Vorherige

Suggest, export and post vendor payments

  • 9 Min.

You've completed all the basic setup of the payment journal, and now you get to do a bit of real work in the payment journal.

First, go to a vendor, and create a new document of the type Purchase Invoice. When all the necessary information is filled in, before you post the invoice, take a look at the Validation FactBox. If any payment information on the invoice doesn't live up to the bank's requirements, you will get an error description in this FactBox upon posting. Correct the information and, when the invoice is valid, post it.

PM Vendor invoice

When the invoice has been posted, go to the payment journal and create a suggestion based on the setup in the previous unit. Go to Prepare > Suggest Vendor Payments.

PM Suggest vendor payments

Accept the setup, and in the payment journal all the payments that comply with the period you defined in the Posting Date Setup appear, including the payment suggestion for the invoice you just created.

PM Payment Journal

Everything in the payment journal is as expected, so now you just select Home > Export/ Send Payments. This will export the payments and the status will change on the payment lines. If you want to update the status later, you can do that from the menu Home > Update Status.

Note

You have the option to use both manual and direct communication with the bank. In this module, we use direct communication. For every communication with the bank, a file is sent, from BC to the bank, or vice versa. You can view the communication log for each line in Payment Status FactBox.

When the payments have been processed by the bank, the status updates to Paid, and then you are ready to send the notification to the vendor.

To send the notification, in the action bar, select Home > Prepare > Send email Notification....

As the final step, you post the payment lines by selecting Post/Print > Post.

And then you're done. Great job!

Video

This video takes you through how to handle payments in the payment journal.

Note

This video was created in an earlier version of the solution, so it differs slightly from the current version of Payment Management.