Payables and Receivables

Path: Business functionality > Local functionality > Czech Republic > Payables and Receivables · tier official · system sales · narrative reviewed (checked by Opus)

Overview

This section collects the Czech-specific features that affect customers, vendors and the documents sent to them. Some cover accounting processes: compensation of receivables against payables, customer and vendor reconciliation statements, and exchange rates adjustment. Others cover documents and master data: sales correcting documents, the new design of output documents, hiding zero-quantity lines, and updating contacts from ARES.

The pages are independent of each other, and there are no subtopics. Pick the page that matches the task. For offsetting balances when a customer is also a vendor, start with the compensation page. For year-end or periodic balance statements, use the reconciliations page. For document layout and VAT compliance, see the output documents, sales correcting documents and zero-quantity pages.

Key points

• Compensation offsets receivables and payables when a customer is also a vendor. Lines can be entered manually or proposed with Suggest lines, then released and posted.
• Compensation can print an Agreement on Mutual Settlement of Receivables and Payables, and it uses Compensation Nos. for numbering.
• Customers/vendors reconciliation prepares and sends balance statements for fiscal year-end or periodic reconciliation.
• Exchange rates adjustment runs separately for customers, vendors and bank accounts, with a test mode, summarized entries per currency, dimension transfer methods and Advance Payments integration.
• Sales credit memos can be typed as Corrective Tax Document, Internal Correction or Insolvency Tax Document to follow VAT law amendments.
• The new output document design standardizes printed reports and adds registration numbers, VAT specification, advance payment deductions and tax corrective document naming.
• Update contacts from ARES retrieves company information through an ARES Http service and updates contact, vendor and customer records.
• A Hide lines with zero quantity toggle controls zero-quantity lines on sales and purchase invoices and credit memos.

Learn pages

• Compensation localization for the Czech version: Enables offsetting receivables and payables in Business Central for Czech companies, supporting mutual settlements between customers and vendors.
• Czech Local Functionality - Customers/Vendors Reconciliations: Learn about the Customers/Vendors Reconciliations local functionality available in the Czech version of Business Central.
• Czech local functionality - Exchange rates adjustment feature: Companies in the Czech Republic request some improvements in the Exchange Rates Adjustment feature in the Czech version of Business Central.
• Czech Local Functionality - New design of output documents: Learn about the new standardized design of output documents in the Czech version, including enhancements to meet Czech legislative requirements.
• Czech local functionality - Sales correcting documents [CZ]: Learn about local functionality for handling sales correcting documents, including different types of sales credit memos, in the Czech version of Business Central.
• Czech local functionality - Update contacts from ARES: Learn how to update contact information in Business Central using ARES, the Czech system for retrieving data on registered economic entities.
• Hide rows with zero quantity in document reports in the Chech version: This article describes how to make document reports clearer by hiding lines with zero quantity in the Czech localization.

Source: Microsoft Learn (CC BY 4.0). Descriptions are Learn’s own.