Exercise- Process a vendor payment by using a payment journal
This exercise demonstrates the various methods that you can use to create vendor payments, including how to use a payment proposal or how to manually enter a one-off payment.
This exercise uses the USMF demo company.
Go to Accounts payable > Payments > Vendor payment journal.
Select New.
Select the payment journal in which to save the vendor payments.
Select the journal or manually enter it.
Select Lines.
Select Payment proposal.
Select Create payment proposal.
Select invoices for payment by due date, cash discount date, or both.
Enter the date for comparing to the due date or cash discount date.
Optional: Enter a payment date to use for all payments. (The date that you enter is the payment date for all payments that you create, regardless of the due date or cash discount date.)
Optional: Enter a minimum payment date, which you can use as the payment date. (The minimum payment date is the earliest date that you use when creating payments. For example, if an invoice has a due date after the minimum payment date, the due date becomes the payment date instead of the minimum payment date to pay the invoice on the latest possible date.)
Enter other query restrictions under Records to include. (You would use this filter to restrict the invoices that you select for payment by vendor group or method of payment. For example, you can add a filter to only pay invoices by check in this pay run.)
Enter extra query restrictions or payment defaults. (You can use the advanced parameters to define the payment currency or to turn on centralized payments for this pay run.)
Select OK. After you select OK, the results of the query appear. If you don't want to preview the list of selected invoices to pay, you can return to the Parameters tab and change Create payments without invoice preview to Yes.
Select the Show payment overview button to view the payments that you plan to create for the vendor on the selected invoice.
Select the Hide payment overview button to hide the payments.
Select Create payments. (Before selecting Create payments, you can right-click the grid and export the list of invoices to Microsoft Excel. The Create payments button creates the vendor payments in the payment journal.)
Scan your payments and make sure that you define the method of payment for all payments. (If you generate the payments, such as printing a check or creating an electronic payment, you must define the method of payment. The method of payment also defaults to the bank account from where you make the payment.)
Select New to create a one-off payment. (You can add a one-off payment to a payment journal at any time before posting. To do so, select the New button and then add the payment information manually rather than using the Payment proposal.)
Select the vendor to whom you plan to make the payment.
If an invoice exists to pay, select Settle transactions to select the invoice for payment. (If this payment is a prepayment, this step is optional. You can create the payment without selecting an invoice.)
Mark any invoices that you plan to pay. (If you use Settle transactions to select the invoices for payment, the system automatically calculates the payment amount based on what invoices you mark for payment and what amount you enter in Amount to settle.)
Select OK.
If you want to delete a payment, mark the row.
Select Delete. (Deleting a payment only deletes the payment. Invoices that you mark for payment are still available to be paid by another payment.)
Select Yes.
Select Generate payment to print checks or create an electronic payment file.
Select the method of payment that you want to generate. (The payment journal can contain payments for checks and electronic payments, but you can only generate one payment type at a time.)
Select the bank account from which to generate the payments.
Select OK. (The system only generates payments for payments that match the method of payment and bank account that you select.)
If you're generating checks, select Document to ensure the correct print destination for the checks.
Select OK.
Select OK to generate the payments.
Select Post if all payments are approved and generated.