currencies\

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