Accounting Finance:Payment Proposals (Cheques)

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

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

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

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

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

Change a Payment Proposal

1. Double-click each proposal, one by one

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

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

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

Delete a Payment Proposal

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

1. Press Enter to confirm deletion

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

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

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

Confirm a Payment Order

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

1. Click Update (on left panel)

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

Update Accounts Payable

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

1. Press Enter

1. Press Enter

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

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