Cash Flow Setup
Before starting to work with the functionality, you need to make some settings:
1. Creating a Cash Flow Account
Create Cash Flow Accounts for the source types offered by SMART Cash Flow. To do this:
- Click the button
, which opens the Search function, enter Cash Flow Accounts Chart, and follow the appropriate link. - Click the New button
. - On the Cash Flow Account Card page, fill in the No., Name, and Account Type fields, and in the Source Type field, select Sales Payment Plan.
- Repeat the previous step and create a Cash Flow Account Card for the Source Type - Purchase Payment Plan.
2. Cash Flow Module Setup
Click the button , which opens the Search function, enter Cash Flow Setup, and follow the appropriate link.
On the settings card, fill in the required fields (SMART Cash Flow application functionality):
| Field | Description |
|---|---|
| Additional Reporting Currency | Specifies the code of the currency set as an additional reporting currency. |
| Default General Journal Template | Specifies the default general journal template to be used for creating payments from the Cash Flow Ledger Entries page. |
To ensure the mandatory completion of the Cash Flow Forecast Entry No. in the selected general journal template, enable the following field:
Cash Flow Forecast Entry No. Mandatory – specifies that entering the cash flow forecast entry is mandatory in the general journal lines.
3. Default Payment Plan Settings
In order for the system to automatically fill in the Default Payment Plan when creating a customer, you should:
- Click the button , which opens the Search function, enter Sales & Receivables Setup, and follow the appropriate link.
- In the Default Payment Plan field, select the appropriate value from the drop-down list:
Empty - cash flow ledger entries will be generated using the standard method, depending on the payment terms specified on the customer's card;
For Agreement - cash flow ledger entries will be generated based on entries in the Contract receivables plan;
For Invoice - cash flow ledger entries will be generated by account, depending on the Payment Conditions.
When creating an agreement with a customer, the value of the Payment Plan field specified in the customer card is automatically transferred to the agreement card.
To set up a Payment Plan for vendors, you need to follow the same steps as for customers on the Purchases & Payables Setup page.