Setting Up Your System for Future Dated Payments
Setting up Payables for future dated payments:
2. In the Automatic Payment Programs window, define payment programs to format future dated payments. See: Automatic Payment Programs.
3. In the Payment Formats window, define payment formats for your future dated payments. Choose either the Future Dated or Manual Future Dated payment method. In the Programs region, you can select future dated payment programs you defined in the Automatic Payment Programs window. See: Payment Formats.
4. In the Payment Documents window, for the bank account from which you want to disburse future dated payments, define payment documents that use future dated payment formats you defined in the Payment Formats window. Enter the Cash Clearing Account you want to use. See: Defining and Maintaining Payables Payment Documents.
5. Optionally assign to suppliers that regularly use future dated payments a default payment method of Future Dated or Manual Future Dated. The payment method you specify will default to the Payment Method field when you enter invoices for the supplier. You can override this payment method default during invoice entry. See: Payment Region of the Suppliers and Supplier Sites windows.
FUTURE DATED PAYMENT RESTRICTIONS
ALLOW RECONCILIATION ACCOUNTING AND ALLOW FUTURE DATED PAYMENTS PAYABLES OPTIONS: You enable only one of these two Cash Clearing Payables Options.