Scheduled Payables |
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Invoice Checks, Recurring Checks, Recurring Checks as Invoices, Transfer Property Surplus to and Recover Deficits, Distribution Checks and ACH Distribution Batch can be posted from this function. Candidates are displayed and amounts can be changed prior to posting.
Invoices paid to the same vendor can be consolidated onto a single check. A separate check is printed for each Recurring check. When using the Recurring Checks as Invoices function, each recurring check is turned into an invoice, which, when paid through the <<Scheduled Payables, Invoices>> function can be consolidated based on the parameters set in the Check Limit field in the Vendor profile.
Check generation is a two step process. The first step involves setting the selection criteria; compiling a list of candidates; reviewing the candidates and making changes as appropriate; and posting the transactions against the owner/property ledgers. The second step involves printing the check. Printing can be done at the time of posting or later using the <<AP, Print Checks>> function.
During the first step, the balance is used as the basis for determining what checks can be processed. When writing any check but a distribution check, the system uses the Available Cash to determine whether there is enough money in the ledger to post the check. See Owner Distribution Check Calculations to determine how that check amount is calculated. When doing invoice checks and recurring checks, the Base Reserve and Enforce Base in the profile, and the Minimum Base Reserve in Setup, Processing Defaults are taken into account. When doing distribution and ACH checks, the Distribution Reserve and Advanced Scheduling parameters in the owner/property profile and any unpaid payables are taken into account.
Each Time Select the type of check by clicking the radio button This date field, for invoices is the Due Date through which you wish to consider previously entered invoices as candidates for payment. For recurring checks and distribution checks it refers to the Next Scheduled date. Distribution check amounts are determined using the owner’s current balance regardless of the Scheduled Through date. Use this field to select the schedule (weekly, monthly, etc.) for the checks if you wish to limit them. This field is ignored for Invoice Checks. Restrict Payer To - Optional Use this field to select a particular profile for whom you wish to write scheduled checks. The field at the far right is a Restriction box to select the profile set you want displayed in the Find List for the field. Restrict Payee To - Optional Use this field to select a particular profile for which you wish to write a check. The field at the far right is a Restriction box to select the set of profiles you want displayed in the Find List for the field. The payee list can be restricted to a Profile List , primarily for recording ACH transactions for vendors.
Once you have the check parameters set, click on the The check stub details depend on the number of line items on the check. Every line item posts as a separate payable which can be individually skipped or partially paid off when compiled in Scheduled Checks, Invoice Checks.
Up to 10 entries (lines) will be listed separately on the check stub. If the invoices contain fewer than ten line items they will all be listed. If there are more than 10, the first line will have the invoice number and description of the first line item and say "and X more items" Single invoice - fewer than 11 line items - 1 check - all listed Single invoice - more than 10 line items - 1 check – first listed, plus X other items
Multiple invoices can be included on a single check. You can limit the number of invoices that will be included on a check in the Vendor Profile using the Check Limit field. Up to 10 invoices will be listed separately on the check stub. If there are more than that, the following rules apply. Multiple invoices - fewer than 11 line items - 1 check - all line items listed Multiple invoices - more than 10 line items - 1 check: 1st line on stub - 1st line item from 1st invoice plus 3 other items 2nd line on stub - 1st line item from 2nd invoice plus 6 other items Multiple invoices – more than 10 invoices – check limit field blank it will put 10 invoices on each check – if there are any line items on those invoices the line will show the first line item and say "plus X more" Multiple invoices – more than 10 invoices – check limit field set at more than 10 It will list the first 9 invoices and then say "plus X more totaling $XXX"
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next to your choice. Then use the other fields on the screen to define, limit and restrict the check candidates as necessary.
