Checklist: Processing AP Checks and EFT Payments

Follow the A/P Checks and EFT Payments Processing Checklist to generate accounts payable checks and EFT payments.

Before you process checks and electronic funds transfers (EFT) payments for accounts payable vouchers, you must set up default payment terms, liability codes, vendor codes, and discount codes. You also need to select the check template settings for accounts payable checks on the Accounts Payable tab in Configuration > Accounting > Company AP.

A/P Checks and EFT Payments Processing Checklist

Step	Description
1	Enter new vendors in the Vendors Info Center.
2	To pay a vendor by electronic funds transfer (EFT), you must pay the vendor by paper check until you: Set up EFT payment information: On the NACHA File Format tab in Configuration > Accounting > Banks for the bank or financial institution from which the payments are made. On the Accounting tab in Info Center > Vendor, for the vendors who will receive EFT payments. Run a test direct deposit, as described in the next step.
3	For vendors to be paid by EFT, complete these steps to run a test direct deposit: In the Vendor Info Center, select Add in the Status field of the EFT section on the Accounting tab. Run a test direct deposit. Vision changes the vendor's Status to Wait. Send the file to the bank for testing. When the bank tells you that a vendor's account information is valid, you must manually change the vendor's Status to Active before you can process an EFT payment for the vendor.
4	Enter new vouchers to be paid later. Enter A/P disbursements (enter and pay vouchers in one step).
5	Review the Accounts Payable vouchers that remain unpaid, on either the Vendor Review form or the Voucher Schedule report.
6	Review the Cash Requirements report.
7	In Vendor Review, modify data for the vendor address, payment date, or bank as necessary. Release, hold, or modify any vouchers that remain unpaid. You must complete this step before you process payments.
8	To process both check and EFT payments, select an existing run or create a new run in Accounting > Accounts Payable > Payment Processing.
9	Process payments by either of these procedures: Process Manual Select Payments Process Automatic Payments
10	If vendors are set up to be paid electronically by EFT, they are included in the payment processing run with paper check payments. To put them in a different run, you must select from the EFT options on the General tab on the A/P Payment Processing form. Checks for EFT payments have "NON-NEGOTIABLE" printed on them.
11	Preview checks before printing them to verify that they are correct.
12	Print the checks. If you create a text (.txt) file, this step is not necessary. Continue by assigning check numbers.
13	Review the checks that are printed in the run.
14	Assign check numbers.
15	If applicable, use the Export to Text option to create a .txt file.
16	Print a file copy of the checks, if necessary.
17	Post payments.
18	If a posted A/P payment run includes vendors who are paid electronically, finish the EFT procedure. To do this, select Accounting > Accounts Payable > EFT, and use the Process option on the Accounts Payable Electronic Funds Transfer Processing Form to: Process the run for EFT payees. Create the EFT .txt file in the format you specify to send to the bank or financial institution, in Configuration > Accounting > Banks.