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Approve Supplier Invoices for Payment Summary Reprint Checks Check Specifications
Pay Supplier Invoices and Print Checks |
  
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Approve Supplier Invoices for Payment Summary Reprint Checks Check Specifications
Pay Supplier Invoices and Print Checks |
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Click this button or select File | Review and Approve to Review and Approve Supplier Invoices for Payment.
BankAccountID
If you have set up multiple Bank accounts then you can choose a particular Bank. Only those Invoices whose BankAccountID matches this BankAccountID are eligible.
Supplier
If you choose Selected then only Invoices for the Suppliers in your Supplier List are eligible. Otherwise, if you choose All then all Invoices that meet the other criteria are eligible.
Invoice Review Selection
When checked the review form includes Invoices that are already on Payment Hold.
When unchecked then Invoices that are already on Payment Hold will not be displayed.
Check Date
This determines the transaction Date. If your System Administrator has specified Earliest Open and/or Latest Open Dates for Accounts Payable transaction entry and importing then this date must be within that range.
Check Date also determines Cash Discount eligibility. If the Check Date is after the Cash Discount Date of an Invoice then Cash Discount is not applicable to that Invoice.
Cutoff Date
Select only those Invoices whose Payment Date is on or before this Cutoff Date.
Phase 1 - Process Approved Invoices for Payment
During your review and approval you may have set Invoices on Payment Hold that were originally not on Payment Hold, or you may have removed Payment Hold from Invoices that were originally on Payment Hold.
When you request paying those approved Invoices the first phase selects those approved Invoices (e.g. those Invoices that are not on Payment Hold).
Phase 2 - Determine Cash Discounts
The next phase of Check processing determines the Cash Discounts, if any, that are applicable to the selected Invoices.
A Cash Discount is taken only if it meets the following requirements.
You can change the values in any of these three fields involved - Cash Discount Amount, Cash Discount Date and Gross Pay Amount using the Payables transactions maintenance task.
Cash Discount Amount
The applicable Discount amount is specified in the Cash Discount Amount field.
Cash Discount Date
If the Check Date you specified is on or before the Cash Discount Date for the transaction, then the Discount may be eligible. If the Check Date is after the Cash Discount Date then the Discount is not eligible.
Gross Pay Amount
Gross Pay Amount must equal Balance. That is, if this is only a partial payment, then the Discount will not be taken at this time.
When the Preview choice was requested then this is the last phase and you will be presented the normal report options. Otherwise, when the Process choice was requested, it will continue with the next phase and generate check transactions and update the appropriate tables.
Phase 3 - Generate Check transactions and update tables
This phase generates the Accounts Payables Check transactions and updates the appropriate tables.
Check transactions are inserted into the ApTrans, ApTransDetail and ApTransCheckDetail tables. Invoice transaction records are updated to reflect their having been paid - either fully or partially. Cash application records are inserted into the ApApply table.
When all these accounting transactions are completed, these Check transactions are ready to be printed.
If you accidentally processed a Check incorrectly then you can Reverse it later using the Maintenance | Payables transactions maintenance task. When you Reverse that Check the system will UnApply that Check (restore the Balances of those Invoices that were paid by that Check) and generate a full reversing transaction.
Phase 4 - Print Supplier Checks
The final phase is to Print these Checks.
When the Check number is preprinted on the Checks then you are prompted to confirm or specify the starting Check number for these checks. Normally you would probably prefer to print Checks at this time, and would continue here as described below. However, if you wish, you can simply exit this task now and print these Checks later.
The Check number is saved in the CheckID and Reference fields of the Payment transaction. Those fields are initially set to the ApTransID assigned by the system to that Payment transaction. When you specify a different starting Check number then the system updates those fields in the Payment transactions before continuing.
Remember that these Check transactions have already been processed and have already updated the permanent transaction tables. They just haven't been printed yet. Previewing them on the screen simply shows you what will be printed.