Dealing with Israel? Understand How the Cashier System Works
- by Karthik Tharkabhushanam, SAP Consultant, Infosys Technologies
- Ranjani Pasupathy, SAP Consultant, Infosys Technologies
- April 16, 2013
Leverage the country-specific functionality of your SAP system for efficient accounting and compliance with local laws and regulations.
It is not a common practice in most countries to receive post-dated (deferred) checks from customers. In Israel, however, this is a common business practice. The Israeli (IL) Country Version of SAP ERP provides a specific functionality (Cashier System) that helps support this business requirement.
It is a common business practice in Israel for companies to receive post-dated checks (deferred) from customers. These checks are first in the custody of the company and then in the company’s bank before they are realized (on the due date) and applied against open customer items. This form of payment is prevalent in Israel, Turkey, and a few other countries in that part of the world. The Cashier System allows processing of various types of incoming payments (cash, checks, post dated checks, credit cards, or bank transfers) in different currencies for customers, vendors, and G\L accounts. It also provides a mechanism for depositing regular and deferred checks, credit card receipts, printing receipts, and cashier logs in accordance with the local laws.
We explain a specific scenario of how post-dated (deferred) checks are recorded, processed, and applied to open receivables using the country-specific Israeli (IL) Cashier System. We also discuss predelivered forms and reports that are offered within this functionality.
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