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Repayment
Transaction RRTSET
This transaction is used to settle one or more Receivable Finance contracts for the same buyer.
The buyer sends funds to the bank to pay the invoices that are due. These invoices can belong to more than one Receivable Finance contract or sometimes even to more than one supplier. It is also possible that the bank receives only the funds from the buyer but not all invoice details, and then the bank may decide to choose manually which invoices can be paid. The invoices can be paid partially or for full amount.
Once the invoices are paid, if there is a remaining amount it can be added as “Payment on Account” document and credited to the Buyer's special account. More details on this can be found under Introduction.
The Buyer can also deny to pay any document, in such cases that document can be marked to “In Dispute” from this transaction and can only be paid when the buyer and supplier agree on the terms after which the document must be set to “Dispute Resolved”. More details on the status handling can be found under General Information.
The buyer (invoiced/financed party) is debited with the “Amount Paid” and the finance account of the invoiced party is credited. Also, if the finance was not for the whole amount of the invoice, the remaining amount from the paid document will also be credited back to the Supplier at this stage. Liabilities of each contract will be handled on the Liability panel. If documents from more than one contract are paid, then all liabilities will be loaded into the grid and will be handled accordingly.
The contract cannot be closed if it is partially paid. Only when all the invoices of the contract are fully paid, the contract can be closed from transaction Closing.
Based on the payment amount, the invoice/document status will be updated accordingly on the “Finance Base Document” panel. If it is fully paid, the invoice/document status will be updated to “Closed”. However, if it is partially paid, the invoice/document status will be updated as “Partially paid”.
Due to this nature, this process is manual in the application. It is possible to automate this process through an incoming message if all relevant details such as Supplier, document number, amount etc., are provided by the Buyer.
Requirements
This transaction creates a new Receivable Repayment contract.
If an existing Receivable Repayment contract is used, it may not be opened or closed.
An existing Receivable Repayment contract which is open and not closed.
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
Transaction Control
Fees
Commissions
Results of this Transaction
Diaries
For more information see TRNDIA Diaries.
None
Updating/Storing of Amounts (CBS)
Liability (LIA)
The current liability for each Receivable Finance contract is reduced by the amount paid.
Outgoing Correspondence
Details on creation of messages can be found under DOCEOT Messages. For outgoing allNETT / RIVO messages see Overview of Outgoing messages - allNETT / RIVO.
| Name of Message | Receiver | Message ID | Type | Comment |
|---|---|---|---|---|
| Repayment Advice | Buyer | RFTBUY1 | E-mail / Letter | The message can be sent as letter or email only. |
Release
Transaction Panels
Overview
Finance Base Documents
Liability
Settlement Details
Settlement
Bookings
Cash Cover
Completion
Incoming Tag 72/79
Messages
Compliance
Attachments
DTAEA Fields
DTALC Fields
DTAG Fields
Fee Conditions
Overview
Datafields
| Datafield | Description |
|---|---|
| Our Reference | cf Appendix A, Table RRD field OWNREF |
| External Key | cf Appendix A, Table USR field EXTKEY |
| Opening Date | cf Appendix A, Table RRD field OPNDAT |
| Currency | cf Appendix A, Table CBB field CUR |
| Amount Paid | This is the amount that is paid by the Buyer to pay back the invoices. cf Appendix A, Table CBB field AMT |
| Max Finance | cf Appendix A, Table PSB field BILMAXPRC |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
Finance Base Documents
Datafields
| Datafield | Description |
|---|---|
| Name | cf Appendix A, Table PTS field NAM |
| Currency | cf Appendix A, Table CBB field CUR |
| Total Amount Repaid | This is the amount that is paid by the Buyer to pay back the invoices. cf Appendix A, Table CBB field AMT |
| Name | cf Appendix A, Table PTS field NAM |
| Remaining Amount | This is the amount remaining after paying the invoices from the money sent by the buyer. It can be added as Payment on Account document with the buyer, which will then be credited to the buyer's Payment on Credit account and can be used to repay any invoice for the buyer at a later time. The remaining amount must be 0 for this transaction to be saved. |
| Dispute Date | This is the date which is set, when the document is marked to Status “In Dispute”. A document is set to “In Dispute”, if the buyer does not agree to pay a particular document. |
| Dispute Reason | When the buyer does not agree to pay any document, it is necessary to update a reason for the disagreement while setting the status to “In Dispute”. |
| Add Payment on Account | “Payment on Account” (PoA) is a type of FBD document that is added to the pool, when there is any remaning amount left after paying all invoices from the money sent by the buyer. This is only possible from the Repayment transaction. |
| Add Select | On clicking this button, a search window opens where a list of all available Finance base documents from the pool are listed. The user can select the relevant documents from here and add them to the grid and do further processing. |
Compliance
DTAG Fields
