Payments to vendors can be simply processed as cash, checks, wire transfers; using a credit card for a payment uses slightly different workflows. You will typically make payments to vendors through one of three aACE modules: Purchase Orders, Purchases, or Disbursements
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.
- Enter and open a new purchase order (or navigate to an existing PO record: Accts Payable > Purchase Orders > Quick Search bar).
- At the details view Totals section, click the Payment Due Plus () icon.
- At the Enter Payment dialog, record the necessary details:
- Payment Date — Enter the actual date of the payment (to facilitate auditing later).
- Payment — Enter the amount.
- Payment Method — Mark the desired radial button, then enter any necessary supporting data (e.g. check number).
- Click Apply Payment.
aACE automatically creates a Purchase record and a Disbursement record. To review these related records, click the PO Management tab > Purchases tab > Purchases go-to link > Disbursements go-to link.
Payments from the Purchases Module
When you purchase an item and immediately pay the vendor using petty cash, a check, or wire transfer, you can enter the purchase and payment at the same time. When you apply payments this way, aACE automatically creates a related Disbursement record to log the payment.
- Enter and open a new purchase (or navigate to an existing purchase record: Accts Payable > Purchases > Quick Search bar).
- At the detail view Disbursements tab, click the Plus () button.
- On the new disbursement record, enter the necessary info (see below).
- Click Save and then Post.
Payments from the Disbursements Module
The Disbursements module helps you record payments:
- Navigate to Menu > Accts Payable > Disbursements.
- In the menu bar, click New and select the disbursement type:
- Enter the payment info, including:
- Company: When you select the vendor, the system locates and displays all open purchase records awaiting payment. Adjust or remove these, as needed.
- Payment Method: When you select the method, the default bank account is automatically populated. You can specify a different account, if needed.
- Click Save.