Outlines the Creditor Payments Process to Cashbook
To be able to post creditor payments to Cashbook automatically, this needs to be setup in both AP and Bank Account setup screens as below:
- Go to Company/Setup > Accounts Payable > Configure Module
- Select the ‘Payment’ tab
- In the ‘Cashbook’ section you must complete the following
- Tick the ‘update Cashbook Automatically’ tick-box and carefully read the message displayed regarding IRD / GST returns
- Select the appropriate analysis code for Creditor Payments (often this is just ‘Sundry Creditors’ or ‘Accounts Payable’
- Select the payee account to be used for these payments in Cashbook (this is only used if we don’t select ‘detailed’ in the bank account setup process further below). You may need to create a new account for this, often users will have an account named ‘Creditor Payments’ for this purpose
You have now completed the Accounts Payable side of the setup. Payments entered in Accounts Payable will flow through to Cashbook automatically once they are processed.
You can select whether you want the payments to come through as individual transactions in the cashbook (which will select the appropriate payee for each transaction automatically) or summarizing them all into the one transaction when doing an
Accounts Payable ‘Payment Run’ by altering the bank account setup as described below:
- Go to: Company/Setup > General > Bank Accounts
- Edit the appropriate bank account(s) (this setting needs to be defined for each bank account)
- In the ‘Post Transactions’ area, Select ‘Summary’ to summarize all payments of a payment run into one transaction, or select ‘Detailed’ to post individual transactions per Creditor
If you have any further questions, please call the help desk on 09 583 2455