Payment suggestion lists

What is meant by Payment suggestion lists?

Payment proposal lists are documents or reports automatically or manually generated by financial software to suggest payments to suppliers or other creditors. They are based on outstanding invoices and open items, helping to optimize and automate the payment process. These lists typically consider due dates, payment terms, and priorities.

Typical software functions in the area of "Payment Proposal Lists":

1. Proposal List Generation: Automatic creation of payment proposals based on outstanding invoices, payment terms, and priorities.
2. Prioritization: Ability to prioritize payments by due date, urgency, or payment terms.
3. Adjustment and Editing: Function to manually adjust and edit proposals to account for specific payment preferences or conditions.
4. Integration with Accounting Systems: Linking of proposal lists with accounting systems to ensure consistency of payment information.
5. Approval Workflows: Implementation of approval processes to ensure payments are made only after appropriate authorization.
6. Reporting: Creation of reports on planned payments, including details of the proposal list and invoice status.
7. Automated Payment Processing: Capability to automate payment execution directly from the proposal list, including integration with payment services.
8. Archiving and Documentation: Ensuring the archiving and documentation of all proposals and executed payments for future reviews and audits.

Examples of "Payment Proposal Lists":

1. Monthly Proposal List: A list of payments due at the end of the month, prepared for automatic execution.
2. Prioritized Proposal List: A list that prioritizes payments by urgency to ensure timely settlement of important invoices.
3. Installment Payment Plan: Proposal list for payments in installments, e.g., for larger invoices to be paid in several installments.
4. Discounted Invoices: Proposal list considering invoices where discounts or rebates for early payments can be applied.
5. Open Items Reconciliation: Proposal list reconciling open items and creating payment proposals based on outstanding invoices.