Work Practice ALL

General Work PracticeIFS
FINANCE
Table of Content:
WORK PROCESS TO FOLLOW:----------------------------------------------------------------2
1. LC CREATION:-----------------------------------------------------------------------------------------2
2. SIGHT DRAFT CREATION:--------------------------------------------------------------------------4
3. SUPPLIER PAYMENT SCHEDULE:----------------------------------------------------------------5
4. PAYMENT FOR LC CHARGES/SD CHARGES:--------------------------------------------------8
5. BANK GUARANTEE CREATION:------------------------------------------------------------------9
6. CREATION OF LIABILITY ON RECEIPT OF GOODS:---------------------------------------10
7. PAYMENT AGAINST THE EXISTING LIABILITY:-------------------------------------------11
8. CREATION OF DEBIT INVOICE (LD):-----------------------------------------------------------12
9. KNOCKING OF ADVANCE/LC/SD PAYMENTS WITH THE LIABILITIES:-------------14
10.
CREATION OF LIABILITY WITH DEDUCTION APPLICABLE:------------------------15
11.
TDS IN CASE OF ADVANCE PAYMENTS:--------------------------------------------------17
12.
EMPLOYEES ADVANCE PAYMENTS:-------------------------------------------------------19
13.
ADJUSTMENT OF THE EMPLOYEE ADVANCE PAYMENTS:--------------------------20
14.
PERIODIC JOURNAL VOUCHERS:-----------------------------------------------------------21
CHECK LIST TO FOLLOW:---------------------------------------------------------------------22
1. LC CREATION:----------------------------------------------------------------------------------------22
2. SIGHT DRAFT CREATION:------------------------------------------------------------------------22
3. SUPPLIER PAYMENT SCHEDULE:--------------------------------------------------------------23
4. PAYMENT FOR LC CHARGES/SD CHARGES:------------------------------------------------23
5. BANK GUARANTEE CREATION:----------------------------------------------------------------24
6. CREATION OF LIABILITY ON RECEIPT OF GOODS:---------------------------------------24
7. PAYMENT AGAINST THE EXISTING LIABILITY:-------------------------------------------25
8. KNOCKING OF ADVANCE/LC/SD PAYMENTS WITH THE LIABILITIES:-------------25
9. CREATION OF LIABILITY WITH TDS APPLICABLE:---------------------------------------26
10.
CREATION OF DEBIT INVOICE (LD):--------------------------------------------------------26
11.
EMPLOYEES ADVANCE PAYMENTS/ADJUSTMENTS:---------------------------------27
15.
TDS IN CASE OF ADVANCE PAYMENTS:--------------------------------------------------27
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WORK PROCESS TO FOLLOW:

1. LC CREATION:
Check List:
LC Number
PO number with Payment Term as LC.
LC Value not exceeding PO Value.
Usance Period.
Supplier Bank name and address.
Negotiated Exchange Rate.
Pre Requisites for the Creation of Letter of Credit:
The Purchase Order is required to be in the State Released in the PO Screen.

Payment Term LC to be attached for the respective Purchase Orders in the PO Screen.
PATH: Payment/Bank Reporting Data/LC Entry Screen.
The Fields marked as XXXXX are mandatory to enter.
Order No refers to the Purchase Orders having the Payment Term as LC.
Opening Bank refers to the User Bank providing the facility for the opening of the Letter of
Credit.
Steps:
1.
2.
3.
4.
5.
6.
Click F5 or New to enter the required fields.

Enter the LC number and select the Purchase Order Number through F8 or LOV.
Opening Date by default will be the System Date. It can be User Defined.
Select the Opening Bank through F8 or LOV.
Enter the Supplier Bank Manually.
Enter the Amount field to the extent of the LC value. LC value cannot exceed the value of
the Purchase Order.
7. Usance Period and the negotiated Exchange rate are to be entered. By Default it will be the
Exchange Rate as Defined in the Currency Master.
8. Save or click F12.
9. All the line items related to the Purchase Order will appear in the Screen.
10. The State of the Letter of Credit will be New.
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11. Changes in respect of the Period, LC Value, Currency Rate, Supplier Bank, Supplier
Address and PO Number can be made before the RMB for Intimation Send is initiated.
12. RMB and click on Intimation Send.
13. New Status will be Intimation-Sent and the closing date of the LC will also appear.
14. The Letter of Credit with the Status Intimation-Sent is ready for the release of the
payment.
REPORTS:
LC Detail Report can be used for all LC Status.
LC OS Detail Report can be used for OS Status of LC.
LC Opening Application Report.
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2. SIGHT DRAFT CREATION:
Check List:
Issue Date
PO number with Payment Term as SD.
Due Date not less than system date.
Release amount exceeding PO amount.
Release date not less than due date.
Pre Requisites for the Creation of Sight Draft:

Payment Term SD to be attached for the respective Purchase Orders in the PO Screen.
PATH: Payment/Bank Reporting Data/Sight Draft Entry Screen.
Order No refers to the Purchase Orders having the Payment Term asSD.
Steps:
2.
3.
4.
5.
6.
7.
Click F5 or New to enter the required fields.

Enter the Bank Advice Number and select the Purchase Number through F8 or LOV.
Enter the required Issue Date and the Release Date.
Due date cannot be less than the system date.
Enter the Required Rate as Applicable.
Save or F12.
REPORTS:
Sight Draft Issue Report can be used for issuing the Sight Drafts.
Sight Draft Report can be used for Sight Drafts Status.
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3. SUPPLIER PAYMENT SCHEDULE:
Check List:
Actual release amount not less than plan release amount.

PO number with Payment Term as applicable.
Payment Proposal Advice in state Approved.
Mode of payment.
Negotiated/Applicable Exchange Rate.
Correct voucher Date.
Required Narration filled.
Payment Bank Selected.
Pre-Posting entered as required.
Pre Requisites for release of payment through the supplier payment schedule:

Payment Tab in the PO Screen should be filled with the required information.
PATH: Payment/ Payment Schedule/ Supplier Schedule/Supplier Payment Schedule
Screen.
Steps:
1.
2.
3.
4.
5.
6.
Click F3 or Query in the Supplier ID Field for the required Vendor.

Select the line which appears in the state Created.
Verify the Payment Term as appearing the Supplier Payment Schedule.
RMB for Proposal Payment Advice.
A new Proposal Payment Advice Screen will appear.
Header will provide the information regarding the value to be released through the
proposal.
7. Create a new line and enter the P.A Prefix through the LOV.
8. Select the required Mode of Payment.
When the Mode Payments are:
Cash/Cheque/Demand Draft
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9. The above can be used for the disbursement of the Advances against Purchase Orders.
10. The Bank Guarantee can be entered using the LOV if required before the release of
Advance Payment.
11. Save the line after selection for the Bank Guarantee related to the PO has been made.
12. Bank Guarantee selected is required to be in the State Open before any payment
for the same can be released.
13. Save the Line.
14. The State will be created.
15. Select the Line and RMB for Approve.
16. Close the Screen.
Letter of Credit
17. The Letter of Credit for the respective Purchase Order is required to be selected using
the LOV from the LC No. column.
18. Save the line after selection for the Letter of Credit related to the PO has been made.
19. Letter of Credit selected is required to be in the State Intimation-Sent before any
payment for the same can be released.
20. Save the Line.
Document Through Bank
24. The Document Through Bank, the Sight Draft for the respective Purchase Order is
required to be selected using the LOV from the Document Through Bank column.
25. Save the line after selection for the Sight Draft related to the PO has been made.
26. Sight Draft selected is required to be created before any payment for the same can be
released.
27. Save the Line.
30. Select the Line in the Supplier Payment Schedule Screen and RMB for Create Payment.
31. Create Supplier Payment Screen will appear.
32. Actual Pay Date is the Voucher Date for the Payment released.
NOTE: In case of Back Dated Voucher Dates, User is required to
ensure that the Currency Master is updated with the Rate as
applicable at the Time of Actual Payment.
33. Enter the Required Exchange Rate as Applicable as on the Voucher Date. Default
Exchange Rate will be as per the Currency Master.
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34. Use the List for selecting the Short Name which is the Payment Bank name.
35. Actual amount can be less than the Plan Amount.
36. When the Mode of Payment selected is Cheque, user is required to select the pre defined
cheque series through the List.
37. Manual Cheque Number can also be entered if required.
38. Narration can be used to enter any remarks related to the Payment voucher.
39. Click on the Pre-Posting and enter the Value in Classify (Vendor Code) and PO
Number.
40. Click OK.
41. Now click on Payment Button to create the Payment Voucher.
42. Message for the Creation of the Voucher will appear asSupplier Payment Created.
43. Click on OK.
44. The State of the PO will change to Released.
45. Select the Line and RMB for Voucher Report.
46. Rollback of the Payment made can be initiated through the RMB Function.
REPORTS:
Voucher Report.
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4. PAYMENT FOR LC CHARGES/SD CHARGES:
Check List:
Payment Bank.
Voucher Date.
Payment Date.
Text as required.
Value to be credited.
Account Code.
Code parts as required.
Pre Requisites for booking of charges against LC/SD through the Mixed Payment Screen:

PATH: Payment/ Cash Book/ Mixed Payment/ Mixed Payment
1.
2.
3.
4.
5.
6.
7.
In the General Tab, Click F5 or New and select the cash account using the LOV or F8.
Enter the required Payment Date.
Enter the required Voucher date.
Enter the required Voucher Text.
Go to Transaction Tab.
Click F5 or New in the Line level.
In the Mixed Payment transaction Type column use the drop down to select Direct Cash
Payment.
8. Enter the value to de credited to the bank in the Amount column with a (-) ive sign.
9. Select the line and RMB for Manual Posting.
10. A new screen will appear.
11. In the Account column enter or LOV for the required Account.
12. In the Classify column enter or LOV the required Vendor code.
13. In the PO column enter or LOV for the required PO number.
14. Ensure that the amount in the Balance field is ZERO.
15. Click OK.
16. Save or F12.
17. In the header, RMB and approve the record.
18. In the header RMB and print Voucher Report.
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5. BANK GUARANTEE CREATION:
Check List:
PO number.
Available BG
BG Value.
BG Expiry Date.
Pre Requisites for creation of BG through Bank Guarantee Screen:
PATH: Payment/Bank Reporting Data/Sight Draft Entry Screen.

1. Click F5 or New.
2. Select the required BG type through the Drop down.
3. Enter the required BG Number.
4. Select the PO number through the LOV.
5. Enter the Vendor code in the Classify field through the LOV.
6. Enter the Expiry Date.
7. Enter the Claim Period.
8. Enter the BG Amount.
9. Enter the Bank Name.
10. Enter the Bank Address.
11. Save or F12.
12. BG with the status New will get created.
13. In the Header RMB for Open.
14. The BG will be ready for release of Advance against the respective PO Number.
REPORTS:
BG Status Report.
BG Expiry Status Report.
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6. CREATION OF LIABILITY ON RECEIPT OF GOODS:
Check List:
PO number.
Voucher Date.
Payment Term.
Quantity accepted.
Applicable Charges (TDS).
Pre Posting.
Pre Requisites for creating the liability for the value of goods received through Supplier
Invoice Entry Screen:

Goods are accepted and moved to the Final location
PATH: Invoice/Supplier Invoice /Supplier Invoice Entry

15. Click F5 or New.
16. Select the required PO number through LOV.
17. In the Invoice Identity field LOV for the required Invoice number.
18. Default currency rate will be picked from the currency master.
19. Enter the required Authorizer.
20. Double click on the Pre-Posting and tick on the Affect Line posting Field.
22. Enter the PO Number in the PO field through the LOV.
23. Click OK.
24. In the Header RMB for Match Receipts Gate Entry.
25. A new Screen will open.
26. Enter the approved quantity in the required column.
27. Click OK.
28. The Debit line with the required accounts will come.
29. Enter the amount to be credited in the Gross Amount Field.
30. The Value in the Balance Field is required to be ZERO in order to match the
Accounting Transaction.
31. Save or F12.
32. The Invoice in the state Preliminary will be created.
33. In the Header RMB for Post Voucher.
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34. The Voucher Creation message and the Voucher Number will appear.
35. Click on OK.
36. In the Header RMB for Voucher Report.
7. PAYMENT AGAINST THE EXISTING LIABILITY:
Check List:
Creation of Liability.
Authorization for the Payment.
Plan pay date.
Payment Term.
Voucher Date.
Matching the Invoice.
Pre Requisites for making payments against the existing Liabilities through Supplier Manual
Payment Screen:

Goods are accepted and moved to the Final location.
Invoice is matched and created.
Invoice is authorized for payment.
PATH: Payment/Manual Payment/Supplier Payment /Supplier Payment Screen

1. In the General Tab, Click F5 or New.
2. Select the required Cash Account through LOV.
3. Select the required Payment Mode through the drop down.
4. Enter the required Cheque number/Advice number.
5. In the line level, click F5 or New.
6. Enter the amount to be paid in the Payment Amount column.
7. Enter the currency in the Payment Currency column.
8. In the Transaction Tab, RMB for Select Batch.
9. Query for the required Invoice to be paid.
10. Select the line and Click OK.
11. Ensure the Remaining Amount in Accounting Currency or Total Balance in
Accounting Currency is ZERO.
12. Enter the Voucher Text as required.
13. Save or F12.
15. Click on OK.
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8. CREATION OF DEBIT INVOICE (LD):
Check List:
PO number.
Invoice ID as LD.
Invoice/DC Number with prefix LD-
Payment Term.
Pre Posting.
Gross amount with a (-) ive sign.
Pre Requisites for creating Debit Note (LD) through Supplier Invoice Entry Screen:


1. Click F5 or New.
2. In the RMB, Copy Invoice can also be used for creating the Debit Note.
4. In the Invoice Identity field add the suffix LD- to the original Invoice number.
5. Change the Series ID to LD
11. Click OK.
12. Enter the amount to be Debited in the Gross Amount Field with a negative sign.
13. In the line level click F5 or New and select the Account to be credited through the LOV.
14. Enter the amount to be debited in the Debit Column.
15. The Value in the Balance Field is required to be ZERO in order to match the
Accounting Transaction.
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16. Save or F12.

18. In the Header, Change the Voucher type to LD before Post Invoice is initiated.
21. Click on OK.
9. KNOCKING OF ADVANCE/LC/SD PAYMENTS WITH THE LIABILITIES:
Check List:
Advance/LC/SD Payments made.

Matching the Advances against the Invoices.
Pre Requisites for knocking the Advances against the Liabilities through Supplier Offset
Screen:

PATH: Payment/Manual Payment/Supplier Payment /Supplier Offset Screen

1.
2.
3.
4.
5.
6.
7.
8.
9.
In the General Tab, Click F5 or New.

Select the required Payment Currency through LOV.
In the Transaction Tab, RMB for Select Batch.
Query for the required Invoice(s) and Advance(s) to be knocked.
Series ID for the Invoices are SI and Advances are SUPOA.
Select the line(s) and Click OK.
Ensure the Remaining Amount on Payment is ZERO.
The difference is to be adjusted through the Amount in Payment Currency column.
Ensure that the Payment Date in the Header belongs to the period in which the
adjustment is to be made.
10. Save or F12.
12. Click on OK.
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10. CREATION OF LIABILITY WITH DEDUCTION APPLICABLE:
Check List:
PO number.
Voucher Date.
Payment Term.
Quantity accepted.
Pre Posting.
State Preliminary.
Pre Requisites for creating the liability for the value of goods received with Deduction
applicable through Supplier Invoice Entry Screen:


23. Click F5 or New.
25. In the Invoice Identity field LOV for the required Invoice number.
31. Click OK.
32. Tick on the Deduction Applicable.
33. Enter the amount to be credited in the Gross Amount Field.
34. Save the Record.
35. The Invoice in the State Preliminary will get created.
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36. Select the line and RMB for Deductions to attach the TDS.
37. Click New or F5, taxable value by default will appear as the Invoice Value.
38. LOV for the TDS type as attached to the Vendor in the Vendor Master.
39. Save or F12 the record.
40. Close the window.
41. In the Header RMB for Match Receipts Gate Entry.
42. A new Screen will open.
43. Enter the approved quantity in the required column.
44. Click OK.
45. The Debit line with the required accounts will come.
46. Ensure the Value in the Balance Field is ZERO in order to match the Accounting
Transaction.
47. Save or F12.
51. Click on OK.
53. System will create the voucher for the application of TDS where the Invoice number will
have the prefix TDS.
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11. TDS IN CASE OF ADVANCE PAYMENTS:
Check List:
PO number.
Voucher Date.
Payment Term.
Quantity accepted.
Pre Posting.
Pre Requisites for creating the Advance Payments with Deduction applicable through Supplier
Payment Schedule Screen:

Payment Tab in the PO Screen is to be filled.
PATH: Payment/ Payment Schedule/ Supplier Schedule/Supplier Payment Schedule

Screen.
Steps:
1.
2.
3.
4.
5.
6.
Click F3 or Query in the Supplier ID Field for the required Vendor.

Select the line which appears in the state Created.
Verify the Payment Term as appearing the Supplier Payment Schedule.
RMB for Proposal Payment Advice.
A new Proposal Payment Advice Screen will appear.
Header will provide the information regarding the value to be released through the
proposal.
7. Create a new line and enter the P.A Prefix through the LOV.
8. Select the required Mode of Payment.
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9. TDS will be applicable on the amount treated as Advances.

Mode Payments is:
Cash/Cheque/Demand Draft
10. The above can be used for the disbursement of the Advances against Purchase Orders.
11. The Bank Guarantee can be entered using the LOV if required before the release of
Advance Payment.
12. Save the line after selection for the Bank Guarantee related to the PO has been made.
13. Bank Guarantee selected is required to be in the State Open before any payment
for the same can be released.
14. Save the Line.
18. Select the Line in the Supplier Payment Schedule Screen and RMB for Deduction
Applicable.
19. Enter the taxable amount in the Plan Amount Field in the Header.
20. In the line level, F5 for New and LOV for the Applicable TDS Type.
21. Change the Voucher Date if Required.
22. Save or F12.
23. Select the Line in the Supplier Payment Schedule Screen and RMB for Create Payment.
24. Create Supplier Payment Screen will appear.
25. Actual Pay Date is the Voucher Date for the Payment released.
NOTE: In case of Back Dated Voucher Dates, User is required to
ensure that the Currency Master is updated with the Rate as
applicable at the Time of Actual Payment.
26. Enter the Required Exchange Rate as Applicable as on the Voucher Date. Default
Exchange Rate will be as per the Currency Master.
27. Use the List for selecting the Short Name which is the Payment Bank name.
28. Actual amount can be less than the Plan Amount.
29. When the Mode of Payment selected is Cheque, user is required to select the pre defined
cheque series through the List.
30. Manual Cheque Number can also be entered if required.
31. Narration can be used to enter any remarks related to the Payment voucher.
32. Click on the Pre-Posting and enter the Value in Classify (Vendor Code) and PO
Number.
33. Click OK.
34. Now click on Payment Button to create the Payment Voucher.
35. Message for the Creation of the Voucher will appear asSupplier Payment Created.
36. Click on OK.
37. The State of the PO will change to Released.
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38. Select the Line and RMB for Voucher Report.

39. Rollback of the Payment made can be initiated through the RMB Function.
12. EMPLOYEES ADVANCE PAYMENTS:
Check List:
Payment Bank.
Voucher Date.
Payment Date.
Text as required.
Account Code.
PATH: Payment/ Cash Book/ Mixed Payment/ Mixed Payment

1.
2.
3.
4.
5.
6.
7.
In the General Tab, Click F5 or New and select the cash account using the LOV or F8.
Enter the required Payment Date.
Enter the required Voucher date.
Go to Transaction Tab.
Click F5 or New in the Line level.
In the Mixed Payment transaction Type column use the drop down to select Direct
Cash Payment.
8. Enter the value to be credited to the bank in the Amount column with a (-) ive sign or in
the Credit Column.
9. Select the line and RMB for Manual Posting.
10. A new screen will appear.
11. In the Account column enter or LOV for the required Account to be debited.
12. In the Employee column enter or LOV the required Employee code.
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14. Click OK.
15. Save or F12.
16. In the header, RMB and approve the record.
13. ADJUSTMENT OF THE EMPLOYEE ADVANCE PAYMENTS:
Check List:
Voucher Date
Text as required.
Account/Value to be debited.
Account/Value to be credited.
Account Code.
PATH: Accounting Rules/Voucher/Voucher Entry

1.
2.
3.
4.
5.
In the Header, F5 or New.

Click F5 or new in the Line level.
In the Account column enter or LOV for the required Account to be debited.
In the Employee column enter or LOV the required Employee code for whom the
adjustment is made.
6. Enter the value in the amount column to be Debited.
7. Click New to enter a new account or LOV for the required Account to be credited.
8. In the Employee column enter or LOV the required Employee code for whom the
adjustment is made.
9. Enter the value in the amount column to be Credited.
11. Save or F12.
12. In the header, the status will be approve.
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14. PERIODIC JOURNAL VOUCHERS:
Check List:
Voucher Date
Text as required.
Account/Value to be debited.
Account/Value to be credited.
Account Code.
PATH: Accounting Rules/Voucher/Voucher Entry

14. In the Header, F5 or New.
15. Enter the required Voucher Text.
16. Click F5 or new in the Line level.
17. In the Account column enter and LOV for the required Account to be debited.
18. Enter the value in the amount column to be Debited.
19. Click New to enter a new account and LOV for the required Account to be credited.
20. Enter the value in the amount column to be Credited.
22. Save or F12.
23. In the header, the status will be Approve.
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CHECK LIST TO FOLLOW:
1. LC CREATION:
Check List:
LC Number
PO number with Payment Term as LC.
LC Value not exceeding PO Value.
Usance Period.
Supplier Bank name and address.
2. SIGHT DRAFT CREATION:

Check List:
Issue Date
PO number with Payment Term as SD.
Due Date not less than system date.
Release amount exceeding PO amount.
Release date not less than due date.
Pre Requisites for the Creation of Sight Draft:

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Payment Term SD to be attached for the respective Purchase Orders in the PO Screen.
3. SUPPLIER PAYMENT SCHEDULE:

Check List:
Actual release amount not less than plan release amount.

PO number with Payment Term as applicable.
Payment Proposal Advice in state Approved.
Mode of payment.
Negotiated/Applicable Exchange Rate.
Correct voucher Date.
Required Narration filled.
Payment Bank Selected.
Pre-Posting entered as required.
Pre Requisites for release of payment through the supplier payment schedule:

4. PAYMENT FOR LC CHARGES/SD CHARGES:

Check List:
Payment Bank.
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Voucher Date.
Payment Date.
Text as required.
Account Code.
Pre Requisites for booking of charges against LC/SD through the Mixed Payment Screen:

5. BANK GUARANTEE CREATION:
Check List:
PO number.
Available BG
BG Value.
BG Expiry Date.
Pre Requisites for creation of BG through Bank Guarantee Screen:
6. CREATION OF LIABILITY ON RECEIPT OF GOODS:

Check List:
PO number.
Invoice/DC Number.
Payment Term.
Quantity accepted.
Pre Posting.
State Preliminary.
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7. PAYMENT AGAINST THE EXISTING LIABILITY:

Check List:
Existing Liability.
Invoice Authorize for the Payment.
Plan pay date.
Payment Term.
Voucher Date.
Knocking of Debit Invoices (LD).
Matching the Invoice.
Narration.
Pre Requisites for making payments against the existing Liabilities through Supplier Manual
Payment Screen:

8. KNOCKING OF ADVANCE/LC/SD PAYMENTS WITH THE LIABILITIES:

Check List:
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Advance/LC/SD Payments made.

Matching the Advances against the Invoices.
Pre Requisites for knocking the Advances against the Liabilities through Supplier Offset
Screen:

9. CREATION OF LIABILITY WITH TDS APPLICABLE:

Check List:
PO number.
Invoice/DC Number.
Payment Term.
Quantity accepted.
Applicable Charges (TDS)
State Preliminary.
Deduction Flag on.
Pre Posting.

10.
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CREATION OF DEBIT INVOICE (LD):
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Check List:
PO number.
Invoice ID as LD.
Invoice/DC Number with prefix LD-
Payment Term.
Pre Posting.
Gross amount with a (-) ive sign.
Pre Requisites for creating Debit Note (LD) through Supplier Invoice Entry Screen:

11.EMPLOYEES ADVANCE PAYMENTS/ADJUSTMENTS:

Check List:
Payment Value.
Voucher Date.
Employee Code.
Account Codes.
15. TDS IN CASE OF ADVANCE PAYMENTS:
Check List:
Payment Amount
Taxable Amount.
TDS Type
Voucher Date.
Pre-Posting.
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General Work PracticeIFS

General Work PracticeIFS

WORK PROCESS TO FOLLOW:

Pre Requisites for the Creation of Letter of Credit:

The Purchase Order is required to be in the State Released in the PO Screen.

Click F5 or New to enter the required fields.

General Work PracticeIFS

General Work PracticeIFS

2. SIGHT DRAFT CREATION:

Pre Requisites for the Creation of Sight Draft:

The Purchase Order is required to be in the State Released in the PO Screen.

Click F5 or New to enter the required fields.

General Work PracticeIFS

3. SUPPLIER PAYMENT SCHEDULE:

Actual release amount not less than plan release amount.

The Purchase Order is required to be in the State Released in the PO Screen.

Click F3 or Query in the Supplier ID Field for the required Vendor.

General Work PracticeIFS

Document Through Bank

General Work PracticeIFS

General Work PracticeIFS

4. PAYMENT FOR LC CHARGES/SD CHARGES:

The Purchase Order is required to be in the State Released in the PO Screen.

General Work PracticeIFS

5. BANK GUARANTEE CREATION:

Pre Requisites for creation of BG through Bank Guarantee Screen:

The Purchase Order is required to be in the State Released in the PO Screen.

PATH: Payment/Bank Reporting Data/Sight Draft Entry Screen.

General Work PracticeIFS

6. CREATION OF LIABILITY ON RECEIPT OF GOODS:

The Purchase Order is required to be in the State Released in the PO Screen.

PATH: Invoice/Supplier Invoice /Supplier Invoice Entry

General Work PracticeIFS

7. PAYMENT AGAINST THE EXISTING LIABILITY:

The Purchase Order is required to be in the State Released in the PO Screen.

PATH: Payment/Manual Payment/Supplier Payment /Supplier Payment Screen

General Work PracticeIFS

16. In the Header RMB for Voucher Report.

8. CREATION OF DEBIT INVOICE (LD):

The Purchase Order is required to be in the State Released in the PO Screen.

PATH: Invoice/Supplier Invoice /Supplier Invoice Entry

General Work PracticeIFS

16. Save or F12.

9. KNOCKING OF ADVANCE/LC/SD PAYMENTS WITH THE LIABILITIES:

Advance/LC/SD Payments made.

The Purchase Order is required to be in the State Released in the PO Screen.

PATH: Payment/Manual Payment/Supplier Payment /Supplier Offset Screen

In the General Tab, Click F5 or New.

General Work PracticeIFS

10. CREATION OF LIABILITY WITH DEDUCTION APPLICABLE:

The Purchase Order is required to be in the State Released in the PO Screen.

PATH: Invoice/Supplier Invoice /Supplier Invoice Entry

General Work PracticeIFS

General Work PracticeIFS

11. TDS IN CASE OF ADVANCE PAYMENTS:

The Purchase Order is required to be in the State Released in the PO Screen.

PATH: Payment/ Payment Schedule/ Supplier Schedule/Supplier Payment Schedule

Click F3 or Query in the Supplier ID Field for the required Vendor.

General Work PracticeIFS

9. TDS will be applicable on the amount treated as Advances.

General Work PracticeIFS

38. Select the Line and RMB for Voucher Report.

12. EMPLOYEES ADVANCE PAYMENTS:

PATH: Payment/ Cash Book/ Mixed Payment/ Mixed Payment