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Payment Batch or Quick Payments

Prerequisites

   Your supplier sends you an invoice.

   Enter the invoice in the Invoices window, and enter either Future Dated or Check in the Payment Method field. See: Entering Invoices.

   Submit Approval for the invoice. See: Approval.

   To create a future dated payment using a payment batch or a quick payment:

1. To pay the invoice in a payment batch or as a Quick payment in the Payment Batches window or the Payments window, choose a future dated payment document, and enter a Maturity Date. Payables will then automatically create the future dated payment.

2. You send the payment to the supplier.

3. The supplier submits the payment document to the bank.

4. The bank disburses funds on the maturity date you specified.

5. Your bank sends you payment reconciliation information.

Manual Payments

Prerequisites

   Your supplier sends you an invoice with a future dated payment request.

   Enter the invoice in the Invoices window, and enter either Manual Future Dated or Future Dated in the Payment Method field. See: Entering Invoices.

   Submit Approval for the invoice. See: Approval.

   To record a future dated payment using a manual payment:

1. In the Payments window, record the invoice payment as a Manual Payment.

• If you use the payment document your supplier sent you and do not create a payment document, enter Manual Future Dated in the Payment Method field.

• If you manually created a future dated payment that you want to record, enter Future Dated in the Payment Method field.

2. Enter a Maturity Date.

3. Return the payment notice to the supplier.

4. The supplier submits the payment request to the bank.

5. The bank disburses funds on the maturity date the supplier specified on the payment notice.

6. Your bank sends you payment reconciliation information.

See Also

Paying Invoices in Payment Batches

Recording Manual Payments and Wire Transfers

   To void or stop a future dated payment:

• You can record a stop payment on a future dated payment document or void a future dated payment document as you would any payment document. See: Stopping Payments, or Voiding Payments.

   To define a recurring invoice template with a future dated payment method:

• When you define a recurring invoice template, enter Future Dated or Manual Future Dated in the Payment Method field. See: Defining a Recurring Invoice Template.