Payments

Purpose

There are different ways to record payments to GL accounts but the most efficient way in FA is through the GL payment system. Payments to suppliers, miscellaneous purchases, etc. can be entered here. The Quick Entries method is the fastest way to enter simple, reoccurring payments.

Procedure

From the main menu:

1. Click on the GL-FMS tab.
2. Click the Payments option.
3. Under the From drop-down list, select the Bank Accounts from which the payment is to be deducted.
4. Under To, select the payee from the drop-down list to whom the payment should be made.
5. If the Miscellaneous payee was selected enter the payee's name; otherwise, select the payee from the drop-down list.
6. Enter the name To the order of which the payment is being done (if the payment is Miscellaneous)
7. Enter the Account code or select the Account Description through Drop-down List
8. Select the Dimension of the item for which the payment is made. It defines whether the item is Raw Material, Semi-Finished, Rejected etc
9. Select lot of the item from Dimension 2 drop-down list, whether it is from Summer Collection Women, Winter collection women, Summer Collection Men or Winter Collection Men.
10. Enter the Amount of the payment
11. Click Add.
12. Enter any notes in the Memo field.
13. Click Process Payment when finished.

Tips and Tricks

• Always view your GL posting to make sure that your entry was posted to the right account(s).
• The amount is posted as a credit to the account set in Bank Accounts for the bank selected in the document.
• Use Payments to Suppliers if you want to reconcile the deposit with supplier invoices.