Settle vendor consolidated invoices by using settle transactions

In Japan, payments are made and settled against consolidated invoice.

This procedure walks you through settling a consolidated invoice using settle transactions.

You need to make sure that a consolidated invoice is created and confirmed, and a payment is posted before running this procedure.

This procedure was created using the demo data company JPMF.

Confirm Consolidation invoice to be settled

1. Go to Accounts payable > Periodic tasks > Consolidated invoice.
2. Note the value in the Consolidation ID field to reference later
   • Confirm that the consolidated invoice to settle has a status of Confirmed. In this example: Consolidation ID - JPMF-000004

Settle Consolidation invoice

1. Go to Accounts payable > Vendors > All vendors.
2. In the list, find and select the desired record.
   • Select the vendor that you want to settle the consolidated invoice for. In this example, we use JPMF-000002.
3. On the Action Pane, click Invoice.
4. Click Settle transactions.
5. In the list, find and select the desired record.
   • Select the record with Consolidation ID = JPMF-000004.
6. Select or clear the Mark check box.
   • Mark the Invoice.
7. In the list, find and select the desired record.
   • Select the payment transaction, valued more than the Invoice amount.
8. Select or clear the Mark check box.
   • Mark the payment transaction.
9. Click Post.

Validate Consolidation invoice status to Settled

1. Go to Accounts payable > Periodic tasks > Consolidated invoice.
   • Confirm that the status of the consolidated invoice is now "Settled".