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Supplier payments need to be entered into the system so the Bank Reconciliation process has the relevant transactions in it and the financial information is up to date.
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Supplier Invoice
Open a Supplier (Creditor) Invoice.
Supplier Payment
Use the Action Button on an Invoice to create a payment
A payment window will open where you have some information to enter :if not held on Creditor
Once you have made your selections then save the payment is on the bank statement and awaiting reconcilation.
Next allocate the payment to the invoice/s you wish to mark as paid
Allocations of Payments and Credit Notes to Invoices
From the payment screen
Now the payment will be allocated to the invoices.
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Mass creating payments
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- Pay Creditors Screen
View all the debt that is in the system and unpaid using the "Pay Creditors" screen
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The button "Create Payments" will create:
- One Create a creditor payment for each selected creditor
- Creditor payment is applied to Payment Clearing account
- Creditor payment is added to a batch
- Creditor payment has a status of Undeposited/Pending
- Allocate the payment to the chosen invoices
- Email remittance advice
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The payment will have todays date. Normally to make it easier to reconcile the bank statement - create payments in the system on the same day you create the payments in the bank |
Remittance Advice
Remittance Advice is sent automatically to any contact with an email that has a Role type of "Remittance Advice" for a Creditor being paid.
The Email Templates that will be sent has Usage Context of "Creditor" and a System Usage of "Pay Advice"
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Because the email is auto generated by the system you will need to select Auto Gen: Yes or Yes+No on the Correspondence tab to see it listed You can resend remittance advice by locating the email and using Resend. |
From the Bank Reconciliation Screen
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See Creating and Managing Bank Accounts for details
Payment Clearing Account
If your bank has a single line for multiple payments - then you will need to use the Payment Clearing Account
- Each Creditor Journal will be journaled to the Clearing account nominated in the Maintain GL Control Screen and they will grouped together in a Journal Batch
- After creditor payments are created for all selected creditors a general journal is written to transfer the funds for all of the payments, from the Payment Clearing account to the selected bank account
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To create an ABA file for the payments that you can upload to your banking software - navigate to the Batch, use the Status Menu > Create ABA File |
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