Payment and Invoice Concept on Fund management - value types [57,54]

[former_member2128]

Dear Experts ,

i appreciate your support to differentiate between the value type [ 57 , 54 ] from Fund management perspective and Fund management perspective

Really i have confusion about the two perspective

the below sample Comparison between the two perspectives, appreciate your support to clear the confusion that i have

value type [ 57 , 54 ] Financial perspective VS Fund management perspective

Financial perspective :-

- 57 Payments:- consist all of outgoing payment or incoming payment .

- 54Invoices invoice :- is a commercial document that itemizes a display while miro trx created transaction between a buyer and a seller.

Fund management perspective 57 Payments& :- has the same meaning , all of them will transfer and create on fund management through invoice creation , also i cant transfer the payment document to the FM although online payment had activated .

SO my question why FM module separated them is the has the same meaning and cant differentiate them

appreciate your support

[iklovski]

Hi,

As I mentioned in your other thread, these two value types are completely different, both from technical and functional aspects. You might have different budget for payment and you might consider it consumed only on the fact of the payment itself, i.e. when the invoice is processed through a payment run.

Regards,

Eli

[TammyPowlas]

57 is when you have paid the invoice; this is important for cash basis accounting

So here in the US, when the payment program has run (F110) the open invoices (54) become paid (value type 57)