MAX ITC: The Complete Guide to Maximizing Input Tax Credit
In this guide, you'll learn how to review payment blocks and release recommendations at the voucher level using the Max ITC Product Guide. By following these steps, you'll be able to analyze payment recommendations, inspect audit trails, and manage payment actions effectively.
Click on the Max ITC card to access the payment recommendations dashboard.
Select the Manage your vouchers option from the menu.Select a specific voucher to review its details. This step allows you to understand the associated recommendations, including the reasoning behind them and any relevant data tied to the voucher.
This opens a list of all payment recommendations with detailed voucher-level information. Locate and select a specific voucher to dive deeper into its details.
Click on the document number of the selected voucher to view its comprehensive details.
This section provides all relevant information, including the reconciliation data used for the last recommendation and the reason behind the recommendation.
Click the Audit trail button for the selected voucher to review its complete audit history.
Here, you'll find the entire recommendation and posting history as recorded in the ERP system.
Sort the documents by any column to organize the data as needed.
For instance, sort the documents by ERP posting status to check their current state.
The ERP posting status indicates whether the recommendation provided by CLEAR has been successfully posted on the ERP. If the status is "filed," it means the recommendation hasn't been posted. Refer to the Posting Failure reason column for more details.
Click on the Audit trail section to view the history of the same voucher.
You can also filter the documents using parameters like vendor code, original vendor number, or document number to narrow down your search.
To modify a payment recommendation, select the voucher and click Action Initial.
To release a payment, choose the Release payment option and add a remark for record-keeping purposes.
Once you've entered the remark, proceed to release the payment.
If the posting of a recommendation fails, select the Post again to ERP option.
The system will attempt to repost the recommendation to the ERP.
Request new payment recommendations by reconstructing the payment suggestion.
Download a single document or a set of documents for your convenience.
To view recommendations for other PANs, select a different PAN from the drop-down menu.
Click the block or release voucher number to view the details of block and release postings.
Review the voucher number associated with the release posting and the voucher number linked to the block posting.
By following these steps, you'll gain a comprehensive understanding of vendor details, the rationale behind recommendations, and how to effectively resolve any posting failures. This ensures a streamlined and efficient payment process.
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