Paying a Vendor

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.

  1. Enter and open a new purchase order (or navigate to an existing PO record: Accts Payable > Purchase Orders > Quick Search bar).
  2. At the details view Totals section, click the Payment Due Plus () icon.
  3. 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).
  4. 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. 

  1. Enter and open a new purchase (or navigate to an existing purchase record: Accts Payable > Purchases > Quick Search bar).
  2. At the detail view Disbursements tab, click the Plus () button.
  3. On the new disbursement record, enter the necessary info (see below).
  4. Click Save and then Post.

Payments from the Disbursements Module

The Disbursements module helps you record payments:

  1. Navigate to Menu > Accts Payable > Disbursements.
  2. In the menu bar, click New and select the disbursement type:
    • Vendor Payment — Pay vendor invoices (see below for details)
    • Refund — Issue refunds to customers
    • Other — Log payments directly to a GL account (e.g. record checks printed for sales staff commissions)
  3. 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.
  4. Click Save.