Paying Invoices with Quick Payments
You can create and print a computer generated payment to pay a supplier for one or more invoices. You can also create a check, save it, then print it later.
If you use the EDI Outbound payment format and you use Oracle EDI Gateway, then you can create electronic Quick payments.
When you create a quick payment you can select an invoice regardless of the payments terms and due date. For example, you can create a Quick payment for an invoice that is not yet due.
Prerequisites
Enable the Allow Print Payables option.
The invoice(s) must be approved, uncancelled, and without holds.
The invoice(s) must have either the same currency or an associated fixed-rate currency as the payment.
If you are creating an electronic payment, you must assign supplier banks to your supplier. See: Defining Supplier Bank Accounts. The scheduled payment(s) must have the Remit-to supplier bank specified.
The bank account must have at least one payment document that uses Computer Generated or Combined disbursement type.
To create a Quick payment:
1. In the Payments window select Quick in the Type field. Enter the Bank Account from which you want to make the payment.
Enter a payment Document Name that is either a Computer Generated or Combined disbursement type. Optionally change the payment Document Number, which defaults to the next available number.
Optionally change the payment Currency if you are using a multiple currency bank account with a multiple currency payment document.
Enter the Payment document Date. The Date must be in an open or future period. You can only predate a computer generated payment if your Allow Pre-Date Payables option is enabled.
2. Enter either the Supplier Name or Number, and enter the Supplier Site.
3. If necessary, enter or adjust other information:
- If you want to create the payment for an address different from the supplier site and your Allow Payment Address Change Payables option is enabled, adjust the address. For example, you may need to send an expense check to a consultant working at a site away from home.
- If you record voucher numbers either manually or by using Sequential Numbering, enter or review voucher information.
- If the payment currency is different from your functional currency, enter exchange rate information in the Payment Rate region. For more information, see Foreign Currency Transactions.
- If you are making an electronic payment and you have enabled the Allow Remit-to Account Override Payables option, then you can select a different Remit-to account from the list of values. The list of values includes bank accounts assigned to the supplier that have the same payment currency.
Optionally choose Invoice Overview to review more information about an invoice.
5. Return to the Payments window. Payables automatically enters the payment Amount for you.
6. Choose Actions to navigate to the Payment Actions window. Format and optionally print the check:
- To format and print, first verify the payment document is in your printer, then select Print Now, optionally change the printer name, and choose OK.
- To format only and print the check later, select Format and choose OK. When you are ready to print, print from the Concurrent Requests Summary or from the operating system. You can use the Print Now option in the Actions window to print only if you print immediately after formatting. Payables prints to the printer defined on the format program.
QUICK PAYMENT RESTRICTIONS:
NUMBER OF INVOICES: You can only pay as many invoices as you defined for the remittance advice of the payment document.
SAME SUPPLIER SITE: You can only select invoices that have the same supplier site as the payment supplier site you enter. You can, however, change the payment mailing address if the Allow Payment Address Change Payables option is enabled.
PAY ALONE INVOICES: If you want to pay multiple invoices, none can be a "Pay Alone" invoice.
PAYING IN A FOREIGN CURRENCY: You must pay in the same currency as the invoice. You can enter and pay a foreign currency invoice only if your Allow Multiple Currencies Payables option is enabled, and you have defined a multi-currency or foreign currency denominated bank account.
CANNOT STOP FORMATTED QUICK PAYMENTS. You cannot stop a Quick Payment after it has been formatted.
See Also
Updating Payments
Voucher Numbers
Foreign Currency Transactions
Finding Payment Batches
Reviewing Payment Batches
Selecting Multiple Records
Entering Flexible Addresses
Automatic Interest
