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Purchase Payments

Purchase Payments

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Purchase Payments

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There are two ways to get into Purchase Payments:

1.You can select Accounts / Purchases / Payments. You would normally highlight the appropriate supplier first on the main purchase browse screen to save searching for the Supplier again on the Purchase payment screen.

2.After you have entered a transaction and you have answer ‘Yes’ to ‘Pay Now?’

On the Purchase Payment screen you can confirm which transactions you are paying

WARNING - Do not date a payment of a purchase before the Invoice date or the retrospective Creditors calculation may not be correct. Use a Pre-Payment instead

Payment To – Ensure Supplier Name is correct

Payment Account – Confirm the account you are paying from (Bank Current Account, Petty Cash etc). The default account can be set in Settings

Payment Reference – The Cheque Number if paying by Cheque.  If Paying by cash enter CASH.  If Paying by Direct debit enter DD. It is normally better to enter your invoices as unpaid when you receive them and then use the Pay Due Purchases to automatically enter the cheque number on all invoices you are paying and print a remittance advice.

Payment Date – This is normally the current date.  Do not date the payment date before the invoice date or this will cause problems when calculating the Creditors at a specific time. Note you can normally use Accounts / Maintenance / Check Fix data to correct date errors.

Bank File option – Many banks have an option to send payment details in a file to save time processing payments in on-line banking. Please see Portal Guides to see if your Bank / Region is supported

Select Transactions for Payment - All owing purchase transactions should be displayed on this screen. You can hi-light any records by using the arrow keys and toggle between ‘Paid’ or ‘Not Paid’ by pressing <Enter> or clicking the Pay box. You can also group select by selecting ‘Auto-Apply’ on the left hand menu.

If you have any credit from Credit Notes or Pre-Payments they will show as negative amounts which can be used to allocate any owing purchase transaction(s).  If it is not an exact match and the amount is positive you can pay the balance.

Pre-Payments - Use this option on the left menu in the Purchase Payments screen when you want to make a payment but do not want to enter or select which invoices to pay, eg: Monies Paid on Account. On the Pre-Payment screen confirm the Amount, Payment Account, Payment Reference, Notes, Payment date and Due date for ageing. Note: The date for ageing is so you can set the Credit to be used in an older period rather than the current period.

This will create two records.  One positive one as paid to make your payment account balance correct and one negative one as NOT paid which acts as a credit on the supplier’s record.  Purchase invoices when available should be entered as applicable in the normal way and marked as not paid. You can then go into Purchase Payments and contra them.

Settlement Discounts - Purchase Settlement Discounts are entered for each transaction in Purchase Payments by selecting the after selecting the invoices to be paid in 'Pay Due Purchases'.  You can either select the discount as a percentage of the net value marked to pay or as an amount, which you can enter manually.


See also:

Personal transactions or payments from personal monies