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IMOS - Payments and Receipts

The Veson IMOS Platform is the market-leading cloud solution for commercial marine freight and fleet management.

On the Payments and Receipts form, you can enter a final payment or receipt (including credit and debit memos), or finalize a bank transfer.

You can also use this form to enter Advance Payments or Receipts.

Creating a Payment or Receipt

  1. To open the Payments and Receipts form, do one of the following:
    • On the Financials menu
      , under Transactions, click Payments and Receipts.
    • On the Transaction Data Entry toolbar, click Pay Current Invoice.
  2. Select either Make Payment or Enter Receipt .
  3. Click + .

  4. Complete the Payment Instructions or Receipt Instructions form:
    1. Select the Company making or receiving the payment, the Bank, and the Vendor.
      *A common "Invoice currency is missing" error message when making a payment indicates that the currency code is missing in the company's >Bank Links information in their address book details.
    2. Enter the Date and the IMOS Trans No.
    3. Select the Currency.
    4. Select the payment Mode.
    5. Click OK.
  5. The transaction appears on the Payments and Receipts form. If more than one invoice is outstanding for the selected vendor, all appear, one invoice per line, with their corresponding expected amounts.
    1. For each invoice you want to pay or enter a receipt for, select its S check box.
    2. The Amount to Pay column for each selected invoice automatically populates; you can edit the value as needed. The Total Pay Amount appears below the invoice lines. If the invoice is in currency other than the base currency, the resulting foreign Exchange Differential appears in the last column of the invoice line.
    3. Enter the Bank Charge, if any, and the Bank Charge Ledger Code, for example, if this is a wire transfer. Enter any Other Charge and the Other Charge Ledger Code.
  6. Save the form. If this is a final payment, select the Final check box at the bottom of the form to post the payment. For foreign currency payments, the system automatically calculates and books the foreign exchange difference against the account specified in the General Ledger. The difference is calculated based on the invoice booking exchange rate compared to the bank exchange rate; it appears in the Exch Diff column.

Note: Bank Charges do not reflect on the P&L screen. You may create an account analysis report to view these charges

Predefining Company in Payment Instructions

To predefine a company, a Payment Company needs to be set up on the Address Properties panel.

Finalizing a Bank Transfer

To finalize a wire transfer transaction:

  1. On the Payments and Receipts form, click
  2. On the Retrieve Payment/Receipt form, select the Include Advance Payment/Receipt in Results check box and click
  3. Select the bank transfer.
  4. On the Payments and Receipts form, select the Final check box, enter the Bank Charge and Ledger Code and then click Finalize Bank Transfer.

Canceling a Payment/Receipt

On the Payments and Receipts form, do the following:

  1. Before canceling a payment/receipt, you can right-click its line to view its details. Close the Pay Invoice Details form to return to Payments and Receipts.
  2. Select the payment/receipt that you want to cancel by selecting its S check box.
  3. Click Cancel Payment/Receipt.

  4. Enter a Reversal Date and then click OK.

Related Configuration Flags
Pay Prevent Save If Released

Prevents saving a payment/receipt more than once when paymentExport notification is enabled.

No Default Reversal Date

For reversals, leaves the reversal date blank for entry, rather than defaulting to the current date.

Pay Final by Default

Selects the Final check box by default.

Limit Bank Charge Accounts
When enabled, balance sheet and revenue accounts will be excluded from the Bank Charge account code drop-down menu.
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