Knowledge Center

Settlement

The settlement process mainly handle clearing (counter accounting) and disbursement towards suppliers after auctions.

This process may result in

  1. Supplier balances is handled based on the open transactions.

  2. Auction house pay the supplier when sales are bigger than purchases.

  3. Auction house send an invoice to the supplier if purchase are bigger than sales.

In this process the application Auction Balances (AUCBAL) is the tool that gives the auction house all the relevant information needed to perform the settlement in a good way. This application lists unique combinations of auctions and due dates on supplier invoices. It also shows info about possible prepayments and payments done. Entering a line in AUCBAL gives details for each supplier, this application is AUCBAL1. When every change and counter accounting is done, one can perform the payment for every supplier from the AUCBAL application. For special handling on a specific supplier this can be done from AUCBAL1. Final Salesreport works the same way. Use AUCBAL to send it to every supplier or use AUCBAL1 to send it to specific suppliers. Finale Salesreport can also be triggered from the Auction Event (EVT) application or the Supplier (SUP) application.

Tasks involved in this process

  1. Settlement

  2. Reporting