Business NXT documentation

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Accounting
The accounting functionality enables real-time visibility into financial health, enhances accuracy in financial reporting, and facilitates regulatory compliance. Relevant transactions for book keeping, such as payments, expenses and vouchers are automatically received from the services in the Visma.net platform.
Payment transfer
Payment line processings
The following processings are available from the Payment line table:

Accounting
The accounting functionality enables real-time visibility into financial health, enhances accuracy in financial reporting, and facilitates regulatory compliance. Relevant transactions for book keeping, such as payments, expenses and vouchers are automatically received from the services in the Visma.net platform.
- Base data
  The tables in this section include base data for accounting.
- Budgeting
  You can create a single budget to be used during many years ahead, but you can also enter an unlimited number of budgets.
- Vouchers
  A voucher is an accounting document that serves as a record of a business transaction and verifies certain activities or expenses.
- Incoming documents and invoices
  Incoming documents and vouchers usually arrive from other systems. They can be, for example, new supplier invoices, expense claims or payroll vouchers.
- Customer ledger
  The customer ledger is a financial record that contains detailed information about transactions between a business and its customers.
- Supplier ledger
  The supplier ledger contains detailed information about purchases, payments made, outstanding balances, and any credits or adjustments related to the supplier.
- Payment transfer
  - Bank
    This table may contain one row with SWIFT information for each issue bank that foreign suppliers use.
  - EFT information
    This table contains configuration information for external EFT- and reconciliation systems.
  - EFT information processings
    The following processings are available from the EFT information table:
  - Bank partner
    This table contains one row for each bank partner that is used for electronic funds transfer.
  - Bank partner processings
    The following processings are available from the Bank partner table:
  - Bank partner reports
  - Payment
    Each time the Create payment suggestion processing in the Open supplier entry table is run, a row is added to this table.
  - Payment processings
    The following processings are available from the Payment table:
  - Payment line
    This table contains one row for each line on a payment suggestion.
  - Payment line processings
    The following processings are available from the Payment line table:
  - Notification code
    This table may contain one row for each notification code, per bank partner.
  - Text code
    This table may contain one row for each text code, per bank partner.
  - Declaration code
    This table may contain one row for each declaration code, per bank partner.
  - Payment agreement
    This table contains information about payment agreements.
  - Bank fees/charges for outgoing payments
    EFT bank fee codes are used to support correct processing of bank fees according to ISO 20022 for outgoing payments.
- General ledger
  The general ledger is the central accounting record of a company.
- Bank reconciliation
  The purpose of bank reconciliation is to match accounting transactions with account statement transactions from the bank.
- Capital assets
  Capital assets are any kind of property for long-term use that belongs to a company.
- Electronic VAT reporting using Business NXT - Norway
  You can use Business NXT for electronic VAT reporting, either manually or automatically using the Visma.net AutoReport integration.
- Electronic VAT reporting - Denmark (new VAT structure)
  You can use Business NXT for electronic VAT reporting automatically using the connected service Visma.net AutoReport.
- Export of SIE files
  SIE files are used to exchange bookkeeping information between different systems, including the basis for financial statements.
- Import of SIE files
  SIE files are used to exchange bookkeeping information between different systems, including the basis for financial statements.

Payment line processings

The following processings are available from the Payment line table:

Create account batch

This processing is used to create account batches, when you are ready to post to the accounts.

Including the Batch table joined with the Voucher table enables you to view all the updates that take place in these tables when creating an accounting batch.

Note:

If Generate batch/vouchers for settlement has been enabled in the Payment processing field in the Company information table, the Create account batch processing will be disabled.

Prerequisites

The lines to be included in the batch has to have one of the following statuses:

2 - Transferred
3 - Receipt
5 - Settled

If you have payment lines with payment line status 9 - Missing payment lines, you need to check that the payment lines haven't already been updated. If you want to post payment lines with status 9 - Missing payment lines, you have to change the payment line status to 5 - Settled before creating the account batch.

Starting the processing

Select the Payment line rows you want to process.
In the Processing menu, select Create account batch
In the dialog, select from Bank partner > Automatically update batch for outgoing payments from Visma.net AutoPay.

The batch is allocated the next free batch number. If Direct update hasn't been enabled, the generated batch/vouchers lines can be maintained before updating.

The value date is set for each line, since return data can belong to different periods in the same batch. The payment lines get the status 6 - Posted when the processing has been finished.

If you run this processing for payments to several accounts, the general ledger account for banks is selected in the following sequence:

Bank partners - if you have more than one bank partner and you're generating a batch for payment, the payment is divided among general ledger accounts for banks in accordance with bank partners.
Currency - this requires a currency number to be entered for the payment transaction.
Default currency - this field is in the Company information table.
Posting errors account - this field is in the Company information table.