Manage Bank Returns

After the bank return file is imported or created from a spreadsheet, you can review the bank returns as discussed previously. You can also correct payment time withholding taxes that lead to the automatic generation of payment time withholding adjustments. A receipt is automatically created for the credit amount received.

Debit memos are created for the difference between received interest versus calculated interest, which are above the tolerance. Interest adjustments are automatically created for the received interest.

Interest write-off adjustments are automatically created for the difference between received interest versus calculated interest which are within the tolerance limits.

Abatement adjustments are created only for the difference between abatement concessions versus received abatement which are within the tolerance limits, otherwise the amounts are kept open in payment schedules for future collections and negotiations.

Discounts are applied along with the receipt when they match with the configured discount. If there is no match, a receipt is generated for the paid amount only, and the payment schedule remains open.

To fix bank returns data issues, follow these steps:

1. Navigate to Receivables and Accounts Receivables.
2. Click Tasks.
3. From the Bank Returns for Brazil menu, select Manage Bank Returns.
4. Search for bank returns, by selecting one of the options:
   • Files Pending Validation
   • Files Pending Processing Validated Files with Errors
     Note:

     Once the bank return is found, and if the status is displayed as an error, then you can:

   • Fix the data issues, such as wrong inscription number or company name, upload, and validate it again.
   • Fix the problematic amounts, upload and validate it again. Successful completion of the data import leads to the automatic creation of adjustments and debit memos.