Recording and Processing Payments
Users have the ability to record payments to a to-be paid invoice. This allows a user to record a credit card, check, or ACH payment to be paid in the future.
First, you need at least one Payment Account. To set up a payment account inside of the system to record a payment to a to-be paid invoice, follow the steps below:
Navigate to Settings > Payables > Payment Accounts. Click the +Add New Account button Name the new account, select a type, enter in all required information, and click Save Type options: ACH, Cash, Check, Credit, Direct Deposit ACH, Wire Transfer.
Once you have your Payment Accounts, you can record or process payments against your approved vendor invoices.
To record a payment to a to-be paid invoice, navigate to Payables > Approve Invoices and choose the To Be Paid tab. Click on the ellipsis next to the invoice you wish to record and select Record Payment.
You need the user permission ‘Pay Vendor Invoices’ to record payments on this page.
In the Record Payment popup, select the Account, enter in a note, and enter a transaction number, then click Record.
Recording a payment against a PO invoice will automatically send a notification to the Vendor that the payment was recorded.
You can also place an invoice On Hold. Placing an invoice on hold will prevent an approved invoice from being paid. A user can release the On Hold status to allow a user to pay the invoice.
To place a vendor invoice on hold or release the vendor invoice, you need the user permission ‘Place On Hold Status’.
Updated 7/30/2024