When you make payments to vendors or customers, or reimburse your employees, you post the related payment lines on the Payment Journal page. The payment journal is a general journal that is optimised for making payments and includes a number of powerful functions such as the Suggest Vendor Payments function that finds vendor payments that are due, and the Vendor - Summary Ageing report that shows an overview of due vendor payments.
You can start the process of making the payment from the lists, cards, and ledger entries for vendors, customers, and employees. Each of these pages has a button that starts the payment flow and helps you fill in the payment journal.
From the payment journal, you can print computer cheques or record when cheques are written. If you select Computer Cheque in the Bank Payment Type field, then any lines representing cheques must be printed before the payment journal can be posted.
When the payments are posted, you can export them to a bank file for upload to your bank for processing.
After the payments are made at your bank, you must apply them to their related open vendor or employee ledger entries. You can do this manually or by importing a bank statement file and applying the payments automatically. For more information, see Applying Payments Automatically and Reconciling Bank Accounts.
The following table describes a sequence of tasks, with links to the topics that describe them.
|Understand basic functions of the Payment Journal page, which is a based on the general journal, to prepare to post payments to vendors or employees.||Work with General Journals|
|Post payments to vendors or employees and refunds to customers, and optionally apply the payments to the related unpaid invoices/CR/Adj Notes to close them as paid.||Record Payments and Refunds|
|Use a function on the Payment Journal page to suggest vendor payments according to selected criteria, such as due date, discount eligibility, and your liquidity.||Suggest Vendor Payments|
|Issue cheques for vendor payments or customer refunds, either as print-outs or as computer cheques. Void cheques before or after posting.||Make Cheque Payments|
|Make electronic payments according to the EU SEPA Credit Transfer standard.||Making Payments with AMC Banking 365 Fundamentals extension or SEPA Credit Transfer|
|Pay a vendor by cash or cheque, and post the payment when you post the invoice.||Settle Purchase Invoices Promptly|
|Make sure that your bank only clears validated cheques and amounts by sending them a file that contains vendor, cheque, and payment information.||Export a Positive Pay file|