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ReportI want to know that what is the functionality under navision regarding cheque received from customer.
I will wait for your response.
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I want to know that what is the functionality under navision regarding cheque received from customer.
I will wait for your response.
Thanks
*This post is locked for comments
Yes, create a bank account card for outstanding cheques (received from customer but not cleared). When posting the cash receipt journal, balance the line with this bank. That means, until the cheque is cleared, it won't be visible on the ledger of actual bank. When the cheque is cleared, post the journal for the amount crediting 'Outstanding Cheques' bank account and debiting your actual Bank Account. Benefit of such approach is that you close the customer ledger entry, but not affect bank ledger until it actual is accepted, so your bank reconciliation is easier.
It creates some more work, and usually companies post cheques to the actual bank account on the 'optimistic' basis, and if it bounces back, then they credit actual bank account.
Your choice how you manage it, and very much depends on amount of cheques you receive and how many bounce back.
Robertas
Means to create a bank account with name of Outstanding cheques. once its cleared then transferred the amount to relevant bank account ?
Hi Rajat,
As Robertas mentioned you can create a specific batch template for cheque received and set number series manually in journal line according cheque number.
Regards,
Paras Mehan
There isn't much in standard NAV to record additional cheque details. You can post it against a specific bank account (outstanding cheques), and when the cheque is cleared, then move the amount between banks. But nothing else to hold that information.
Robertas
Thanks Robertas.
Thanks, If i need to record check details for that need to do customisation ?
Because there may be different dates of cheque received and clearance of cheque.
Is there any standard in navision for that or not ?
Hi Rajat,
to add to Hannes response, I would have a specific Batch in the Cash Receive Journal that allows manual numbers ('No. Series' would be blank on the Batch setup). Then put cheque number in the 'Document No.' field, as that will help you doing bank reconciliation.
Robertas
Hi,
A cheque represents money you will receive. Simply create a line in the "Cash Receipt Journal" and apply it against the invoice.
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