AP: Payment Batch Process

Payment Batch Process

	Single Supplier Invoice	Multiple Invoices against same supplier	Multiple Supplier Invoices	Adjustments-Credit Memo/Discount Over-Ride	Partial Payment	Zero Payment	Manual Payment	Approvals
Payment Batch	Y	Y	Y	Y	Y	Y	N	Y
Payment WorkBench	Y	Y	N	Y	Y	Y	Y	N
Pay-in-Full	Y	N	N	N	N	N	N	N


"Payment Batch Process
Statuses"
1. Select	System will select all outstanding invoices	Review the selected invoices
2. Build	System prepares a batch run	Review Proposed payments
3. Format	System assigns check numbers	System generates payment file/check printing
4. Confirmed	Confirmed	System updates the payment batch to confirmed based on check printing/payment file acknowledgement from Bank


Pay Through Date
Meaning: This means that as on today how many invoices are due system will pick those invoices for payment
*In this example the pay through date is 26-May-2023
*In the below example if you selected the due date as "Date basis" then system will not pick INV 126 invoice because system will not look at the discount due date
and if we select pay date as an option system is selecting the invoice because it is falling on or before june since there is discount system will select the invoice and process the payment

				Pay Date Basis
		Invoice Due Date	Discount Due Date	Due Date	Pay Date
	INV 123	15-May-23		Y	Y
	INV 124	25-May-23		Y	Y
	INV 125	15-Jun-23	01-Jun-23	N	N
	INV 126	15-Jun-23	25-May-23	N	Y
	INV 127	26-May-23		Y	Y

When you submit Payment Process Request (PPR) System runs these jobs
1. Initiate Payment Process Request
2. Payables Selected Installments Report	>> In this system shows all the invoices which are selected for the payment
3. Build Payment Batch	>> System will process payment since we have selected the invoices in review installments stage
4. Format Payment Files	">> System Formats checks and generates payment file to bank.
>> If it is a check payment system prints the check and if it is an electronic payment then system will print the payment files"

Comments

Finance All Modules Process Flows

To- Be Process Flow General Ledger Manual Journal Approval Process Flow Journal Management Invoice Process Flow for Equipment Orders Payment Receiving Through Lock Box Process Flow Collections Overview Process Flow Process Flow to Handle Delinquent Customer Collections Process Flow Payable Invoice (PO Matched) workflow process Payable Invoice (Non PO Matched) Workflow Process Payment Batch Process IDR Process Flow To-Be Process Flow Bank Reconciliation - Payment Payables to Fixed Assets Flow Process Flow - Transfer Assets Process Flow –Reclassification (Change Category) Process Flow – Retire Asset Process Flow – Reinstate Asset Process Flow – Impairment Process flow- Depreciate Assets CORP Book to Tax Book TO-Be Process Flow – General Ledger Manual Journal Approval Process Flow Journal Management

Erpzen

Search This Blog