Escheating Individual Payments

This section discusses how to escheat a payment.

Page Used to Escheat Individual Payments

Page Name	Definition Name	Navigation	Usage
Payment Escheatment	PYMNT_ESCHEAT	select Accounts Payable, then select Payments, then select Cancel/Void Payments, then select Escheat Payment, then select Payment Escheatment	Escheat payments.

Payment Escheatment Page

Use the Payment Escheatment page (PYMNT_ESCHEAT) to escheat payments.

Navigation

select Accounts Payable, then select Payments, then select Cancel/Void Payments, then select Escheat Payment, then select Payment Escheatment

Image: Payment Escheatment page

This example illustrates the fields and controls on the Payment Escheatment page. You can find definitions for the fields and controls later on this page.

Action

Select to run one of the following on-demand processes after you have marked and saved the escheatment. This creates the necessary reversal accounting entries.

1. Payment Post: Selecting this option runs only the Payment Posting process.
2. Journal Generate:Selecting this option runs the Payment Posting process and then the Journal Generator process.

See Payment Escheatment.

Payment Status

Escheated

Select to classify the payment as escheated. The Date Escheated field becomes available for entry.

Stale Dated Payment

Select to classify the payment as stale-dated. The Stale Date field becomes available for entry.

Undo Escheatment

Select to remove the escheatment classification.

Cancel Action

Escheated

When you select Escheated in the Payment Status group box, the system selects the Escheated option in the Cancel Action group box.

The Payment Posting process creates accounting entries that reverse the cash entries to an escheatment liability account, which you predefine on the Accounting Entry template.

Note: The system uses the escheatment date to compare to the effective date of the Accounting Entry template and then selects the active template.