Enter a Payment |
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There are two methods of entering payments for creditors.
Method one requires entering an amount into the Amount field, then allocating the payment to multiple vendor invoices by way of the Paid Now field for each invoice.
Method two allows for double clicking in the Paid Now field for purchase orders/vendor invoices – Jim2 will calculate the total in the Amount field. Continue in this manner until all payments have been made.
If Payment Approved is not ticked against an invoice, payments or credits to that invoice cannot be applied. In Tools > Options > Purchase tick Payments are Approved by default to allow this. This default setting largely depends on the business workflow as to who is ordering the goods and approving creditor invoices/purchase orders for payment.
If the person finishing the purchase orders (ie. checking them against the vendor invoices prior to finishing) is the person who is responsible for approving the invoices for payment, tick Payments are Approved by default.
If the responsibility lies with different people, the default setting would be for this not to be ticked, so the person paying the creditor would select the invoices that are approved for payment and only pay those that are approved.
You can also enter a payment without using either method. This will then show as an unapplied credit on the creditor record.
Hyperlinked fields Some fields provide hyperlink access to view associated information. Hovering the cursor over the wording to the left of the field will display the label name in blue if it is hyperlinked. Click on the label and choose the option to view. Card Code – will open the cardfile of the code entered here.
Further information Creditors Allocate Payments Grid Creditors Adjustments Up and Down Discounts and Account Fee entries Manage Payment Returned from Bank |