If you enter a larger volume of vendor invoices, you can run a function to search for invoices to pay to ensure that none are missed.
To start system check processing, access Print Post Checks and Advices from the Payments menu, or click the Check Run button on the toolbar. System checks generate payments for a list of vendor invoices or other unapplied transactions, selected from a variety of criteria. Processing is performed for a specific bank and date used for all checks. You can print checks for any or all vendors and only checks with a total amount in a specified range. If any invoices have terms that allow for early payment discounts, you can enable the Take Discounts If Available option to select invoices for payment, even if they are not yet due. Enable On Or Before to choose invoices based on the due date and Ignore Discounts Before to exclude invoices where the discount opportunity has passed. Transactions can be forced for selection through Control Payments. Choose to pay only those that have the Forced Payment Status if desired.
The Pre-Check Register Report will print a list of invoices to be paid and also indicate if the transaction was selected because of the discount or the forced status. It will also indicate if a check will not be printed because the calculated check amount is not positive, or the total check amount is outside a specified range.
A second report, Payables Withheld, lists all vendor transactions that have been put on hold through control payments.
The Payments tab has a grid that shows the same list of selected transactions as the Pre-Check Register Report. You may edit an actual payment amount applied to any transaction by editing the record and changing the gross payment amount to the desired payment — even zero, to not pay the invoice. Right click on the grid to clear or pay any transaction, or set all payment amounts to zero or to the full payment value. The Status tab indicates the last time checks were printed, and whether any Manual Check Batches exist, to avoid accidental double payment.
When you are ready to print checks, click the Print/Post button. Check numbers will be assigned based on the sequence defined for the bank. The default Check Specification can also be assigned to the bank. Click the Print button to start the process, printing checks to the specified printer.
After checks have printed, you can choose to print an additional form. This option is often used for advice-only details, which can be emailed or faxed to the vendor, or for printing advices to plain paper to avoid wasting costlier pre-printed stock, when paying dozens of invoices. Always choose “yes” to “clear advice information” so nothing will be duplicated for the next check run. Continue from here to complete posting.
The Check Register is an audit report for system checks. Posting also updates Check Reconciliation and a separate Check Number Audit List report.
Adagio Accounts Payables System Check Processing helps you manage your cash outflow effectively by using an efficient system for check runs.
You can see a video of this primer on Softrak’s YouTube channel here.
Need more help? Contact us today!
