Creditor Payment Proposals

Owned by Kat Grinter, created
Last updated: Apr 20, 2024 by Helen Johnson
3 min read

Creditor payment proposals allow you to select all accounts payable within your specifications in a file to upload to your bank. It also creates a journal ready for approving and reconciling against the bank account.

ON THIS PAGE YOU WILL FIND:

ON THIS PAGE YOU WILL FIND:

GETTING THINGS READY

CREATING THE FILE

  • Go to the finance & administration module > creditors sub menu > creditor payment proposal

  • Click the create payment proposal button

 

  • Depending on how your creditors are set up, you can select your payments based on certain specifications:

    • Payment method - this is a setting in your creditor

    • Currency - this is useful for eliminating international payments

    • Include payment due until - this is the final date you want to be able to select AP until

    • First payment date - This is the date you will be paying all of the creditors. Also select ‘Fix payment date’ to make them all the same date

    • Payment group - this is set up in your creditor settings

    • Creditor - you can select one creditor or all

 

 

If you need any amendments to the payment details on a creditor, this can be done in the creditor list by selecting the creditor and going to the show properties icon in the top right corner.

 

  • Select your payment proposal > and go to payment lines

  • You can now see your payment lines

  • Here you can select which payments to include

  • Once prepared, you must click Approve to download your bank file (see below)

 

NAVIGATING THE PAYMENT PROPOSAL MENU

 

NUMBER

FUNCTIONALITY

NUMBER

FUNCTIONALITY

1

Reset the payment proposal to add back in all lines that were deleted

2

Delete selected lines (highlighted lines by using ctrl+click)

3

Delete unselected lines (this removes the unticked lines all at once)

4

Send for approval

5

Remove approval so that you can make changes

6

Save the payment proposal and download the file

7

Open general ledger - once approved, select a line and it opens up a pop-up to see what effect this line has on the general ledger

8

Open creditor card - view the creditor settings

9

Update payment dates - if the payment has been delayed, you can update the date here

COMPLETING THE PAYMENT

  • Now that you’ve downloaded the payment file you can upload to your bank

  • The payment proposal has created a journal with all of the payments included


Failed

  • If any items failed > go back to the payment proposal > and remove the approval

  • Make your changes > then re-approve

  • This cancels the original journal and adds the new one in

Successful

  • If everything was successful > approve the journal

  • All the payments will appear in your bank reconciliation, ready for matching

We recommend only approving the journal once all the payments have successfully gone out of the bank.

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