Settlements

This section allows the full control and maintenance of Purchase Ledger Settlements. This section allows the ability to Create/Add, Edit, Delete and Post/Reverse Settlements. This section is controlled by security which is maintained at Settings > Security > System Security > Financial > Purchase Ledger > Settlements. The Settlement section is used to record payment to Suppliers to pay invoices raised for such Suppliers.

Adding a Settlement

Simply select the relevant Master Entity, Period and Supplier, then Add Settlement, complete relevant information and use the save option to save the record only or use the save and post option to save and then post the record to accounting ledger. The system also has the ability to either single or multi settle a purchase invoice.

Once a Settlement has been created and Posted, the settlement invoice amount will pay off the linked purchase invoice with relevant accounting journal created in Purchase Ledger Enquiry and General Ledger Enquiry for the Supplier and Master Entity records

Purchase Settlement can also be done at the General Ledger  (Enquiry and Transactions screens) and Purchase Invoice Screens

General Ledger

This option is available via the enVisual Menu > Financial > General Ledger > G/L Enquiry and Transactions sections using the left panel Quick PL Settlements. This allows the ability to quickly raise a Settlement for an Invoice. The option has the ability to either single settle an invoice or multi settle invoices.

Purchase Invoice

This option is found on the Purchase Invoice grid using the RCM > Create Settlement at enVisual Menu > Financial > Purchase Ledger > Purchase Invoice. Similar to the General Ledger section, this section also allows the ability to quickly raise a Settlement for an Invoice. The option has the ability to either single settle an invoice or multi settle invoices.