Creditor - Payment

Creditor - Payment

Menu Selection: Document - Creditor - Payment

Purpose

To provide for the creation or recording of a payment of funds to a creditor. Typically the operator will work with a cheque book. The reference number used to create a new payment document will be the next blank cheque form. The Suggest button is used to create a list of credit items on the account which the software considers are due for payment, based on the age of the items and the established payment terms in days. The operator then accepts or amend the suggested entries and uses the apply button to create the debit representing the payment in the database. Finally the cheque form is completed manually.

If computer printed cheques are required appropriate A4 remittance cheque stationery must be loaded in a suitable laser printer, and the Creditors Cheque report used to print the information from the payment entry.

Prerequisites

The creditor that is to be paid must exist in the Lilac3 Database. There must also be outstanding purchase invoices in the database.

Context

Type in the creditor’s key and reference (cheque number). The system will automatically retrieve the outstanding invoices from the creditor’s account history together with the creditor’s details that are required to be payed.

To print out a cheque for this Creditor you must leave the payment information on the screen and go to the Creditor's Cheques report and run this.

If the creditor is to be paid electronically then the Check Box Pay by EFT must be ticked in the Creditors Account document, and an auto incrementing reference number obtained by entering past the reference number field.

After a session of electronic payments use the Creditors Electronic Funds Report. This will create a file c:\work\creditor.aba containing data in the ACPA format suitable for import by various compatible banking software products such as National Online, Deskbank, etc.

About This Screen

This screen has 2 separate sections. The first is the head of the document. The second is the lines of the document. Each has there own fields with their own descriptions.

Head of the Document
Field	Enterable?	Instructions
Main	Yes	Type in the creditor’s key (to search, click the right mouse button or strike the F12 key).
Period	No	The current accounting period established at sign in is displayed here.
Ref	Yes	Type in the corresponding cheque number. The system automatically assigns a reference number if omitted by striking the Enter key.
Bank Account	Yes	The Default account appears automatically. This can be changed by striking the F12 key (search)
Currency	Yes	This field denotes the currency this creditor trades in. The currency is automatically retrieved from the Creditor’s Master File.
Buy Rate	Yes	Type in the current buying rate for this currency if applicable.
Australian	No	This field shows the conversion to $AUS when dealing with foreign currency. This field is not accessible.
Undo	Yes	Click with the left mouse button to undo the transaction.
Gross	No	Amount of the invoice. This field is not accessible.
Terms	Yes	Showing the Terms of Payment. The information is retrieved from Creditor's Master Record.
Pay By EFT	No	This shows you are paying by EFT. The Pay By EFT is checked in the Creditor's Master Record.
E F T Reference	Yes	Type in a reference number to tell payee what the payment is about.
Fax For Payment	Yes	Type in an alternative Fax Number if different to main Fax number (eg: to "Accounts Section")
Date	No	This field defaults to the working date.
Payee, Bank, BSB, Account	Yes	The creditor’s banking details are retrieved from the Creditor’s Master Record. The information on these fields is used for EFT purposes. (these fields would be blank when paying by cheque).
Value	No	This shows the total amount that is to be paid.
Posted	No	This shows the amount posted.
Un Distributed	No	This shows the amounts that have not yet been allocated against purchase invoices.
Lines of the Document
Field	Enterable?	Instructions
Date	No	This field is the date that the transaction or purchase invoice was processed on.
Target Ref	No	This field refers to the transaction or purchase invoice number.
Age	No	The number of days old this transaction or purchase invoice is.
Gross	No	The original amount of the transaction or purchase invoice.
Paid	No	The amount that has currently been paid. This field will automatically be updated upon processing of the payment, i.e.: after the Apply button has been clicked with the left mouse button.
Total Deductions	No	The total discounts offered on the transaction or invoice, as processed via the creditor payments screen.
Value	Yes	The amount of the purchase invoice you are paying. This amount can be overwritten by striking the space bar. and retyping the amount.
Discount	Yes	Type in a discount if applicable.
Taxable	Yes	If this purchase invoice or transaction is taxable this field will be ticked.
Then Due	No	The value of this field is the Gross - (Paid + Value + Discount + Total Deductions). This field is updated automatically upon invoice selection.
Balance	No	The Balance Outstanding. This field is updated automatically upon invoice selection.

Transaction Processing

Button	Description
Suggest	Clicking the Suggest button will fill in the lines of the document with outstanding purchase invoices and transactions, and will fill in the Value field for that line, if the Age of the purchase invoice/transaction exceeds the Terms field.
Apply	By clicking the Apply button you are satisfied with the value and allocation of the payment.
Fax	Clicking the Fax button will fax a copy of the Payment document to the creditor using the number in the Fax For Payment, or if that is blank, the Fax number is used.

From Here

To view a summary of the creditors distributions run a Creditors Distributions Report.