Kathy Barthelt / Wednesday, November 13, 2024

/ Categories: Infor LN & Baan Tips, Finance

Infor LN & Baan Tips & Tricks for FINANCE: Use of Electronic Bank Statements

All actions required for converting, validating, matching, and posting electronically received bank statements can be performed within a single session:

Bank Statement Workbench (tfcmg5610m100)
Bank Statement (tfcmg5610m000)

Alternatively, you can use the sequence of electronic bank statement sessions outlined below.

Steps to Process Electronic Bank Statements:

Convert Electronic Bank Statements (tfcmg5202m000)
Convert the received bank file to a format that LN can process. LN stores the converted bank statement files in the directory specified in the Path For EBS Archive field of the Bank Relations (tfcmg0510m000) session. In the Pathname EBS File field, you must add the file name. To add the current date to the file name, append a tilde (~) to the file name.
Validate Bank Statements (tfcmg5202m000 / tfcmg5510m000 / tfcmg5511m000)
Validate the converted electronic bank statement.
Match Bank Statements (tfcmg5210m000)
Automatically match as many of the imported statements (status Validated) as possible with open items. LN can match the statements with sales invoices, purchase invoices, and anticipated payment documents.

Matching Options:
- Match - Surplus on Aging / Unallocated (Default value)
- Match - Surplus on Unallocated
- Match - Surplus to be allocated Manually
- Allow Underpayments
- Use Payment Difference Tolerance
Matching Results (tfcmg2500m100)
Review the results of the matching process.

To handle an unmatched amount, you can:
- Manually add an unallocated payment or receipt line.
- Reconcile the surplus with remaining open entries of the business partner.
Post Bank Statements (tfcmg5210m100)
Post the bank transactions to the General Ledger.

Update the business partner’s bank account number and other details in the Bank Account by Pay-by Business Partner (tccom4115s000) session, based on the details read from the bank statement file.

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3 Essential Tactics to Increase Efficiency on the Manufacturing Floor

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From John O'Kelly's article on Manufacturing.net:

"Regardless of industry, efficiency gains and increased speed provide a competitive edge. The ever-increasing competition in the manufacturing world makes it necessary to find new, efficient ways to speed up the process while remaining accurate and productive. While flying robots and miracle technologies may promise to reshape the industry, we still have a way to go until full automation, and thus the most important asset on the manufacturing floor in 2019 will remain its people.

In 2019, the focus will undoubtably be increasing efficiencies, and this can be achieved through investing in employees, equipping them with the proper techniques and tools. An invested labor force will limit mistakes on the manufacturing floor and improve throughput at every level of the process."

Here are a few best practices to increase efficiency on the manufacturing floor in 2019:

Invest in your labor force
Prioritize quality assurance
Improve labeling errors

You can read the full article with detailed descriptions at: https://blog.safe.com/

Optimize Your Manufacturing Today!

11Oct2018

BPCS & LX Tip of the Week: Get Real!

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You’ve got an ERP system, so everything should be real-time and everyone should have access to information in real-time, right? RIGHT?!

Why not? Why are there spreadsheets, and separate Access databases off to the side?

Data loses value over time, so why not give everyone up to date, accurate information all the time? Take a look at those silos of information and see how you can eliminate them. Your business will benefit greatly as a result.

Optimize Your Manufacturing Today!

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Tips: LN | Baan

13Nov2024