Payments

The categories of creditor payments are:

Creditor cheque payments - This method is used to print remittance advices and or to create EFT Bank Files. The liability must exist before the payment can be recorded. - for computer prepared or manually written cheques where the payment is allocated directly to purchase and creditor invoices.
Other creditor payments - This option is also used to record payment of non stock creditor accounts e.g. telephone, electricity etc. - to record such transactions as bank charges and periodic payments or where cheque number referencing is not required. The amount is allocated once the form has been activated.
Cash Book Payments – Creditor payments can also be made through Cash Book Payments. The payment can be allocated to the outstanding invoices if required. A discount for early payment can also be entered and allocated to the invoices (Refer to General Ledger Cash Book Payments module)