Accounting Finance:Payment Proposals (Cheques)

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Overview

In this routine, you create payment proposals and confirm cheques to send to your suppliers.

  • The system provides you with unlimited methods of paying your suppliers. The payment function is controlled by parameters in the Name file for each supplier, such as payee number, payment mode, and supplier’s bank.
  • The system creates one payment document per payment mode, transaction currency, supplier number, supplier’s bank and payment date.
  • Several proposals can be active at one time, but a document can only exist in one proposal. You can only maintain one proposal at a time.

Working with Payment Proposals

Create a Payment Proposal

  1. Click ASW Fastpath
  2. Click Cash Management
  3. Click A/P Cash Management Tasks
  4. Click A/P Payment Tasks
  5. Click Work with A/P payment proposals
  6. Click Add to add new payment proposal

PaymentProposal1.png

  1. Enter Proposal description
  2. Enter First payment date
  3. Enter Last payment date (today’s date OR if the 30th is during the weekend, enter the 30th on the Monday)
  4. Enter Due date (today’s date or if the 30th is during the weekend, enter the 30th on the Monday)
  5. Enter Priority (1-1 do not mail or 2-8 mailed)
  6. Enter 1 and CHEQUE in Payment mode
  7. Enter 1 and Transaction currency (CAD or USD)
  8. Press Enter to confirm

PaymentProposal2.png

  1. Change Nil supplier balance to N
  2. Change Neg supplier balance to N
  3. Press Enter

PaymentProposal3.png

  1. Change Not payables to N
  2. Change Printer queue to PRT01
  3. Press Enter to confirm

PaymentProposal4.png

  1. Create next proposal OR
  2. Press F12 when all proposals have been generated

PaymentProposal5.png

Change a Payment Proposal

  1. Double-click each proposal, one by one

PaymentProposal6.png

  1. Double-click each supplier and make sure all the dates are the same (Note – some suppliers will have transactions with different due dates, you must change invoice due dates to one due date in order to print one cheque per supplier or multiple cheques will be printed)
  2. Press Enter

PaymentProposal7.png

  1. Highlight the invoice you want to maintain
  2. Press Enter

PaymentProposal9.png

  1. You can change: payment date, payment amount, cash discount, bank/account number or bank reference no (Note – when changing a supplier with discounts, make sure to blank out the payment amount ($) by using the space bar)
  2. Press Enter

PaymentProposal10.png

Delete a Payment Proposal

  1. Select a payment proposal
  2. Click Delete to delete a payment proposal if there is nothing in proposal

PaymentProposal11.png

  1. Press Enter to confirm deletion

PaymentProposal12.png

Create a Payment Order

  1. After all dates are corrected, click payment proposal and click Payment order to create a payment order (Note – payment order will create a file to be used in CheqMaster complete with cheque numbers)
  2. After selecting payment order for each proposal go to Work with jobs to make sure there are no active proposals

PaymentProposal13.png

  1. Change Pay type (change to CHK for USD cheques)
  2. Change Our bank (change to 002 for USD cheques)
  3. Press Enter

PaymentProposal14.png

  1. Change Printer queue to PRT01 (we do not print the proposal)
  2. Press Enter

PaymentProposal15.png

Run Cheques

  1. Go to the Cheque Control Log and setup for the run (Accounting/Common/AP/Banking/Cheque Control Log/Cheque Control Log-2009-2016)
  2. Copy the date cell down and change the day
  3. If more than one cheque run, copy the date cell as needed
  4. Use drop downs for column E & F
  5. After completing the worksheet, confirm all controls balance

PaymentProposal16.png

  1. Open CheqMaster
  2. Press any key to pop up logon screen or ESC to cancel
  3. Enter Logon ID (should be all capital letters)
  4. Enter Password
  5. Press Enter

PaymentProposal17.png

  1. Press F1 to initialize printer for cheque printing
  2. Check to see if printer is “Ready”

PaymentProposal18.png

  1. Press Enter

PaymentProposal19.png

  1. Press F2 --> Select a Cheque File for Processing

PaymentProposal20.png

  1. Press Enter

PaymentProposal21.png

  1. Press Enter to select entire file
  2. Go to the Cheque Control Log and enter # of cheques and ($) value

PaymentProposal22.png

  1. Press F4 --> Toggle Printing of Signatures on Cheques

PaymentProposal23a.png

  1. Press F5 --> Print the Selected Cheque File

PaymentProposal24.png

  1. Press Enter

Note – this screen only appears when there has been a correction

PaymentProposal25.png

  1. Look through cheques to make sure they are correct and press Y if you are finished with this file OR press N if you are not finished and need to re-print
  2. Press Enter

Note – if you forgot to press Y when you have finished with file, please contact IT. IT will remove file from directory for you.

PaymentProposal26.png

  1. Press F6 --> Administration (to print cheque register)

PaymentProposal27.png

  1. Press F6 --> Log Report Access & Maintenance

PaymentProposal28.png

  1. Press F5 and Enter to Print A/P Reg
  2. Retrieve printout first
  3. Press F6 to Reset A/P Reg

PaymentProposal29.png

  1. Type YES to confirm you wish to re-set A/P Reg but do not press Enter
  2. Collect register from cheque printer to confirm listing and dollars
  3. Press Enter
  4. Press F9 for next batch

PaymentProposal30.png

  1. Go to the Cheque Control Log
  2. Enter first and last control numbers
  3. Enter first and last cheque numbers

PaymentProposal31.png

Confirm a Payment Order

  1. Select a payment proposal
  2. Click Confirm payment order to confirm a payment order

PaymentProposal32.png

  1. Click Update (on left panel)

Note – count VOID-stubs and enter into cheque control log

PaymentProposal33.png

Update Accounts Payable

  1. Select a payment proposal and click Update to update accounts payable

PaymentProposal34.png

  1. Press Enter

PaymentProposal35.png

  1. Press Enter

PaymentProposal36.png

  1. Enter Voucher type to 40
  2. Change Printer queue to LP05
  3. Press Enter

PaymentProposal37.png

Preparation of Cheque Batches

  1. Go to the Cheque Control Log and enter journal number and cheque ($) total.
  2. Attach cheque register on top of batch report
  3. Place all cheques which require signatures on top of each batch (double signatures first, one signature second)
  4. Place EFT (GET YOUR PAYMENTS FASTER…) sticker on cheque to encourage vendor to sign up for EFT
  5. Forward all batches to Manager, Finance
  6. Manager, Finance will forward to CFO/GM for required signatures
  7. CFO/GM will return all batches to Cost Accountant

Cheque Distribution

  1. Forward (DO NOT MAIL) cheques to Angela Chan
  2. All mailed cheques should be inserted into envelopes and placed in mail basket
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