Overview
After offsetting debts against prepayments, then opposite debts are offset at the partner level and reconciled with counterparties.
This process helps you monitor various cases of opposing debts involving partners who act as customers and vendors, as well as complex contracts with two or more parties.
The system allows you to make offsets of any complexity. However, you have to confirm such offsetting transactions with counterparties before creating the debt offsetting transactions.
Typically, after such operations, it is necessary to perform debt reconciliation with interested counterparties.
As a result, opposing debts offsets and debts reconciliations are performed.
Video guide
Perform debt offset and reconciliation flowchart
Paths
| Path | Sales → Sales reports → All reports → Customer AR/AP → Summary accounts payables and receivables |
|---|---|
| In-app link EN code |
e1cib/data/Catalog.ReportsOptions?ref=978834415df939ee11edf3286dcb92c5
|
| In-app link RU code |
e1cib/data/Справочник.ВариантыОтчетов?ref=8e500050568b35ac11e8e193bcb57393
|
How to check opposing debts
1. Go to Sales, click Sales reports, then click the All reports. Open the Summary accounts payables and receivables report under Customer AR/AP section.
2. In the report, click Settings.
3. In the Report settings window, enable the Advanced mode.
4. Specify Period, select Company, select Partner.
5. Click the Structure tab, enable AR/AP object checkbox, and click Close and generate.
8. Notice, the data shown is related to both: sales and purchasing business scenarios with the partner, and its counterparties.
9. In the Closing balance columns, check if there are opposite receivable and payable amounts.
Paths
| Path | Treasury → AR/AP offset → AR/AP offset |
|---|---|
| In-app link EN code |
e1cib/list/Document.ARAPSettlement
|
| In-app link RU code |
e1cib/list/Документ.ВзаимозачетЗадолженности
|
How to perform opposing debts offset
1. Go to Treasury, then click AR/AP offset under AR/AP offset.
2. Click Create, and click on Transaction field.
3. In the Offset setup wizard window, select Arbitrary offset, or any other required Transaction.
5. Select Debtor - Customer, then select partner.
6. Select Creditor - Vendor, then select partner.
7. Click Accounts receivable tab, select As a list view mode, click Pick by balance.
8. In the opened menu, select the relevant open item, and click Add to document.
9. Click Accounts payable tab, select As a list view mode, click Pick by balance.
10. In the opened menu, select the relevant open item, and click Add to document.
11. Check the opposite amounts at the bottom, and then adjust the largest amount to the smallest. Post the document.
12. In the Summary accounts payables and receivables report, click Generate, check the receivables and payables amounts after offsetting.
Paths
| Path | Treasury → AR/AP offset → AR/AP reconciliations |
|---|---|
| In-app link EN code |
e1cib/list/DocumentJournal.ARAPReconciliations
|
| In-app link RU code |
e1cib/list/ЖурналДокументов.СверкиВзаиморасчетов
|
How to perform debts reconciliation with counterparties
1. Go to Treasury, then click AR/AP reconciliations under AR/AP offset.
2. Click Reconciliation wizard.
3. In the Step 1 of 4, specify a Reconciliation period, select Company, select Counterparty.
4. Select Customer AR/AP and Vendor AR/AP under Payment types, select Reconcile totals by - AR/AP objects, click Next.
5. In the Step 2 of 4, specify a Document date, click Next.
6. In the Step 3 of 4, check the list of AR/AP reconciliation documents to create, click Run.
7. In the Step 3 of 4, check a list of documents just created.
8. Open the document, click on the relevant print form, click print, and send it to the counterparty.
9. Set the On reconciliation status, Post the document.
10. Once you receive confirmation from the counterparty, set the Reconciled without discrepancies status.
11. In case of discrepancies check box, set the Reconciled with discrepancies status, select the Show discrepancies, and enter a new value in the Counterparty cells.