Chapter 2. Managing Payments and Banks
The sales and purchase cycle does not finish after the goods are shipped, or the services are provided, and the invoice has been issued. After that, the company has to charge for items delivered and has to pay for services received.
The management of advanced payments, cash payments, or deferred payments is of vital importance for the company. In this chapter, we will learn how to do the following:
- Manage different payment methods such as payment registrations
- Handle incoming and outgoing payments in NAV
- Import bank reconciliation
Managing due dates
When you start working with a new customer or vendor, you reach an agreement with them on when are invoices due. On the Payments tab of the customer and vendor card, ...
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