Managing Retail Inbound Settlement #

The “Retail Inbound Settlement” feature provides an effective way to manage financial transactions related to inbound retail processes, offering easy access to vendor details, payment statuses, and fund allocation. It enables the seamless settlement of inbound orders, ensuring timely payments to vendors while maintaining financial accuracy.

Key Features in the Retail Inbound Settlement Tab #

• Search Capabilities:
  • Vendor Name/Contact/Vendor Code: Filter and search by vendor details to track settlement.
  • Uncleared: Identify uncleared settlements for timely action.
  • Transaction No. and Invoice No.: Find specific transactions or invoices easily.
  • Action: Filter by the action taken during the settlement.
  • Payment Type: Filter payments by types (e.g., wire transfer, credit).
  • Payment Number: Locate payments by specific numbers.
  • Pay Date Range: Filter by the payment date range for more precise results.
• Vendor Information:
  • Vendor Name and Vendor Code: Track settlements per vendor.
  • Balance and Open Balance: View balances and open amounts pending payment.
• Fund Pay Record:
  • Transaction No., Action, and Payment Type
  • Amount, Adjusting Amount, and Use Balance Amount
  • Pay Date, Payment Number, Deposit Date, and Deposit Bank

To Navigate: Accessing Retail Inbound Settlement #

1. Go to the “Basic Data” tab
2. Under Retail Payable, select “Retail Inbound Settlement”
3. The details of retail inbound settlements will appear
4. Right-click on the “Fund Pay Record” tab and you’ll see the option to Add Pay

Details Available in the Retail Inbound Settlement Tab #

The Retail Inbound Settlement tab offers detailed financial data related to each vendor settlement, including:

• Vendor Details: Name, contact, and vendor code
• Balance and Open Balance: The amounts due or outstanding for payment
• Payment and Fund Details: Including transaction number, action, payment type, and amounts (adjusting, use balance, and total)
• Payment Information: Payment date, deposit date, and deposit bank for each transaction

The “Retail Inbound Settlement” module is an essential tool for managing inbound vendor payments efficiently. It allows businesses to track payments, ensure proper fund allocation, and keep vendor relationships in good standing. By using the system to manage payments and fund records, businesses can enhance financial oversight, prevent errors, and ensure that payments are processed promptly.

With this feature, organizations can improve their payment processes, minimize delays, and maintain a healthy cash flow, which is critical for long-term success in retail operations.