Set-off

To display the Set-offs menu you need to open a new document type in the document types register.

The following may be performed from the menu for posting set-offs:

• receivables and payables set-off for the same subject
• multilateral set-off, customer and supplier cannot be the same subject
•  receivables and payables blank set-off for the same subject with the information which receivables and payables shall be closed with set-off information not yet known
• blank set-off when the selected supplier and customer cannot be one and the same subject and the information of which receivables and payables shall be closed with the set-off is not yet known

Related topics:

• Set-off Document
• Set-off Taskbar
• Wizard
• Reports
• Set-off Header
• Accounts Balance for Set-off Linking
• Outstanding Receivables and Payables
• Set-off Messages

Users who account for VAT after the payment of turnover simultaneously post and confirm the set-off.

With the selected VAT account method after the payment of turnover, the set-off may be simultaneously posted and confirmed because every post shall be posted to the same journal entry which have the edited date criteria.

If you want that all of the outstanding items of the unapproved set-off proposition will not be displayed anymore among the outstanding receivables and payables items of the subject acounts, then you should post the unapproved proposition of the set-off. Any changes of the set-off shall also be posted.

Set-off proposition and all of the possible changes related to it are posted to the same journal entry. That is why it is important to verify the posting date and the period date of the journal entry.

You may select the customer and supplier whose receivables and payables are to be set-off.

After clicking the Select button the program displays the list of outstanding receivables and payables in the bottom part of the panel. 

The data on outstanding receivables/payables are taken from the journal entry items to be posted!

The outstanding receivables window can be launched by using the shortcut key. And the outstanding payables window by using the shortcut key.

Documents may be marked for closing by pressing spacebar or by double-clicking the mouse button. They are then shifted to the upper section of the panel.

The shortcut to the receivables for linking (set-off) window may be accessed by using the shortcut key. And the payables for linking window by using the shortcut key.

For a detailed description of the data see Set-off Document.

If the receivables and payables amount to be set-off is not equivalent, the value of the last document which is marked for closing is automatically lowered so that both amounts are equal. 

The selected items of the outstanding receivables or payables may be sorted according to any given criteria (document, amount, ...) by double-clicking the grey field with the description of the column.

Select	After the information about the customer, supplier and accounts are entered, the outstanding claims and liabilities list can be looked up by clicking this button.
Balance	When the receivables or payables amount to be set-off is not equivalent, then the amount of the receivable or payable set-off is made equal according to the smaller of the selected amounts by clicking this button. The same operation can also be performed by clicking the Report button that apart from this enables also the creation of a report of the set-off proposition - the amounts of the receivable or payable set-off have to be included in the report. By clicking this button the data about the outstanding receivables and payables are not refreshed: after the set-off report is made and posted you may click the Select button to look up the outstanding items again..
Close/post	By clicking this button you launch the journal entry creation. With it you may start transferring of post from receivables or payables accounts to the accounts for set-off in progress.
	By clicking the report icon in the taskbar you may display the set-off proposition.

See Taskbar for a general description of its functions.

By right-mouse clicking each individual item you can call up additional functions in the set-off preparation panel.

When the party returns a confirmed set-off proposition, you can confirm it by clicking the button. At the same time the status of the set-off is changed to Confirmed and posts 1209/2209 are appended to the journal entry to which you have already posted the set-off. Data containing the set-off date is filled to the journal entry.

The set-off of the Posted status may be rejected by clicking the button. At the same time the set-off status changes to Rejected and reversals of the posts are appended to the existing journal entry.

Reverse - set-off obtains this status after clicking the button. In case when there is not any and shall not be any occurrence of set-off turnover and because of the transparency of subject account at the same time you do not want to post it nor make a reversal, you might want to click the Reverse button. The sole function of the reversal button is to change the status of the set-off so it can be used later in the set-off history list. The Reverse button appears already when creating the set-off proposition together with the  buttons. It does not appear together with the Confirm and Reject  buttons since in this step of the process postings appear and only the Reject button can be used.