RE: [ubl-dev] Modeling multiple possible invoice totals based on payment means

["Andrew Chilcott" <stpsolutions@lineone.net>]

Ken

I have had a quick look at the Remittance Advice and cannot see where the
payment difference, albeit an allowance or a charge, would be placed
(possibly as a separate debit or credit line item). I think that this
presumes that any payment difference would need to be described in a debit
or credit note which would then be referenced in the remittance line item.
This is absolutely correct in accounting terms so that there is always the
exact amount(s) to match off to in accounts receivable. In practice, I
believe that this is the messiest part of accounting as the payer does not
always (if ever) send a corresponding debit/credit note to cover any
difference in the payment amount.

In PISCES where I was project manager on the Lenders Conveyancing workgroup
we developed a CCTS remittance advice that had the concept of an Allowance
or Charge that could be notified in the Remittance Advice (see
www.pisces.co.uk then navigate to Workgroups/Current Workgroups/Lenders
Conveyancing/RedemptionRemittanceAdvice). Although the work done at Pisces
was originally based on UBL it handles use cases that were way outside the
remit of UBL and has therefore taken a slightly different path. In our case,
no invoices pass between a lender and borrower so we had to come up with
method that alerted the conveyancer/lender to items added to or deducted
from the principal loan redemption amount.

Andrew

-----Original Message-----
From: G. Ken Holman [mailto:gkholman@CraneSoftwrights.com] 
Sent: 07 January 2007 20:10
To: 'UBL-Dev'
Subject: RE: [ubl-dev] Modeling multiple possible invoice totals based on
payment means

Thank you, Andrew, for your response.

At 2007-01-07 20:03 +0000, Andrew Chilcott wrote:
>The adjustment to the payment amount should be dealt with in a 
>Remittance Advice which should also be able to handle the different
currency options.

Yes, I can see that the payer can use the Remittance Advice to indicate
which of the payment terms they choose to accept.

>The recipient of the monies can therefore book the invoice amount in 
>the invoiced currency against what is outstanding on accounts 
>receivable and the difference between invoice value and payment amount 
>gets posted to a revenue/cost item.

Right ... which is constantly a mess for us since we don't have any Canadian
customers.  We are already doing this in our books, and over the 10 years it
has wavered back and forth from being beneficial to deleterious.

But from the perspective of the payee informing the payer of the options
from which the payer can choose, would you disagree with my choice of
enumerating the different payment terms and acceptable amounts in the
invoice as I suggested?

>From: G. Ken Holman [mailto:gkholman@CraneSoftwrights.com]
>Sent: 06 January 2007 21:53
>To: UBL-Dev
>Subject: RE: [ubl-dev] Modeling multiple possible invoice totals based 
>on payment means ...
>Looking again after learning from your note, I just found 
>"PaymentTerms" in which is found associated amounts, etc.
>
>So, perhaps then the invoice has the one total CAD$1000 and three 
>different payment terms:  the cheque (no charge), the EFT (charge), and 
>the Internet (charge + currency).

Thanks again, Andrew!

. . . . . . . . . Ken



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