Standard Payables

Use this option to create and update accounts payable records that are due on a regular basis, such as rent or utility payments. A standard payable is one that you process with some frequency and that has key information, such as the vendor, accounting distribution, and amount that is always the same.

For example, payments such as monthly rent or office machine leases are usually the same every month for a fixed period of time. You can create a standard payable, add it to a template, and post the payable without having to re-enter it each time it is due.

Similarly, you can create a standard payable for a payment that you regularly make and that only varies based on the payment amount. For instance, utilities payments are made monthly, but the amount varies based on usage.

When you create a standard payable record, you add it to a template. A template is a group of standard payables identified by a control number. Using the control number, you can post a group of standard payable records to Fund Accounting all at once.

This way, if you have several standard payables that are due at about the same time, you can generate their records in Fund Accounting with one button-click. The payables are posted, and you can then issue vendor checks for them.

Menu Path: Fund Accounting > Entry & Processing > Payable Entry > Standard Payables

Standard Payables Pages

Your work with the Standard Payables option centers on four pages, the main Payable Templates page detailed earlier, the Template Payable page, the Template Entry page, and the Payable Template page.

Each of these pages is described in its own section. Following are brief descriptions of how these pages are used:

Payable Templates Page	Lists existing standard payable templates. You can access a listed template, create a new one, print the Template Payables Edit List, or post a template's standard payables to Fund Accounting.
Template Payable Page	Lets you search and list the standard payable records in a template. You can then access a listed standard payable record to review and, if needed, update. You can also add new standard payables to the template and delete records you no longer need.
Template Entry Page	Lets you add a standard payable to a template. This is also the page you use to create a new template.
Payable Template Page	Displays information for an existing standard payable record. You can change the standard payable record in this page.