Payment Processing

Use Payment Processing to pay vendors for outstanding amounts.

You create accounts payable vouchers in either Transaction Center > Transaction Entry > AP Vouchers or in Accounting > Accounts Payable > Create Voucher from PO.

Through Payment Processing you can:

  • Create and post checks to pay open vouchers.
  • Create electronic funds transfer (EFT) transactions to pay open vouchers. This creates a direct deposit advice form rather than a check and stub.
  • Create a text (.txt) file of data for your check printer or bank, with the Export to Text option.

You can generate payments in two ways:

  • Automatic Payment Processing — The payment run includes vouchers for all vendors who match the criteria you specify.
  • Manual Select Payment Processing — The payments run includes only those vouchers that you specify.

Either way, Vision creates a check or electronic funds payment for the vendor and marks the voucher as paid.

Related Topics:

  • Checklist: Processing AP Checks and EFT Payments
    Follow the AP Checks and EFT Payments Processing Checklist to generate accounts payable checks and EFT payments.
  • EFT Processing for Accounts Payable
    Use the Electronic Funds Transfer (EFT) feature of Accounts Payable to pay a vendor by making a direct deposit to the vendor's account at a bank or other financial institution.
  • EFT Options in AP Payment Processing
    You use the options on the General tab of the AP Payment Processing form to control your firm's EFT (Electronic Funds Transfer) transactions.
  • Pay When Paid Voucher Processing
    If you specify Pay When Paid (PWP) as the payment terms for a voucher, Vision schedules the voucher for payment in the next payment run after the client has paid your firm for the bill that includes the voucher expense.
  • Effect of Posting Accounts Payable Payments
    When you post accounts payable payments, Vision makes multiple entries to the General Ledger and Accounts Payable subledgers.
  • Assigning Check Numbers
    After you print checks, you assign numbers to them. Vision tracks the check number in the posted payment file so that you can monitor your check stock inventory.
  • Procedures - Payment Processing
    You can process payments automatically or select payments for processing.
  • Procedures - Check Processing
    After you process AP checks, you can print the checks and post payments.
  • Screens
    In addition to the AP Payment Processing form, you use dialog boxes to work with AP payments to make partial payments, review balances, bank information, currency overrides, and more.
Parent Topic: Accounts Payable Overview