Remittance Booking

Access an existing Remittance Worksheet #

You may want to access existing Remittance Worksheets in order to view existing details, record new information, or to make changes to the worksheet.

If a remittance is ‘In Progress’, ‘Planned’ or ‘Authorised’ (only for Paid Remittances), you can change existing information already recorded on the remittance. You can also change its status to ‘Inactive’, or you can close it, i.e. change the status to ‘Final’. A Final remittance cannot be changed except for a few fields like references and Notes. If Remittance system parameter ‘Validation of Value/Due Date on Remittance’ is activated, also the Value Date and the Due Date can be changed (refer to System Administrators Guide for more information). System supports to update remittance manually or via Web services. Same updating rules apply for both updating methods.

You can open existing Remittance Worksheets from different parts of SICS. In addition to the procedures described below, Remittance Worksheet properties may be accessed from Settlement Balances and Account Balances when Remittance worksheets are included in these groups.

To open a Remittance Worksheet from the Business Partner Ledger window:

1. Open the Business Partner Ledger where the Remittance Worksheet is booked.
2. Select Remittance among the Balance Types and if applicable specify further search criteria
3. Select the Remittance Worksheet you are searching for and open it by double-clicking or selecting Open Remittance Properties from the menu.

(For further information about how to access and search for information in a Business Partner Ledger see chapter The Business Partner Ledger.)

To open a Remittance Worksheet from the Business Partner Properties window:

1. Select the Business Partner for whom the Remittance Worksheet applies from the Find: Business Partner window.
2. Select the Remittance Worksheet button from the Business Partner Properties window

The Select Pending Remittances window appears if open remittances exist for the Business Partner

3. Select the Remittance Worksheet you are searching for.

(For further information about how to access and search for Business Partner information, see chapter Find a Business Partner.)

To open a Remittance Worksheet from the ‘Find: Accounting Worksheet window’:

1. Select Remittance as Worksheet Type from the Find: Accounting Worksheet window.
2. Specify further search criteria if applicable
3. Select the Remittance Worksheet you are searching for from the displayed worksheet list.

(For further information about how to access and search for worksheets, see chapter Find Worksheets.)

Open a New Remittance Worksheet Manually #

You can open New Remittance Worksheets when:

• Payments are received from Business Partners
• Account Balances are to be paid to Business Partners
• Paid Remittances are made to Business Partners

When opening a new remittance, ‘Received’ remittance is open by default. You can make ‘Paid’ remittance as default by selecting a parameter in System Parameter> Accounting >Remittance as ' Paid Remittance as Default'

To open a new Remittance Worksheet from the Business Partner Ledger window:

1. Open the Business Partner Ledger for the Business Partner the new Remittance Worksheet is to be booked
2. Select Make New Remittance from the pop-up menu.

If pending remittances exist, the Select Pending Remittances window appears. Select New from the menu in this window. (For further information about how to access and search for information in a Business Partner Ledger see chapter The Business Partner Ledger.)

To open a new Remittance Worksheet from the Business Partner Properties window:

1. Select the Business Partner, for whom the Remittance Worksheet is to be booked, from the Business Partner display list.
2. Select the Remittance Worksheet button from the Business Partner Properties window
3. The Select Pending Remittances window appears if open remittances exist for the Business Partner. Select New from the menu in this window

(For further information about how to access and search for Business Partner information see the chapter Find a Business Partner.)

To open a new Remittance Worksheet from the ‘Find: Accounting Worksheet’ window:

1. Select New Remittance Worksheet from the display list in the Find: Accounting Worksheet window. The Find: Business Partner window appears.
2. Select the Business Partner, for whom the Remittance Worksheet is to be booked, from the Business Partner display list.

The Select Pending Remittances window appears if open remittances exist for the Business Partner. Select New from the menu in this window. (For further information about how to access and search for worksheets, see section Find a Worksheet on page 11-125.)

Enter Details in the Remittance Worksheet #

When a new Remittance worksheet is opened manually most fields are empty but some fields are defaulted by the system. Status, direction, payment type and system parameters determine the information required in the worksheet.

1. Open a Remittance Worksheet manually. (See the chapter Open a New Remittance Worksheet Manually on page 11-360.)
2. Select the Status(e.g. Planned, Final) of the worksheet, define the Direction(Paid/Received) and select the Payment Type (Check, Wire, etc.)
3. Register the other details accordingly. Refer to the field descriptions below.
4. Click Apply to save your worksheet. The system validates the details and makes sure that all mandatory information is entered. A Remittance ID is assigned.
5. When all details are entered and the worksheet has gone through all necessary statuses, change the status to Final and click OK. It is no longer possible to modify the worksheet.

If the ‘Grouping of Internal Remittances’and the ‘Internal Remittances Equal Zero’ system parameters are set, SICS creates a link between the internal remittances forming the group that made the sum zero. Note! It is possible to restrict users from specific statuses. For example, a claim handler is only allowed to set the remittance to In Progress, while a claim manager is allowed to change it to Authorised. (See your System Administrator regarding the set up of System Parameters and Security.)

To copy a remittance in same worksheet:

More than one remittance can be created in the same worksheet. If most of the information for an existing remittance applies for a new remittance you can select to copy the existing remittance.

1. Select one of the remittances already entered into the worksheet.
2. Select Copy from the pop-up list in the Remittance display area. A new remittance appears. Several fields are copied from the source remittance to the new remittance.
3. Make your adjustment to the new remittance.
4. Click Apply to save the new remittance.

The new remittance is saved with a unique worksheet ID in addition to the existing remittance(s) in the worksheet.

To add a new remittance in same worksheet:

You can also create a new remittance in the same worksheet.

1. Select one of the remittances already entered into the worksheet.
2. Select New Remittance from the pop-up list in the Remittance display area. Most fields are empty but some fields are defaulted by the system in the new remittance.
3. Make your adjustment to the new remittance.
4. Click Apply to save the new remittance.

The new remittance is saved with unique worksheet ID in addition to the existing remittance(s) in the worksheet.

To include pending remittances in same worksheet:

You can also include Pending Balances (from the Pending Remittances window) in your worksheet.

1. Select More Pending Balances from the pop-up menu in the Remittance display area. The Pending Remittances window appears.
2. Select one or more of the pending balances and select Transfer Selected from the pop-up menu. The transferred balance is included in the worksheet with the worksheet ID’s previously assigned.
3. Make adjustment to the pending remittance(s).
4. Select Apply to update your changes to the worksheet.

To delete a remittance from worksheet:

When a remittance is incorrectly recorded you can remove all details entered if the remittance is not yet applied to the worksheet.

1. Select a remittance from the worksheet. The worksheet cannot have a Worksheet ID.
2. Select Delete from the pop-up menu in the Remittance display area.

The remittance is removed. Also note if you click the Cancel button, all changes done in the worksheet since ‘apply’ was last selected, are removed.

Maintain Functional Currency for the Remittance balance #

If you want to inspect or change the Functional Currency Exchange Rates before the remittance status is set to Final, you select the Calculate Functional Currencies option. This option is available in the Business Partner Remittance Worksheet window of an open Worksheet. The defaulted exchange rates can be overruled depending on system parameter settings. See Currency under Accounting chapter of Maintain System Parameters in the_System Administrator Guide_ for more details.

If the remittance is a reversal of another remittance the Functional Amount is copied from the source remittance if defined so in the system parameters, else the default exchange rate is the same as the general rule for all other new remittances; the current daily rate between the original currency and the functional currency.

If the pending remittance is a Group Remittance member the option is disabled. It is only possible to maintain the functional currency on the group owner itself and let the system recalculate the functional amount on the group members.

1. Select Calculate Functional Currencies from the menu button on the Remittance Properties tab. You see the Calculate Functional Currency window.

2. Manually overrule the given exchange rates in the Rate column for Functional Currency 1 (FC 1) and/or Functional Currency 2 (FC 2) and let the system calculate the Functional Amount. 3. Or manually overrule the calculated Functional Amount directly and let the system calculate and display the rate rounded to 6 decimals. 4. Save the input. 5. The saved functional currency amounts will be used when the remittance worksheet is saved to the database.

Note! If the remittance property is reopened before the status is set to Final it is possible to change the functional currency rate/amount again, but be aware that the displayed rates are not stored in the database but calculated by use of the functional currency amounts so they can vary from the entered rates.

Note! When the Functional Currency rate/amount is manually changed, the pop-up menu option flag Functional Currency is Manually Set by User is set to true. When a pending remittance is reopened, this flag remains true which means that the FC is not being recalculated. Furthermore, the FC is not being recalculated when changing e.g. the Partner’s Reference or when changing the Status to another pending remittance status or to Final. When changing the following information, the flag Functional Currency is Manually Set by User is set to False and the FC is recalculated; Received/Paid Indicator Payment Currency/Amount Bank Currency/Amount (but only if system parameter Use Bank Amount on Remittances in FC calculation is ON) Base Company, Reporting Unit (but only if special FC Currency is defined for the Reproting Unit) Value Date/Due Date (but only is special Functional Currency Exchange Rules are defined for Remittance) Date of Booking (but only is special Functional Currency Exchange Rules are defined for Remittance).

Note! This flag, Functional Currency is Manually Set by User, is also set to True when a reversal remittance is created and the system parameter Reverse with Re-Calculation is OFF, independent if the system parameter Change Functional Currency Rate For Pending Remittance is selected or not. This flag is used to keep the FC amounts also when status is changed on the remittance. This flag is visible on the remittance only if the system parameter Change Functional Currency Rate For Pending Remittance is ON, else it is hidden. If information on the remittance is manually changed by the user, see the list of information above, then the FC amounts are recalculated and the flag is set to false.

NB! The Business Link tab is visible only if the system parameter Link Business Insured Period To Remittances is activated

Split Payment Amount by Bank Accounts #

When a Paid Remittance is created and later it is actually paid by the financial department and there is insufficient amount in the foreign currency bank account you may want to split the bank currency/amount in different currencies.

NB! This function is enabled only when system parameter Enable Remittance Bank Account Split is selected and only when the remittance status is Authorized. Furthermore the user must have special access rights to perform the function.

When a Bank Account Split has been made for a remittance balance it is no longer possible to change the direction to Received. But it is possible to change the Payment Currency/Amount and the Bank Currency/Amount on the remittance and it is the user’s responsibility to update the Bank Account Split accordingly.

To create the Bank Account Split:

1. Open the Remittance Worksheet for which you want to create the Bank Account Split, it must be a Paid Remittance in Status Authorized.
2. Select Bank Account Split from the Menu button at the bottom of the window.
3. The Remittance Payment Amount Split By Bank Account window appears. The payment and bank information is copied from the remittance as default values.

View the Remittance Status Log #

You may want to see the date and by whom the different statuses of the Remittance Worksheet have been changed and updated.

To see the status log:

1. Open the Remittance Worksheet for which you want to view the historical status.
2. Select View Status Log from the Menu button at the bottom of the window. The Remittance Status Log window appears.

Create a Remittance Notification #

When the Remittance Worksheet is applied you can create and send a notification to another user. I.e. if you are not authorised to change the Status from In Progress to_Authorised_ or _Final_, you can send a notification to a person with this authorisation to fulfil the remittance workflow.

1. Open the Remittance Worksheet for which you want to create a Remittance Notification
2. Select Attach Notifier from the menu button. The Notifications window appears.
3. Enter the applicable information and click OK

The receiver of the notification can open the remittance directly through the attachment of the notification.

For further information regarding Notification see chapter Getting Started.

Reverse a Remittance #

When, for instance, a remittance worksheet has been booked in error, you can choose to reverse the worksheet.

Note! The worksheet has to be ‘Unsettled’ and have the status ‘Final’.

The defaulted payment type of the reversal/annulling remittance is the same as the type of the original remittance, unless your system administrator has decided that the defaulted payment type shall be of a Void type.

When the system parameter ‘Void remittance When Reverse’ has been selected, the defaulted payment type of a reversal/annulling remittance is according to the below table.

The table below shows the original remittance types with their corresponding reversal type when the system parameter ‘Void Remittance When Reverse’ is selected.

To reverse a remittance worksheet:

1. Open the business partner ledger where the unsettled remittance worksheet to be reversed is booked.
2. Select the worksheet and select Reverse and Worksheet or Balance from the pop-up menu. A worksheet with reversed signs appears.
3. Make changes to details such as date of booking, booking year/period, etc., in the reversed worksheet.
4. Click Apply and OK.

The reversed worksheet is booked in the business partner ledger. The Note field indicates which worksheet ID that has been reversed. The system pairs the reversed balances only in case of reversal of a bank charge remittance.

Copy a Remittance #

When most of the information in one remittance worksheet is relevant also for the new remittance worksheet you are about to book, you can select to copy. The source remittance worksheet has to be Unsettled and have the status Final.

1. Open the Business Partner Ledger where the unsettled Remittance Worksheet to be copied is booked.
2. Select the worksheet and select Copy and Worksheet or Balance from the pop-up menu. A copied worksheet appears.
3. Make the necessary changes to the details that are copied from the source worksheet.
4. Click Apply and OK.

The copied worksheet is booked in the Business Partner Ledger. The new worksheet’s Note indicates the source worksheet’s ID.

Reverse and Replace a Remittance #

The Reverse and Replace of Remittance function is relevant when you want to move an unsettled remittance with status Final from one business partner to another, or from one base company/reporting unit to another.

To reverse and replace a remittance:

1. Open the business partner ledger where the applicable remittance worksheet is booked.
2. Select the worksheet and select Reverse and Replace Remittance from the pop-up menu. The Business Partner Remittance Worksheet window opens.

SICS creates reversed and replaced remittances based on the source remittance. 3. If required, modify the Partner’s Reference and Notes fields on the reversed worksheet Additionally, on the replace worksheet, modify the Base Company/Remittance Unit and Payment Partner field. 4. Click Apply and OK when you have made your changes. SICS now books the replaced and reversed remittances with payment type ‘Interal’ on the business partner ledger. In the Notes field you can see the source remittance being reversed and replaced.

Book Bank Charges #

When a received remittance balances is already booked as net (the Charges field on the remittance balance is empty and the Payment amount reflects the original payment from the client less the bank charges) and you want to book the bank charges, you can create a Bank Charges remittance worksheet with a link to the source remittance. The Accounting/Remittance parameter Book Bank Charges as separate Remittances has to be selected. (Refer to your System Administrator for further information).

1. Open the Business Partner Ledger where the received net remittance balance is already booked.
2. Select the Remittance Balance
3. Select Book Bank Charges from the pop-up menu. A Remittance Worksheet appears.
4. Define the Bank Charges Currency and -Amount
5. Click Apply or OK to store the worksheet.

The Bank Charges Remittance Worksheet fields have predefined information from the source remittance balance. Apart from the fields Charges Currency/Amount-, Date of Booking- and BYRP, all other fields are disabled.

The Bank Charges Remittance is booked with Payment Type Bank Charges. When the source Remittance Worksheet is included in a Balance Pairing, the linked Bank Charges are included automatically.

Auto Generate Payment Request #

You can automatically generate a remittance worksheet for a balance due from you. Most of the generated worksheet’s fields get populated with information from the balance due.

The balance to be paid can be selected from:

• The Business Partner Ledger
• The View Associated Balances.
• Refer to the chapter View Associated Balances on page 11-558
• The Claim Ledger
• The Claim Worksheet
• The Installment schedule of a Non Proportional Outwards Cedent’s Contract

The Status field in the generated worksheet is defined In Progress and the Payment Type is defined as Wire. Most fields are editable except the direction of worksheet and the Payment Currency and -Amount fields, which are copied from the source balance.

When the system stores the Remittance, a pairing between the Remittance WS and the source balance is created.

SICS does not make an automatic balance pairing between members of a settlement balance group and a remittance unless the’Automatic Balance Pairing when Change of Remittance status’ (Accounting tab/Remittance subtab) is in use.

Note! This function depends on and behaves according to the settings of the Accounting/Remittance system parameters ‘Pairing Allowed on Open Remittance ‘and ‘Pairing Allowed on Open Status Authorized only ‘. (Refer to your System Administrator for further information.)

Note! When a remittance is created in the Auto Generate Payment Request function, the only options available in SICS are to save the remittance (by selecting OK) or to cancel the whole operation (by selecting Cancel). You can only create a new or copy an existing remittance if it is been manually created.

To auto-generate payment request from the Business Partner Ledger:

1. Open the Business Partner Ledger where the balance due for payment is booked.
2. Select the due balance
3. Select Generate Payment Request from the pop-up menu. A Paid Remittance Worksheet appears.
4. Update the fields of the worksheet and click Apply/OK

The Settlement Indicator of the balance due from you may be Unsettled or Partially Settled.

To auto-generate payment request from the View Associated Balances window:

1. Open the Business Partner Ledger.
2. Select a Settled Balance with associated balances.
3. Select View Associated Balances from the pop-up menu. The View Associated Balances window appears.
4. Select a balance with a Payable Part.
5. Select Generate Payment Request from the pop-up menu. A Paid Remittance Worksheet appears.
6. Update the fields of the worksheet and click Apply/OK

The Unsettled Part of the balance due from you may be equal or different from the Original Amount.

To auto-generate payment request from the Claim Ledger:

1. Open the Claim Ledger of the claim where the balance due for payment is booked.
2. Select the worksheet with the adjustment due for settlement.
3. Select a balance from the List Chooser window.
4. Select Generate Paid Remittance from the pop-up menu. A Paid Remittance Worksheet appears.
5. Update the fields of the worksheet and click Apply/OK.

The balance due for payment is only selectable when the status is Closed and the transferred to ledger indicator Yes.

(Refer to the chapter Claim Ledger - Details Claim Worksheet Bookings for further information).

To auto-generate payment request from the Claim Worksheet:

1. Make your bookings in the Claim Worksheet. When Worksheet Status is changed to Closed, a Generate Paid Remittance check box is enabled.
2. Select the Generate Paid Remittance check box and click OK in the Claim Worksheet. A Paid Remittance Worksheet appears.
3. Update the fields of the worksheet and click Apply/OK.

To auto-generate payment request from the Non Proportional OCC’s instalment schedule:

Note! The installment itself does not have to be booked in order to generate the remittances.

1. Open the Limit/Premium condition of the OCC and navigate to the Instalments tab.
2. Select the Premium Accounting button
3. Highlight the installment for which you want to create payment request, and select “Book Remittance for selected Instalment” from the popup menu. Note that this option appears on a Non Proportional Outward Cedent’s Contract only.

4. Respond “Yes” to the message that appears whether you want to generate for all retrocessionaires. (No will cancel the remittance generation.) 5. Message AC0227 appears - listing the worksheet IDs of the remittance worksheets created. One remittance worksheet is created per placement.

The “Paid” column in the Premium Accounting display list is updated for the relevant installment, both on the OCC as well as on placement level.

The remittance worksheets are created with default information as well as a link to the corresponding instalment as partner’s reference. If the Retrocessionaire is placed through an Intermediary (Broker) and the Broker has the Payment task the remittance will be assigned to the Broker. In other words, the partner with the Payment Task will be assigned as Business Partner on the remittance and the Retrocessionaire will be assigned as the Responsible BP on the remittance.

Remittance Grouping #

When a paid remittance is created or a payment is received and you would like to match it with a Settlement Balance Group, you create and maintain a Remittance Group.

For both paid and received remittances the payment transfers are created in such a way that the Base Company, Inward/Outward Business and System (P&C/Life) can be correctly recorded in the General Ledger System.

The Accounting system parameter ‘Group Remittance in use’ on the Remittance tab has to be activated to be able to use this feature. For more information about this system parameter, refer the System Parameter Maintenance chapter in the System Administrator’s Guide.

It is possible to create a Remittance Group both manually from a Single Remittance and automatically.

For manual creation of groups, see sections Create a Remittance Group from a Single Remittance on page 11-403 and_Maintain a Remittance Group on page 11-404_ below.

For automated creation of groups, see section Create Remittance Groups Automatically on page 11-409.

Example of a Remittance Group:

The Remittance Grouping is relevant when a Remittance covers more than one combination of:

1. Base Company (e.g. DXC Oslo and DXC Stockholm)
2. System (i.e. P&C and Life)
3. Direction of Business (i.e. Inward and Outward) (Only relevant if system parameter ‘Indicator for Level on Remittance Worksheet is Mandatory’ is activated. For more information about Remittance system parameters, refer to the System Parameter Maintenance chapter in the System Administrator’s Guide.)

Technical Balances in P&C:

These balances are grouped in a Settlement Balance of NOK -9.000,-

Technical Balances in SICS Life:

These balances are grouped in a Settlement Balance of NOK -1.000,-

When a Remittance is linked to the Settlement Balance of NOK - 9.000,- the following worksheet is created:

In addition the following Remittance worksheet has to be created in the SICS Life system:

Payment Types #

This table describes the different payment types that SICS allows you to use.

** Exception:
If, in total, only one Group Internal and no Group External have been created, no Group Members will be created. For a created Paid Remittance the type will be ‘Wire’ rather than ‘Group Wire’. For an existing received remittance, the type will remain unchanged. The link between the Settlement Balance and the Remittance Balance is still established.**

Create a Remittance Group from a Single Remittance #

When you have registered a single remittance you can transform it into a Remittance Group. You can maintain the created Remittance Group and later link it to a Settlement Balance Group.

1. Start from a single paid/received remittance of payment type Wire or Check that is not closed for updates. The details of the Remittance Worksheet are already recorded. For information about how to enter details on a worksheet, refer to Enter Details in the Remittance Worksheet on page 11-364.
2. Select Transform to Group from the pop-up menu.

The system transforms the remittance into a Group Remittance. 3. Maintain the group by, for example, creating, removing or editing group members. For more information about how to maintain a remittance group, refer to Maintain a Remittance Group on page 11-404. 4. When you are happy with your Remittance Group you can link it to a Settlement Balance Group. For information about how to link a remittance group to a settlement balance group, refer to Link a Remittance Group to a Settlement Balance Group on page 11-413. 5. Save the Remittance Group Worksheet by selecting Apply or OK.

When the SICS transforms the Single Remittance into a Group Remittance, it also does the following:

• The Payment Type Wire/Check is transformed to Group Wire or Group Check. This is the Group Owner.
• Creates three Group members: Group Reversal, Group External and Group External Reversal .

Remittance Classification Group #

Both for paid and received remittances the payment transfers are created in such a way that the single remittance can be broken down into multiple group internal remittance worksheets according to the different classifications.

The Accounting system parameter ‘Is Classification Group Remittance In Use’ located in the Remittance tab, has to be activated to be able to use this functionality. For more information about this system parameter, refer the System Parameter Maintenance chapter in the System Administrator’s Guide.

It is possible to create a Remittance Classification Group manually from a Single Remittance.

For manual creation of classification groups, see sections Create Remittance Classification Group from a Single Remittance and Maintain a Remittance Classification Group below.

Example of a Remittance Classification Group:

The Remittance Classification Grouping is relevant when a Remittance is supposed to be broken down into multiple internal remittances according to the different classifications.

Example: The source single remittance worksheet is NOK 10.000. It will be split into four internal remittance worksheets according to the classifications.

Remittance Classification Group:

As per the classification information, the system will create the following worksheets:

On the More Details tab on each remittance, the classifications information will be shown in the fields Rem Class 1, Rem Class 2 and Rem Class 3 matching each of the group internal members. On both the Group Wire and Group Reversal, these 3 fields are empty.

The system lets you select any of the group members and Create Balance Pairing and include technical/claim balances in the same way as if it was a standalone remittance, i.e. independent of the other members of the group.

When one of the group internal member is selected as the driving balance to do the balance pairing, in the pairing screen, the system also automatically add the other group internal members of the same group into the pairing process. The user must take the decision if any of them shall be manually removed from the pairing process.

At the same time as the last Group Internal remittance becomes fully Settled (at the time when all Group Internal members of the group are Settled), then the system will also make the pairing of the group owner (Group Wire) and the Group Reversal remittance.

Payment Types #

This table describes the different payment types that the SICS allows you to use.

Create Remittance Classification Group from a Single Remittance #

When you have registered a single remittance, you have the possibility to transform it into a Remittance Classification Group. You can maintain the created Remittance Classification Group and later do balance pairing between the group members and the technical/claim balance.

1. Start from a single paid/received remittance of payment type Wire or Check that is not closed for update, i.e. in a pending status. The details of the Remittance Worksheet are already recorded.

2. Select Transform to Classification Group from pop-up menu. The system opens a new dialogue window with a table contains of columns: Rem Class 1, Rem Class 2, Rem Class 3, Amount. You can select the wanted value from the drop-down list of Rem Class 1, Rem Class 2, Rem Class 3 if needed. Then, enter the amount after the classifications are selected.

3. Save the changes and return to remittance worksheet screen, the system transforms the remittance into a Classification Group Remittance.

4. Maintain the Classification Group, i.e. by creating, removing or editing group members. For more information about how to maintain a remittance Classification group, refer to Maintain a Remittance Classification Group.

5. Save the Remittance Classification Group Worksheet by selecting Apply or OK.

   When the system transforms the Single Remittance into a Classification Group Remittance, the following takes place:

• The Payment Type Wire/Check is transformed to Group Wire or Group Check. This is the Group Owner.
• Group members: Group Reversal, Internal Group Members (The system lets you enter as many Group Internal members as necessary) are created.

Maintain a Remittance Group #

When a Remittance Group is created from a Single Remittance or automatically, SICS lets you maintain the group. You can, for example, create new members, remove members or change the status of the Remittance Group and its members.

Create New Remittance Group Members #

When you have created a Remittance Group, you can maintain it by creating additional members to the group. This may be necessary when you want to match the Remittance Group to a Settlement Balance.

1. Start from a Remittance Group that is not closed for update. The Group may or may not be linked to a Settlement Balance.
2. Select Create New Group Member from the pop-up menu. Select between the available group members.
3. Update the amount field of the new Group Member(s).
4. Save the changes to the Remittance Worksheet by selecting Apply or OK.

Available group members:

• Group External: A new Group member of type Group External is created with no Amount. A corresponding group member of type Group External Reversal is also created.
• Group Internal: A new Group member of type Group Internal is created with no Amount.
• Bank Charges: A new Group member of type Bank Charges is created with no Amount.
• Exchange Difference: A new Group member of type Exchange Difference is created with no Amount.

Edit a Remittance Group #

You are allowed to change some fields of the Remittance Group Worksheet. Which fields that are open for changes depend on the member of the group.

1. Start from a Remittance Group Worksheet that is not closed for update. The group may or may not be linked to a Settlement Balance.
2. Select a member of the group that needs to be edited.
3. Make your changes to the group member.
4. Select another member of the group that needs to be edited or save the changes to the Remittance Worksheet by selecting Apply or OK.

• The available fields for the Payment Types Group Wire and Group Check are the same as for the payment types Wire and Check. Some changes will be transferred to the members.
• Only some fields are open for changes. Payment type may only be changed from Group Internal to Group External or vice versa. The corresponding Group External Reversal will be created or deleted accordingly.
• Only the amount value may be entered/changed. The Group Reversal amount is updated accordingly.

Remove Remittance Group Members #

If you for instance have created a member of a Remittance Group by mistake or you find out that a member does not match the Settlement Balance, you can delete members from the Remittance Group.

1. Start from a Remittance Group Worksheet that is not closed for update. The group may or may not be linked to a Settlement Balance.
2. Select the member that you want to delete and select Delete from the pop-up menu. It is not allowed to delete the Group Owner or the Group Reversal member.
3. The Remittance Group Member is deleted.

• If the deleted member is a Group External, the corresponding Group External Reversal is also deleted.
• If the deleted member is either a Bank Charge- or an Exchange Difference member, the Group Reversal will be adjusted accordingly.

4. When you are happy with your Group Remittance, select Apply or OK to save your changes.

Remove All Members of the Remittance Group #

If you find that a Remittance Group Remittance should instead be a Single Remittance you are allowed to delete all members of the group. Also if a group is created manually and you find that it should be created automatically by linking it to a Settlement Balance, this function can be used.

1. Start from a Remittance Group Worksheet that is not closed for update. The group may or may not be linked to a Settlement Balance.
2. Select Delete All Group Members from the pop-up menu.
3. The Remittance Worksheet is transferred back to a Single Worksheet. All members are deleted and the Group Owner (Group Wire or Group Check) is transferred back to Wire or Check.

If the Remittance Group is linked to a Settlement Balance, the link is broken. 4. Save the single remittance by clicking Apply or OK, create a new Remittance Group manually or create a new Remittance Group automatically by linking it to a Settlement Balance.

Change the Status of the Remittance Group #

You can change the status for the entire Remittance Group or for single members of the group.

1. Start from a Remittance Group Worksheet that is not closed for update. The group may or may not be linked to a Settlement Balance.

• If you want to change the status for all members of the group, change the status of the Group Owner.
• If you want to change the status of single members of the group, select the appropriate Group Member.

2. When you are finished making changes to the Remittance Group, select Apply or OK to save your Worksheet.

Change of status:

• Group Owner: The new status is copied to all members of the group. If the requested status change is to Inactive, the relationship between the Group Owner and a Settlement Balance is broken.
• Group External: You are only allowed to change the status to Inactive. The Group External Reversal is inactivated as well and the members will no longer be part of the group.
• Group Internal: You are only allowed to change it to Inactive and the member will no longer be part of the group.
• Bank Charges/Exchange Difference: You are only allowed to change it to Inactive and the member will no longer be part of the group. The Group Reversal member will be recalculated.

Copy Owner’s Status to all members of a Remittance Group #

If the status of one or more group members is different from the Group Owner you can change the status of the members into the same status as the Group Owner.

1. Start from a Remittance Group Worksheet that is not closed for update. The group may or may not be linked to a Settlement Balance.
2. Select Copy Owner’s Status to all Members from the pop-up menu.

The Owner’s Status is copied to all members of the Remittance Group. 3. When you are finished making changes to the Remittance Group, click Apply or OK to save your Worksheet.

If the requested status change is to Inactive, the relationship between the Remittance Group and a Settlement Balance is broken.

Maintain Functional Currency for the Remittance Group #

If you want to inspect or change the Functional Currency Exchange Rates before the remittance status is set to Final, you select the Calculate Functional Currencies option. This option is available for the group owner (e.g. Group Wire or Group Check) in the Business Partner Remittance Worksheet window of an open Worksheet. It is not possible to change the functional currency rate or amount on any of the other members of the group.

The defaulted exchange rates can be overruled depending on system parameter settings. See Currency under Accounting chapter of Maintain System Parameters in the_System Administrator Guide_ for more details.

Follow the workflow in chapter Maintain Functional Currency for the Remittance balance to change the functional currency rate or amount on the Calculate Functional Currency window.

When the rates are saved the system will recalculate the functional amounts for all the group members. In case the sum of the members functional amounts do not match the group owner’s functional amount due to rounding, the system will ask the user if the system, or the user, should select which member to have the functional amount adjusted.

1. Select Save on the Calculate Functional Currency window to save the changes.
2. If the sum of the group members do not match the group owner’s functional amount the following confirm message appears

3. By selecting No the system will adjust the functional amount on one of the members, but by selecting Yes you will open the following window

4. By highlighting one of the balances and selecting OK the system will adjust the functional amount for this balance so that the sum of all members matches the group owner.

Maintain a Remittance Classification Group #

Create New Remittance Classification Group Members #

When you have created a Remittance Classification Group, you can maintain it by creating additional members of the group. This might be necessary when you want to do balance pairing.

1. Start from a Remittance Group that is not closed for update.
2. Select Create New Group Member from pop- up menu. The system opens the new dialogue window.
3. Select the classifications and enter amounts for the new Group Member(s).
4. Save the changes, and return to the Remittance Worksheet screen.

Available group members:

• Group Internal: A new Group member of type Group Internal is created with Amount and classifications. On the More Details tab on each remittance the selected classifications will be shown in the fields Rem Class 1, Rem Class 2 and Rem Class 3.

Edit a Remittance Classification Group #

You are allowed to change some fields of the Remittance Classification Group Worksheet. Which fields that are open for changes depend on the member of the group.

1. Start from a Remittance Classification Group Worksheet that is not closed for update.
2. Select a member of the group that needs to be edited.
3. Make your changes to the group member. You can change the amount. On the More Details tab, you can change the classifications.
4. Select another member of the group that needs to be edited or save the changes to the Remittance Worksheet by selecting Apply or OK.

Remove Remittance Classification Group Members #

If you for instance have created a member of a Remittance Classification Group by mistake or you find out that a member does not match the Settlement Balance, you can delete members from the Remittance Classification Group.

1. Start from a Remittance Group Worksheet that is not closed for update.
2. Highlight the member that you want to delete and select Delete from the pop-up menu. The Remittance Group Member is deleted. It is not allowed to delete the Group Owner or the Group Reversal member.
3. When you are happy with your Group Classification Remittance, select Apply or OK to save your changes.

Remove All Members of the Remittance Classification Group #

If you find that a Remittance Classification Group should instead be a Single Remittance you are allowed to delete all members of the group.

1. Start from a Remittance Classification Group Worksheet that is not closed for update.
2. Select Delete All Group Members from the pop-up menu. The Remittance Worksheet is transferred back to a Single Worksheet. All members are deleted and the Group Owner (Group Wire or Group Check) is transferred back to Wire or Check.
3. Save the single remittance by clicking Apply or OK.

Create Remittance Groups Automatically #

If you already have created a Settlement Balance Group on the Business Partner Ledger, the system offers you the possibility to link it to a Remittance Balance automatically.

Automatically Create a Remittance or a RemittanceGroup from a Settlement Balance Group #

You have a Settlement Balance Group which is not already linked to a Remittance Balance. When you want to both create the Remittance and link it to the Settlement Balance Group, you follow the procedure below or via Web services. The rules of manually creating Remittance Balance also apply for Web services.

1. Open a Business Partner Ledger. (Refer to chapter View Business Partner Ledger).
2. Search and find the appropriate Settlement Balance Group from the Business Partner Ledger.
3. Open the Settlement Balance Group properties.
4. Select Create Remittance from the menu. If the Group Remittance is not in use in your system, this option is disabled if the Settlement Balance Group contains balances with different Base Companies or different Reporting Units and this is not allowed according to system parameter settings and base company properties, refer to system administrator. If the Group Remittance is in use the option is always enabled.
5. A remittance is created of type Wire or Group Wire, the latter is the situation if the Settlement Balance Group contains balances from different Base Companies and the Group Remittance is in use. In case of Group Wire two or more remittance group members are also created.
6. Maintain the Remittance Worksheet(s) and select Apply/OK to save the worksheet(s) when you are finished. For more information Remittance Groups, refer to Create a Remittance Group from a Single Remittance on page 11-403 Remittance and Maintain a Remittance Group on page 11-404.

The Settlement Balance and the Remittance Balance(s) is linked to each other, both in case of a Wire- and Group Wire Remittance.

Automatically Create a Remittance from an Account Balance Group #

You have an Account Balance Group which is not already linked to a Remittance Balance. When you want to both create the Remittance and link it to the Account Balance Group, you follow the procedure below.

1. Open a Business Partner Ledger. (Refer to chapter View Business Partner Ledger).
2. Search and find the appropriate Account Balance Group from the
3. Open the Account Balance Group properties.
4. Select Create Remittance from the menu. This option is disabled if the Account Balance Group contains balances with different Base Companies or different Reporting Units and this is not allowed according to system parameter settings and base company properties, refer to system administrator.
5. A remittance is created of type Wire.
6. Maintain the Remittance Worksheet(s) and select Apply/OK to save the worksheet(s) when you are finished.

The Account Balance and the Remittance Balance is linked to each other.

Automatically Create a Remittance Group from a Settlement Balance Group #

When you have a Settlement Balance Group that you want to link to an either Paid or Received Remittance Balance, you follow the procedure below.

The Remittance Balance has to meet the following criteria:

• Not already linked to a Settlement Balance Group
• Not part of a Remittance Group
• Have the status In Progress
• The Arithmetic sign must be opposite from the Settlement Balance Group.
• Have the same Currency as the Settlement Balance Group.

1. Open a Business Partner Ledger. (Refer to chapter View Business Partner Ledger
2. Search for and find the appropriate Settlement Balance Group.
3. Open the Settlement Balance Group properties.
4. Select Link to Remittance from the menu. This option is enabled only if the Group Remittance is in use in your system, refer to system administrator.
5. Find the matching Remittance and select Link to Settlement Balance from the pop-up menu.

The remittance is linked to the Settlement Balance. The remittance is either transformed to a Wire Group/Check Group, if the Settlement Balance Group contains of balances from different base companies, or remains a single Wire/Check. 6. Maintain the Remittance Worksheet(s) and select Apply/OK to save the worksheet(s) when you are finished. For more information Remittance Groups, refer to Create a Remittance Group from a Single Remittance on page 11-403 Remittance and Maintain a Remittance Group on page 11-404.

Automatically Create a Remittance Group from a Single Remittance #

When you have a Remittance Balance that is not already transformed to a group and you want to link it to a Settlement Balance Group, you follow the procedure below.

The Remittance has to meet these criteria:

• Not already linked to a Settlement Balance Group
• Not part of a Remittance Group
• Have the Status In Progress

The Settlement Balance has to meet these criteria:

• Not already linked to a Remittance Balance
• The Arithmetic sign is opposite from the Remittance Balance
• The Currency matches the Remittance Balance

1. Search and find a Remittance Balance. For more information about Remittance Balance, refer to Access an existing Remittance Worksheet on page 11-358.
2. Open the Remittance Worksheet properties.
3. Select Link to Settlement Balance from the pop-up menu.

The system opens the Business Partner Ledger allowing you to search for Settlement Balances. 4. Search and find a Settlement Balance. 5. Select the Settlement Balance and select Link selected to Remittance and transform Remittance to Remittance Group from the pop-up menu.

The remittance is linked to the Settlement Balance. The remittance is either transformed to a Wire/Check Group or remains a single Wire/Check. If a Remittance Group is created, group members are also created. 6. Maintain the Remittance Worksheet(s) and select Apply/OK to save the worksheet(s) when you are finished. For more information Remittance Groups, refer to Create a Remittance Group from a Single Remittance on page 11-403 Remittance and Maintain a Remittance Group on page 11-404.

Link a Remittance Group to a Settlement Balance Group #

When you have an individual Remittance Balance or a Remittance Group and you want to link it to a Settlement Balance Group, you follow the procedure below. This function is only possible if the Group Remittance is in use, refer to your system administrator.

The Remittance Balance has to meet the following criteria:

• Is a Group Owner
• Not linked to a Settlement Balance Group
• Unsettled

The Settlement Balance Group has to meet the following criteria:

• Not already linked to a Remittance Balance
• The Arithmetic sign is opposite from the Remittance Balance
• The Currency matches the Remittance Balance

1. Search and find a Remittance Balance. For more information about Remittance Balance, refer to Access an existing Remittance Worksheet on page 11-358.
2. Open the Remittance Worksheet properties.
3. Select Link to Settlement Balance from the pop-up menu.

The system opens the Business Partner Ledger allowing you to search for Settlement Balances. 4. Search for and find a Settlement Balance. 5. Select the Settlement Balance and select Link selected to Remittance from the pop-up menu.

The remittance is linked to the Settlement Balance. 6. Maintain the Remittance Worksheet(s) and select Apply/OK to save the worksheet(s) when you are finished. For more information Remittance Groups, refer to Create a Remittance Group from a Single Remittance on page 11-403and Maintain a Remittance Group on page 11-404.

Remove Link to Settlement Balance Group from a Remittance Group #

When you find that a Remittance Group has been linked to a Settlement Balance Group by mistake, you can remove the link by following the procedure below.

1. Search and find the Remittance Group that is linked to a Settlement Balance by mistake. For more information about Remittance Balance, refer to Access an existing Remittance Worksheet on page 11-358.
2. Select Remittance Properties or Open Remittance Worksheet from the pop-up menu.

If Remittance Properties is selected_, select Edit_ from the pop-up menu of the Remittance Worksheet. 3. Select Remove Link to Settlement Balance from pop-up menu.

The link to Settlement Balance is broken but the Remittance Group remains unchanged. Link the Remittance Group to another Settlement Balance or maintain the Worksheet. For more information Remittance Groups, refer to Create a Remittance Group from a Single Remittance on page 11-403 Remittance and Maintain a Remittance Group on page 11-404. 4. Click OK/Apply to save the worksheet.

View Settlement Balance Group from a Remittance Group #

When you want to inspect the details of the Settlement Balance Group that is linked to the Remittance Group, you are allowed to navigate directly from the Remittance Group to the linked Settlement Balance Group.

1. Search and find the Remittance Group that is linked to a Settlement Balance. For more information about Remittance Balance, refer to Access an existing Remittance Worksheet on page 11-358..
2. Select Remittance Properties or Open Remittance Worksheet from the pop-up menu.

If Remittance Properties is selected, select Edit from the pop-up menu of the Remittance Worksheet. 3. Select View Settlement Balance from the pop-up menu.

SICS opens the View Settlement Balance Group window.

View Remittance from Settlement a Balance Group #

When you want to inspect the details of the Remittance Group or Single Remittance that is linked to a Settlement Balance Group, you are allowed to navigate directly from the Settlement Balance Group to the linked Remittance.

1. Open a Business Partner Ledger. (Refer to chapter View Business Partner Ledger
2. Search and find the appropriate Settlement Balance Group.
3. Open the Settlement Balance Group properties.
4. Select View Remittance from the menu.

SICS opens the Remittance Properties window.