Use this option to record vendor payments and credit memos. Consider the following when posting accounts payable records:
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You can create accounts payable entries for encumbered purchase order items or for invoices that were not generated from a purchase order.
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You can enter notes, update discount and tax information, and record the receipt of ordered items.
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Based on Vendor List setup, the system can flag a payment as an EFT (Electronic Funds Transfer) transaction.
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If you use approvals, you can select the approval code that applies.
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You can interface non-purchase order payments to Fixed Assets.
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The system controls payments, monitors the budget, and supports project accounting, as described in the System Processing section below.
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You can combine invoices for a vendor on one check.
Menu Path: Fund Accounting > Entry & Processing > Payable Entry > Post Accounts Payable