Using the Vendor Payments Window
You can use Vendor Payments for any of the following situations:
- You need to write a cheque for the outstanding amount payable.
- You need to delete an outstanding payable dated prior to your current open months that was entered incorrectly when your company was set up with MultiLedger Canada.
- You need to make an adjustment or write off an outstanding payable.
Vendor Payments Field Descriptions
This section describes the fields on Vendor Payments.
Cash Acct
The default cash account assigned on Interface Accounts is shown. You can change the cash account by clicking the account number or name and selecting a new account from the pop-up list.
Disc/Adj Acct
You can change the discount or adjustment account by clicking the account number or name and selecting a new account from the pop-up list. If no account is shown, click to the right of the Disc/Adj Acct label and select an account from the pop-up list.
This account can be used to record vendor discounts or to reverse an original payable, and is typically not the Accounts Payable account. Once you’ve selected an account as the Disc/Adj Acct, you can change the account, but you cannot remove it.
Cheque #
Enter a document number up to eight characters long to identify the cheque. The last character must be a number.
After the cheque is saved, the cheque number (or the last number of a combination of characters) is increased automatically by one.
Cheque Date
Simply type over the highlighted day or use the +/- keys on your keyboard to increment/decrement the date. You can enter a date from the 30 open months, provided the month isn’t locked, in the form MM/ DD/YY.
Total Paid
As you apply payments, the Total Paid field shows the total for the cheque. When you save the cheque, the Total Paid amount decreases in the account selected for Cash Acct.
Total Discount
As you apply discounts, the Total Discount field shows the total discount for the deposit. This will be the total amount recorded to the account you selected in the Disc/Adj Acct field.
Cash Balance
This field shows the current general ledger balance for the selected Cash Acct.