Daily Operations -- Payment Types

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Payment Types

    Use Bank Accounts/Disbursents Checks or
    Payables/Vendor Invoices/Create Payments/Quick Checks/Manual Payments

    Disbursements Checks
    Provides the appropriate check-writing method for cash-based businesses. Bank Accounts/Disbursements Checks lets you enter and print checks that are not intended to go through a control account. The system credits the bank account for the amount of the check and debits the G/L accounts you specify for the amounts you enter.

    Two useful features of Disbursements Checks are: Check printing; and vendor distribution prompts. When you enter checks to vendors who are set up and assigned distribution account prompts in Payables, Disbursements Checks displays the distribution prompts when you select a vendor as the payee.

    Provides all the functionality of accrual accounting. Payables manages vendor information including multiple control accounts, account prompts, current and past due balances, quick multiple vendor payment selection and check printing, activity reports, and other information related to entering and tracking vendor purchases and payments.

    Payables provides a number of flexible options for entering and paying for purchases from regular and occasional vendors. You can enter invoices for later payment, for immediate cash payment, or for immediate payment by manual or system-printed check; create a batch of system-printed checks to pay off a selection of vendors; and record payment by manual check of a selection of vendor invoices.