Making Deferred Check Payments

When you enter the voucher, ensure that its pay instrument is deferred check (D).

Before you create payment control groups, specify the final account that you set up in the Deferred Check Table program (P76A0421) in G/L Bank Account processing option of the Create Payment Control Groups program (R04570).

When you print the payment, the system displays the Enter Draft Check Days form.

Enter the number of deferment days of the check on this form. The system adds the number of days that you enter to the latest due date of the vouchers belonging to that pay group to determine the due date of the check that will be issued.

When you update the payment, the system generates a new voucher of type P1.

This new voucher represents the deferred check that still has to be charged. The P1 voucher has the following characteristics:

An amount that is equal to the net amount of the payment made.
A pay status of D.
A due date that corresponds to the deferment days that are added to the latest due date of paid vouchers.

The deferred check payment generates a batch of type K (A/P Checks [Automatic]).

Note: You can review deferred checks by using the Draft Inquiry/Selection program (P04260). You can use this program to modify the pay status of the deferred checks, which then enables you to select them by using data selection when they are charged.

When the payment is due, you use the Post Outstanding Drafts program (R04803) to pay pending checks.

In the processing options of the Post Outstanding Drafts program, specify the due date of the payments as the pay through date in processing option 1 on the Dates tab. The system uses this date to select the checks that must be paid.

The deferred check payment generates a batch of type G (General Accounting) and changes the pay status of the P1 voucher to paid.

Note: The Argentinian localization does not allow the use of multichecks. Therefore, to liquidate quotas by using deferred checks, you must create a payment group for each quota that is to be paid.

The system does not create a reversing entry when you void a paid draft.

You may need to enter the reversing entry. See "Voiding Paid Drafts" in the JD Edwards EnterpriseOne Applications Accounts Payable Implementation Guide.