The clearing process prioritizes debtor transactions based on priority for customers. If you select a single customer website, the priority does not apply. However, in the case of more complex relationships, you need to prioritize debtor and debit sites to ensure that you first make transactions from certain customer presentations. Our main competitor wonders what this section is all about, because the billing network is a de facto operational process to meet existing legal obligations and not any change in the rights and obligations of the parties. If you owe me 10 pounds and I owe you 10 pounds and we agree to keep our Tenners, what`s the reason to act? What`s the loss? We have settled our obligations in different ways. Run the report for compensation for your legal entity. The report can be sent automatically by email to your business partner. If the Send Letters by Email option is selected in the agreement, an email from the billing letter is sent to the third party. The payment system and closing compensation are methods of settlement (the conclusion or conclusion of agreements or payments) between two or more parties that are used to reduce exposure to risk. They are distinguished primarily by the fact that the payment system is considered a reduction in the risk of settlement, while the clearing of close-out reduces the risk before settlement. Amount unpaid after compensation: Shows the final amount of the outstanding invoice after compensation.
Rank: Shows the order in which the final compensation process completes the invoices. You can change the priority order if you want to include or exclude other debts in the clearing. Number of different currencies in compensation: Compensation is established for each currency of the reservations. Enter the booking due date. All bookings are selected in the clearing process if their due dates are before or equal to the due date of the booking. Entering the booking due date helps you avoid late payments and better plan your compensation. Compensation means that the value of several positions or payments to be exchanged between two or more parties is compensated. It can be used to determine which party owes compensation in a multi-party contract. Compensation is a general concept that has a number of more specific applications, including in financial markets.
Look on the clearing page to manage invoices after billing. The figure below shows a list of compensation settlements for example for commitments: Use the automatic change process to identify denied compensations in a compensation package and reverse the corresponding entries. The process simply reverses automatic entries, not manual access. Billing is also called payment nting. In the settlement stirrup, the party concerned downholds and charges all the amounts it owes/receives and the difference – or net amount – is paid to the party with the larger exposure or commitment. The status of compensation varies from balance to reverse. This change in status indicates that payments are cancelled and entries are now cancelled. A reverse compensation letter is then automatically created. You can send this letter by email or send it to the third party, stating that payments and access will be cancelled. Currency clearing allows companies or banks to enter the number of foreign exchange and foreign exchange transactions into large transactions and enjoy the benefits of better pricing. If companies have more time and predictability organized in the accounts, they can more accurately predict their cash flow. You can cancel compensation that you created by mistake and that is in the “Billing” status.