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Supplier Payment

Document 103317/1

Entered Mon, 26 May 2003 16:35 by
Updated Mon, 7 Nov 2005 15:26

This option is used to enter manual supplier payments, to pay multiple suppliers use the Supplier Payments option.

See General Transaction Notes for details about entering transactions.

Go to the Transactions menu, select Accounts Payable-Payments.

Select the most current batch or create a new batch.

Enter the supplier (standard name/number lookup available/press F1).
Once the supplier has been entered all their current outstanding invoices will be displayed for payment.

Cheque Number:
Enter cheque number details or type DIRECT CREDIT, or another form of payment. This will appear on the Bank Reconciliation.

Payment Date:
Enter the payment date. It is important that this date is entered correctly, otherwise the payment might not appear on the bank reconciliation.

Bank Account:
Select the bank account the payment is being made from, this will default to your main bank account. The default can be changed, see Utilities - Transaction Definitions.

Amount Paid:
Enter the amount paid in local currency less any bank charges.

Payment Charges:
Enter any bank charges for this payment (usually applies to foreign currency payments only). The amount paid + payment charges = the total payment made.
This field is only displayed if you have a bank charges account specified, see Utilities - Module: Accounts Payable.

If the value paid varies slightly from the amount due enter the adjustment value here, this is treated as a discount (+/-) from the supplier. This will effect the total applied.
This field is only displayed if you have a supplier discount account specified, see Utilities - Module: Accounts Payable.

Exchange Rate:
For foreign currency suppliers you will need to enter the payment exchange rate.

Total Applied:
This field shows the total applied, this takes the amount paid (plus any adjustment) and converts it to the suppliers balance currency. If this amount varies you can enter the amount being paid in the suppliers currency. If the value varies by more than $10 the system will display a warning. Check your figures have been entered correctly.

The narration will appear on screen enquiries and some reports.

Select Invoices for Payment

Now that you have entered the payment details you must select the invoices being paid. Press the 'Auto Apply' button to pay the oldest invoices first. Press the 'Unapplied' button to create a zero value invoice and have the remaining balance applied to that.

Press 'Save' once everything has been entered and selected correctly.

Cancelling a Supplier Payment

If you need to cancel a payment that has been made to a supplier you can enter a supplier payment for a -ve value. You won't be able to re-instate the invoices that were paid on the original invoice. It is recommended that you create an unapplied payment, this creates a zero value invoice and applies the credit balance to that.
Document 103317/2

Updated Thu, 24 Feb 2005 17:00

To do this follow these steps:

  1. Enter a -ve payment.
  2. At the stage where you must select the invoices to apply the payment to press the 'Unapplied' button. This creates the zero value invoice and applies the payment to it.
  3. Save the payment.
If you are re-issusing another cheque then enter another supplier payment and apply that payment to the zero value invoice that has just been created.

To cancel a cash payment see Cancelling a General Ledger Cash Payment.

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