After recording an invoice and marking it ready for payment, issue a payment to reduce your assets and print checks.
Once a payment has been created for all items on an invoice, both the invoice and PO will be marked as paid, even if the payment has not been approved/printed.
Payments can be created in advance. EFT and Credit Card payments do not affect the general journal until they have the status Approved. Check payments do not affect the general journal until they are printed.
Create many payments
If you enter several invoices at the end of the month instead of as they arrive, it may be convenient to mass create payments.
When using the mass create page, checking two or more invoices by the same vendor will combine them into a single payment. If you wish to print multiple checks for the same vendor, you should create each payment separately.
To enter create many payments at once:
- Go to Financials Main > Accounts Payable > Payments
- Mass Create Payments
- Check the invoices that should be paid
- Enter the Date of the payment (the date to be displayed on the check, if applicable)
- Select the Payment Type and a financial institution account or credit card that is making the payment
- If running checks, decide whether to Print Checks, Create a Check Run, or Create Payments Only.
- Print Checks - Use to make immediate payments affecting the general journal. Beta customers should choose this option and Manually Assign Check Numbers.
- Create a Check Run - Use to prepare a set of checks for future approval, as in front of a board. After approval, see Check Runs.
- Create Payments Only - Use if you aren’t ready to print the check or add it to a check run. The status of the payment will remain in Draft and not affect the general journal until manually changed.
Create a single payment
Single payments are commonly used when printing off a quick check that doesn’t need board approval, or if you enter invoices as they come in and will combine them into a check run later.
With this method, you may only choose invoices from a single vendor. If you select multiple invoices by the same vendor, they will be combined into a single payment. To print two separate checks for the same vendor, create two separate payments.
To create a single payment:
- Go to Financials Main > Accounts Payable > Payments > Create Payment
- or go to Financials Main > Accounts Payable > Vendor Invoices, click the down arrow next to the invoice, then Create Payment
- Draft if the payment needs to be approved before printing
- Approved if you are ready to print the check right away