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The system does not allow you to settle invoices and payments, in which the invoice was posted after the payment date.
In Spain it is quite common to have to post payments before the invoices arrive. In the case of direct debits, advances etc. And this control that MS has is quite uncomfortable and slows down the financial processes.
In Spain it is quite common to have to post payments before the invoices arrive. In the case of direct debits, advances etc. And this control that MS has is quite uncomfortable and slows down the financial processes.
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This is also an issue in the U.S. where recurring invoices are posted with a month end date, but must be paid prior to the month end date. For example, recurring invoice is posted in Nov for Dec 31 and the payment will be made on Dec 15th.
You can apply a payment and an invoice with this date issue AFTER both transactions are posted, but this is inconvenient and does not work well if you are sending transactions electronically where the bank is expecting invoice numbers.
Category: Financial Management