57 Work with Draft Remittance

This chapter contains these topics:

Section 57.1, "Remitting Magnetic Drafts"
Section 57.2, "Remitting Paper Drafts"
Section 57.3, "Posting Draft Remittance Journal Entries"

You can remit drafts to your bank on magnetic tape or by printing a register. Generally, you must have complete bank account information for your customer in order to use magnetic tape.

Navigation

From Customer & Invoice Entry (G0311), choose Other Invoice Entry Methods

From Other Invoice & Receipts Entry Methods (G03111), choose Draft remittance/Collections

From A/R Drafts Remittance & Collection (G031112), choose an option under the Draft Remittance heading

57.1 Remitting Magnetic Drafts

To remit magnetic drafts, complete the following tasks:

Create draft tape tables
Copy draft tables to tape
Reset the draft tape copy sequence for A/R (optional)

57.1.1 Creating Draft Tape Tables

You can run the Create Draft Tables program in either proof or final mode.

Proof mode	Final mode
In proof mode, this program: Selects drafts accepted but not yet submitted to your bank for collection Prints register reports	In final mode, the program works in the same way as proof mode except that it also: Changes the payment status to G (guaranteed) Creates journal entries to debit the drafts remitted account and credit the drafts received account Creates a tape table that you can copy to tape or diskette and send to your bank

JD Edwards World recommends that you run this program in proof mode before running it in final mode. This allows you to review and correct errors prior to updating records. If the system finds errors during final mode, it prints an error report and does not create journal entries.

Magnetic Draft Remittance reads information from the A/R Ledger table (F0311) and writes information to the Magnetic Draft Remittance table (F03572). The tape table is a multi-member table. Each version you run in final mode creates another member named Mxxx, where xxx is the version number of the Magnetic Draft Remittance program. The tape table must exist in the same library as the A/R Ledger table.

Before You Begin

Copy any existing bank tape tables to magnetic tape. When you run this program in final mode, the program terminates if a bank tape table has already been created but not yet copied to tape.

Figure 57-1 A/R Magnetic Draft Remittance report

Description of ''Figure 57-1 A/R Magnetic Draft Remittance report''

57.1.2 What You Should Know About

Topic	Description
Italian bank payments	To remit drafts to Italian banking institutions, use Magnetic RiBa Remittance (22/G03111). This program performs the same functions as Magnetic Draft Remittance with the exception of the processing options. Processing options grouped under the heading Italian Tape Processing, control the format required for Italian banking institutions.

57.1.3 Copying Draft Tables to Tape

After you create the magnetic tape table, copy the table to a tape or diskette that you send to your bank.

Before performing the copy, this system checks the Bank Tape Sequence table (F04926) to determine whether a copy is pending. That is, the system checks to see if the tape table has been created, but does not check to see if it has been copied to tape.

If the table does not exist or is blank, the system displays a message and stops processing.

57.1.4 Before You Begin

You must load a magnetic tape into a tape drive or a diskette into a disk drive.

To copy a draft table to tape

On Copy Bank Tape File to Tape

Figure 57-2 Copy Bank Tape File to Tape screen

Description of ''Figure 57-2 Copy Bank Tape File to Tape screen''

Accept the default information in the following fields, or make any changes necessary:

Magnetic Draft Version
Tape Density
Tape File Name
Tape Device Name
New Volume Name
New Owner ID

Field	Explanation
Magnetic Draft Version	Identifies a group of items that the system can process together, such as reports, business units, or subledgers.
Tape Density	The density of the tape to be created, for example, 1600, 6250, and so on.
Tape File Name	The identification (such as program number, table number, and report number) that is assigned to an element of software.
Tape Device Name	The device name, for example, QTAPE5 for tape device, TAP01 for cassette device, and so on. If you entered form type O, this represents your production library for the work file.
New Volume Name	The new volume.
New Owner ID	The new owner ID.

57.1.5 Processing Options

See Section 108.8, "A/R Magnetic Draft Remittance (P03572)" for more information.

57.1.6 Resetting the Draft Tape Copy Sequence for A/R

You might need to re-copy an existing bank tape table to tape or diskette if, for example, the tape was lost or damaged in transit to the bank. In order to re-copy the tape, you must reset the tape sequence. You might also need to reset the tape sequence if you need to re-create the tape table, for example, to include an additional draft.

When the system creates a bank tape table, it sets the Sequence field to 1, which prevents the system from changing the table. When you copy the bank table to tape, the system changes this field to blank. Reset Tape Copy Sequence resets the sequence control code in the Bank Tape Sequence table (F04926) to blank so the system can re-create the table.

To reset the draft tape copy sequence for A/R

On Reset Tape Copy Sequence

Figure 57-3 Reset Tape Copy Sequence screen

Description of ''Figure 57-3 Reset Tape Copy Sequence screen''

To locate a bank tape table, complete the following fields:
- Version ID
- Member ID
Remove the value from the following field:
- Sequence

Field	Explanation
Version ID	The A/P payment version that corresponds to the DREAM Writer version selected in A/P payment processing. Form-specific information This is the DREAM Writer version ID you used to create the tape table on Magnetic Tape Remittance.
Member ID	The identification (such as program number, table number, and report number) that is assigned to an element of software. Form-specific information This is the program number that created the tape table. For A/R drafts, the member ID is P03572.
Sequence	Used to ensure that the proper sequence of events occur in draft processing. Valid values are: blank – Table has been copied to tape 1 – Table has been created but not yet copied to tape

Field

Explanation

Version ID

The A/P payment version that corresponds to the DREAM Writer version selected in A/P payment processing.

Form-specific information

This is the DREAM Writer version ID you used to create the tape table on Magnetic Tape Remittance.

Member ID

The identification (such as program number, table number, and report number) that is assigned to an element of software.

Form-specific information

This is the program number that created the tape table. For A/R drafts, the member ID is P03572.

Sequence

Used to ensure that the proper sequence of events occur in draft processing. Valid values are:

blank – Table has been copied to tape

1 – Table has been created but not yet copied to tape

57.2 Remitting Paper Drafts

Generally, it is not possible to remit drafts to your bank on magnetic tape if you do not have complete bank account information for your customer. Instead, you can print a register to send to your bank.

Remitting paper drafts consists of:

Running Paper Draft Remittance
Correcting problems with Paper Draft Remittance

57.2.1 Running Paper Draft Remittance

There are four versions of the Paper Draft Remittance program to run in proof or final mode with or without a Register.

Proof mode	Final mode	With or Without Register
In proof mode, the program: Selects drafts accepted but not yet submitted to your bank for collection Prints register reports	In final mode, the program works in the same way as proof mode except that it also: Changes the payment status to G (guaranteed) Creates journal entries to debit the drafts remitted account and credit the drafts receivable account	Choose the appropriate version depending on whether or not a register was created. The data selection determines which draft records will be created based on the draft's pay status. Caution: DO NOT change the data selection values for pay status as doing so will cause incorrect remittance records.

If you manually created a draft register, you can run a version of Paper Draft Remittance that prints the register. If you have not created a register, you can run a version of this report that creates the register.

When you run this program, the system edits the G/L date against the company date for the drafts receivable and drafts remitted accounts.

For paper draft remittances, the system only reports drafts with payment instrument 3 (supplier draft without bank account number) or with payment instrument 4 (customer draft without bank account number).

When you enter drafts with full bank account information, the system places a Y in the Print field. The Paper Draft Remittance program selects drafts with Print not equal (NE) to Y. Changing the payment instrument for a draft to 0, 1, or 2 does not change the Print field. Therefore, changing the payment instrument does not cause the system to select a draft that was originally entered with a payment instrument of 0, 1, or 2.

JD Edwards World recommends that you run this report in proof mode before running it in final mode. This allows you to review and correct errors prior to updating records. If the system finds errors when running the report in final mode, it prints an error message on the report and does not create journal entries.

This program reads information from the A/R Ledger table (F0311).

Figure 57-4 A/R Magnetic Draft Remittance (A/R Ledger Table) report

Description of ''Figure 57-4 A/R Magnetic Draft Remittance (A/R Ledger Table) report''

57.2.2 Correcting Problems with Paper Draft Remittance

If you encounter errors when running the Paper Draft Remittance report:

Verify that you selected the correct version.
Verify that the G/L date you entered for processing option is correct.
Verify that you are not attempting to include an inappropriate draft. For example, verify that you are not attempting to include a draft with payment instrument 0 (magnetic drafts), 1 (supplier draft with bank account number), or 2 (customer drafts with bank account number).
If you used Draft Selection for Bank Payment to create a register manually:
- Verify that the "as of" date you entered in the processing options is the same as or later than the latest draft due date in the register
- Verify that the register contains only drafts with a payment instrument of 3 or 4

57.2.3 Processing Options

See Section 108.9, "A/R - Manual Draft Remittance (P03570)" for more information.

57.2.4 Data Selection for Paper Draft Remittance

You can change the data selection for payment instrument. The DEMO versions of this report are set to select drafts with a payment instrument of 3 or 4 and to exclude drafts with a payment instrument of 0, 1, or 2.

Because payment instrument is a user defined code (system 00, type PY), you can set up codes other than 0, 1, 2, 3, and 4. You must change the selection values for payment instrument if you add additional codes.

Caution:

Do not change the data selection with regard to pay status. The versions for remittance with register must be Pay Status equal to #. The versions for remittance without register must be Pay Status equal to D.

57.3 Posting Draft Remittance Journal Entries

Navigation

From Customer & Invoice Entry (G0311), choose Other Invoice Entry Methods

From Other Invoice & Receipts Entry Methods (G03111), choose Draft remittance/Collections

From A/R Drafts Remittance & Collection (G031112), choose an option under the Journal Entry Review & Post heading

After you remit drafts, you must review and post journal entries. Posting debits the drafts remittance account and credits the drafts receivable account.

All JD Edwards World's journal review and post programs work in the same way.