Receivables/Payables Concepts

payment_app_intro JustOn Cash Management is a Salesforce app that integrates Salesforce CRM with European banks and payment service providers. The app allows you to trigger payments and track payment information related to your business with customers.

You will be able to prepare and execute payment operations based on your orders, invoices or other statements that involve payments or payouts, as well as to retrieve information on processed payments and to associate it with the corresponding accounts receivable or accounts payable. Broadly speaking, JustOn Cash Management helps reconcile accounts.

Understanding Receivables and Payables

Businesses sell and purchase products and services. These operations involve payments or payouts – documented in orders, invoices, credit notes or other statements. From an accounting perspective, they represent your accounts receivable (AR) and accounts payable (AP).

pay_app_entries

Receivables and Payables in JustOn Cash Management

JustOn Cash Management summarizes receivables and payables as entries – think of an "open entry" in your accounting system. Basically, the business operations are centered around these records – you manage entries, trigger payments based on entries, settle entries, etc.

Entries

JustOn Cash Management is centered around entries. They represent an amount of money owed to or requested by a business partner and hold all relevant information, based on statements that justify the corresponding request.

Descriptive Information

To allow for a unique identification of the relevant receivable or payable when communicating with customers, entries "wrap" relevant statement information in specific fields that are exposed to customers:

Field	Description
Title	A descriptive name, including the statement type and number. Is used, for example, to identify the entry on the payment page.
Payment Reference	A both human-readable and effectively parsable identification of the related statement. Is used, for example, as the `Reference` information in SEPA payment orders, describing the purpose of the transaction.

Amount Values and Statuses

Upon creation, entries have an open amount, which represents the original amount payable or receivable. With an open amount, entries are in the status Open.

Registering payments reduces the open amount. Entries become Balanced once they are completely settled, that is, when the settled amount balances out the open amount, like

Open Amount = Settled Amount * (-1)

With this respect, the following amount values are important:

pay_app_entry_amounts

Amount Type	Description
Open Amount	Shows the original amount receivable or payable, corresponds to the `Open Amount` of the payment. Positive values represent receivables and produce debit payments, negative values represent payables and produce credit transfers.
Settled Amount	Shows the amount already assigned to settle the entry. A negative value represents received money, that is, a customer payment made to settle an invoice, for example. A positive value represents paid money, for example, a payment made by a merchant to settle a credit to a customer. Technically, this is a roll-up summary over the `Amount` values of all associated entry items.
Expected Amount	Shows the currently expected amount of all pending (requested but not collected) payments (see Payment Lifecycle). Technically, this is a roll-up summary over the `Expected Amount` values of all associated entry items.
Outstanding Amount	Shows the currently outstanding amount, that is, the difference between the `Open Amount` and the `Settled Amount`. With entries in the status `Balanced`, this value must be `0`.
Payable Amount	Shows the amount still to pay, that is, the difference between the `Outstanding Amount` and the `Expected Amount`.

Entry and Payment Lifecycle gives an outline view of how these values change as payment and settlement progress.

Entry Origin

The way you create or retrieve entries depends on the integration of JustOn Cash Management with your Salesforce org. A proven way is, for example, the integration with JustOn Billing & Invoice Management.

Integration with JustOn Billing & Invoice Management: Concepts

The payment functionality shipped with JustOn Cash Management is centered around entries (see Receivables/Payables Concepts). These records hold all information with respect to an amount of money owed to or requested by a business partner, based on statements that justify the corresponding request.

In JustOn Billing & Invoice Management, the produced invoices or – if set up and used – installments represent payment requests. Now integrating JustOn Billing & Invoice Management with JustOn Cash Management provides for both

the creation of the relevant entry records upon invoice finalization or installment creation/modification, and
the creation of the relevant balance records for a registered money flow (where the field Origin is set to JPAY1).

jpay_jo_integration
Creating entries on invoice finalization or installment creation, creating balances for payments

Statements

A statement is a stand-in for a legally binding document or declaration that produces a payment request – represented as an entry. Statements can be, for example, invoices, installments, orders, credit notes, etc.