(AP – Payment Processing)
Use this screen to select supplier invoices or payment and to make payment them by check or electronic transfer.
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Accounts Payable Training Course
Upper Panel
Payment Date
This defaults to today’s date, but you can select another date if you wish.
Pay All with Due Dates thru
If you want to automatically select all invoices through a specific due date, select a date in this field. The Pay field in the selection grid will be selected for all invoices that fall within this date range. You can individually de-select the Pay column for any exceptions.
Pay All within Discount Period
If you want to pay all invoices that are currently eligible for a discount (meaning the discount due date has not yet expired), select this checkbox. The Pay field in the selection grid will be selected for invoices that qualify for discounts.
Payment Type
You must a select a Payment Type to determine whether this batch of payments is to be paid by check, credit card, etc.
Bank Account
Select the Bank Account from which this payment batch is to be paid.
Net Pay Total
This read-only field displays the total value all invoices selected for payment in the selection grid.
Selection Grid
All open invoices with remaining unpaid amounts are displayed in the selection grid.
Due Date
This is the date the invoice is due for payment.
Remaining Amt
This is the unpaid amount remaining against this invoice.
Pay
Select this checkbox to select an invoice for payment. The Remaining Amt is transferred to the Pay Amt field and if the invoice is eligible for a discount, an entry is made to the Discount Amt field.
Pay Amt
This is the total amount, including any discount amount that you intend to pay. Reduce this amount if you wish to pay a portion of the Remaining Amt.
Discount Amt
This is the portion of the Pay Amt that will be taken for paying within the Discount Days associated with this supplier’s payment terms. If you wish to see the payment terms detail, click the Drill Down button to view the supplier invoice record.
Net Pay Amt
This is the actual payment amount to be made, which is the Discount Amt subtracted from the Pay Amt.
Supplier, Invoice No, Invoice Date
These read-only fields help you identify the invoice.
NOTE: If you wish to sort the screen by supplier, click the Supplier column heading.
Pay Reference
You can enter a 25-character note internal reference purposes.
Pay Button
Click this button to pay the selected invoices. You are presented with the Payment Preview screen.
Payment Preview Screen
This screen displays all the invoices selected and their payment amounts and gives you a chance to review them before continuing with payment processing.
Payment Type Method
This field displays the method of payment associated with this Payment Type.
| • | ‘PRINT’ means that you are paying by check. |
| • | ‘MANUAL’ means that you will write a manual check. |
| • | ‘FILE’ means that you are paying by electronic file transfer. |
Reverse
If you wish to exclude a selected invoice from the payment group, select its Reverse checkbox.
Register Button
Click this to print a Check Register List, which is a listing of the invoices selected for payment.
Print Checks Button
This button is visible when the Payment Type Method is ‘PRINT’. You are presented with the Pay Date & Starting Check No screen.
Pay Date & Starting Check No Screen
Check Print Date
This defaults to the Payment Date that was selected on the main screen. You can change it here, if you wish. This will be the GL posting date of the payment transactions.
Starting Check No
You can change the Starting Check No if needed, which defaults to the next check number stored against the Bank Account.
OK
Click this button to continue. You are next presented with the Print Checks screen.
Print Checks Screen
This screen provides a preview of the check run. It displays each Check No, the Supplier, and the Payment Amt.
Print Checks Button
Click this button to print the checks. After checks are printed, you are presented with the Check Posting screen.
Check Printing Formats
Several check printing formats are available and can be modified to fit your forms. The check format is stored against the Bank Account in the Bank – Banking Setup – Bank Accounts screen.
Check Posting Screen
When the checks are finished printing, you are presented with the Check Posting Screen.
Post?
If any of the checks did not print properly, you can clear its Post? checkbox and the check will be excluded from posting and can be selected and printed once again.
Post Checks Button
The final step is to click this button, which posts the transactions to the General Ledger. A debit is made to Accounts Payable and a credit made to the bank account’s Asset account.
Pay Button
This button is visible when the Payment Type Method is ‘MANUAL’ or ‘FILE’. You are presented with the Process Payments screen.
Process Payments Screen
This screen displays a final view of the payment details.
Pay Button
Click this item and the supplier invoices will be paid. A debit will be made to Accounts Payable and a credit made to the bank account’s Asset account.
