Paying a Vendor

Payments to vendors can be easily processed as cash, checks, or wire transfers from three aACE modules: Purchase Orders (POs), Purchases, or Disbursements. Remember that these transactions are all contained within the aACE accounting system; there is no integration to your bank account. After processing a transaction in aACE, you must still manually withdraw the cash, send the check, or process the wire transfer.

Note: If you have integrated payment processing, you can use a slightly different workflow to pay a vendor with a credit card.

Payments from the Purchase Orders Module

You can apply a payment to a vendor at the Purchase Orders module. When you apply payment here, the system automatically creates a related purchase record, applies the funds, and closes the records.

1. Navigate from Main Menu > Accts Payable > Purchase Orders, then use the Quick Search bar to locate the desired PO record.
2. At the details view Totals section, click the Payment Due Plus () icon.
3. At the Enter Payment dialog, record the necessary details:
   • Payment — Enter the amount.
   • Payment Method — Mark the desired radial button, then enter any necessary supporting data (e.g. check number).
4. Click Apply Payment.

To review the automatically created purchase record and disbursement record navigate from PO Management tab > Purchases subtab > Purchases go-to link > Disbursements go-to link.

Payments from the Purchases Module

When you purchase an item and want to immediately pay the vendor using petty cash, a check, or wire transfer, you can create the purchase and enter the payment in a single process. You can apply overpayments that exceed the current purchase to other GL accounts.

1. Navigate from Main Menu > Accts Payable > Purchases, then use the Quick Search bar to locate the desired purchase record.
   You can also save and open a new purchase.
2. At the Disbursements subtab, click the Plus () button.
3. At the new disbursement record, enter the necessary payment info (e.g. payment method, etc).
   For details, see the following section on payments from the Disbursements module.
4. Click Save and Post.

Payments from the Disbursements Module

In addition to making payments to vendors, you can use this module to create a new, Other-type disbursement to initiate refunds to customers or to log payments directly to a GL account (e.g. to record checks for sales commissions).

1. Navigate from Main Menu > Accts Payable > Disbursements.
2. In the menu bar, click New > Vendor Payment.
3. Enter the payment info, including:
   • Company — Specify the vendor.
     All open purchases for that vendor are populated in the Purchases list. Purchases with zero Amounts will be ignored; however, you can click the Delete icon () to manually remove a line from the list.
   • Amount — Specify the payment amount.
   • Payment Method — Specify the method.
     The default bank account is populated. If needed, you can manually select a different GL account.
   • Purchases — Click the double-chevron icon () to transfer the total amount from the Suggested Balance column to the Amount column or you can manually enter a partial amount.
     Note: aACE will validate the amounts to ensure the disbursement balances. If needed, you can adjust the amounts. You can also apply overpayments that exceed the current purchase to other GL accounts.
4. Click Save and Post.