Recording auto-paid invoices

Recording auto-paid invoices

ISSUE: How to record invoice for payments that are made automatically (e.g. via debit card)

Solution:

Please review the options below and select the method that would work best for your organization.

Note:  All cheques created by this method will need to be cleared in the Cheque Return menu option so that they will not show up on the outstanding cheque list
 

• EFT configuration
   The following steps will configure the system for EFT recording of auto-payments:
  1. Configure the applicable vendors for EFT payment by filling out the banking information section of the vendor record*.   
  2. Create a new bank code (Settings à Accounting à Bank Codes)
  3. Create a new invoice entry batch code; use the the bank code created above in the Batch Bank Code prompt
  4. Enter all invoices that are auto-paid using this batch code.
  5. To record these invoices as being paid, do an EFT run exactly like any other EFT run, except selecting the bank code that was created for this purpose.   Once you’ve finalized your pay run, you’re done!  No need to print notifications, so the EFT file will never even be created.  If by chance the EFT file were to be created, be really sure not to send it to the bank. *

* An extra safeguard would be to put bogus banking information in the vendor record, so that if an EFT file were ever to be created and sent to the bank, it would just be rejected.
 

Please log a ticket with Edsembli FIN if you have any questions, comments or concerns with any of the above information.