MKMS Help

Paying Bills

This Help File Page was last Modified on 11/21/2012

Paying Bills

This Help File Page was last Modified on 11/21/2012

Previous topic Next topic  

Paying Bills

This Help File Page was last Modified on 11/21/2012

Previous topic Next topic  
As we all learn at some point in our lives, if we don't pay for what we buy, they won't sell us anything else.
So we Pay Bills on time to the best of our ability.
The general process of Paying Bills is to request that the Check for (or some other form of) Payment be created within the Accounts Payable System, and then actually print (if appropriate) one or more of these Checks, when desired.

 

The MKMS Accounts Payable System provides five ways to determine which Vendors need to be Paid, and how much will need to be Paid to them.  These reports are:
1.Accounts Payable Summary - Provides a list of the Vendors which are owed money for outstanding Invoice(s) and may be used to quickly identify what Bills, if any, are Past Due.
2.Cash Requirements Report - Based on a specified date, the report will list each Bill that is Due to be Paid on or before that date.
3.Bills on Payment Hold Report - This report will list any Bills identified as not to be Paid,  for some reason, until they are manually "cleared for payment" based on a resolution to that non-payment issue.
4.Recurring Purchases Preview - This report will list all Recurring Purchases for which Bills will be received in a specified month, thereby providing a preview of Bills that will soon come Due.
5.Vendor Ledger Card - The ledger card lists all transactions for the currently selected Vendor.
This report is not available if a Vendor Information Form is not open.

 

The Accounts Payable System also provides multiple ways to actually Pay Bills:
Payments - The Payments Form provides a quick and easy method to order the creation of a Check (or other form of Payment) for some or all of the balance owed to a Vendor, or post a previously made Handwritten Check, and/or to request a Check for an advance Deposit (which are simply Payments that have not been applied to a Bill).
Disbursements - This Form lists all outstanding Bills, by default in the order they are due, and provides an easy Check and Pay process.
Auto Pay - This procedure will automatically generate the Invoices for, and then Pay (create Checks for), the Recurring Purchases for a specified month.

 

Once you have identified what Invoices are to be Paid, and then marked them for Payment, (except for E-Pay and Handwritten Checks) you will need to actually Print Checks.