Bank Guarantee Management

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Version: V12
Environment: Enterprise

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          Story behind the features

          odoo behavior

          Customer invoices/Vendor bills payment means are Cash or Bank transfer but not financial products.

          cluedoo BEHAVIOR

          When you use financial tools like factoring, bank guarantee, letter of credit,..., once you receive the proof of document, you reconcile the related invoices and record them as paid by the financial products. Then, you focus now on the financial product recovery.


          Customer invoices/Vendor bills payment means are Cash or Bank transfer but not financial products.

          business case

           You receive a bank guarantee of 100K $ to pay all your invoice for Customer X. So, all the invoices of Customer X are paid - nothing is no more due - and you have a bank guarantee to be recovered.

          cluedoo recommendation

          Installation : companies using financial products.

          Recommendation/ Best practice : It's important to record the payment by financial products because the Account receivable/Account payable both include the cash delay (ie due date management) and the risk of non-payment when the financial products only includes the cash flow delay (ex: the due date) but no more the risk on unrecovery.

          why we need this module

        • There are many case of company that payment using bank provision not only using Cash or Bank Transfer                 
        • To record all bank provision
        • Follow up the due date of bank provision
        • To a payment in proper way
        • How to use this module ?

          Step 1: 

          On Accounting > Journals > on a journal, advanced settings tab, we have payment method types option Bank Provision 


          Step 2: 

          Click on an open invoice, and register payment. On Payment wizard, we can select payment method type as Bank Provision and fill the info related to the bank provision payment, then validate.  
          The invoice status will be paid and payments will be posted


          Step 3: 

          On Accounting, we have Bank Provision menu. In this menu we can see the list of uncashed payment and we can cash it when it’s the due date. 

          Step 4: 

          After bank provision is cashed, we have posted journal entries for that 

          Flow of journal entries

          Customer Invoice

          Customer Payment

          Invoice No. 123Bank Provision
          Invoice No. 123
          Account Receivable
          Provision become Liquid

          LC No. A123Bank
          LC No. A123
          Bank Provision

          Vendor Bills

          Supplier Payment

          Vendor Bills No. 321Account Payable
          Vendor Bills No. 321
          Bank Provision
          Provision become Liquid

          LC No. S321Bank Provision
          LC No. S321