what is concept behind incoming payment and outgoing
payment?
Answers were Sorted based on User's Feedback
Answer / narsing rao
In SAP B1, Basically when we raise Accounts Payable(A/P)
Invoice means we are crediting the Vendor and Debit the
Expenses. And when we are paying to that Particular Vendor
or General Ledger account,we use Outgoing Payment and
Select the Payment means through which we are Paying and
raise the Outgoing Payment.
Similarly when an Account Recievable(A/R) invoice is
raised us to the Customer Account and when we receive the
Amount from that,then we will raise Incoming Payment.
Is This Answer Correct ? | 37 Yes | 8 No |
Answer / savita acharya
Outgoing Payments need not be only in relation to Account
Payable Invoices. It can be for any payment to third
parties be in Vendors or Government dues (Excise Duty). In
case we create the employees as vendors direct payment of
Salary(Outgoing) can be created. Outgoing payments also
arise when we have received advance from customers and we
need to pay it back to them.
The same applies to Incoming Payment - the only difference
is that usually Government dues are not received back.
Is This Answer Correct ? | 15 Yes | 7 No |
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