Create Payable EFTs

Create check and EFT transactions to pay outstanding invoices for contacts with bank accounts.

Select Activities>Create Payable EFTs. Outstanding invoices for contacts with one or more accounts set up on the Banking tab will appear in the window. All outstanding invoices are listed in Activities>Create Payable Checks. Data in the grid can be sorted by clicking on a column title.

Bank Account—Checks will be issued from the bank account that is selected at the top of the window.

Balance—This is the balance in the selected bank account. It includes all printed and unprinted checks.

EFT Clearing Account—This is the that will be credited to zero each check out and debited on each EFT transaction. (Select the account in the Create Payable EFTs Options.

1. Enter the Check Date. The system date will be entered by default.
2. Select invoice(s) for payment.
   • Select an invoice item to pay by clicking in the Pay box for the item. To deselect, click again.
   • Select all parts of an invoice by double-clicking on the invoice number in the Invoice Number column. All parts of that invoice will be marked for payment. To deselect, double-click again.
   • Select all invoices for a vendor by double-clicking on the vendor name in the Vendor column. All parts of that invoice will be marked for payment. To deselect, double-click again.
3. When you have selected all items to be paid, click Create Checks. A check with the number Print will be generated for each vendor to be paid. When multiple invoices are being paid to a single vendor, each invoice will be listed on the check stub. When invoices are partially paid, the paid amounts will be removed and the outstanding amounts will remain. There will also be a credit to the EFT clearing account for the full amount of the check to bring the total to $0.00. A check with the number EFT will also be created with a debit to the EFT clearing account. Review or delete the checks in Activities>Quick Check.

Note: Select Reports>Report List to print the checks. Select Activites>ACH Direct Deposit to create a NACHA file for upload to your bank or third part provider.

Cancel—Aborts all changes and closes the window.

Outstanding—The total amount of outstanding invoices, whether selected to pay or not.

Vendor—This shows the total to be paid for a particular vendor. Click on a vendor in the Vendor column to see the total amount to be paid to that vendor from all rows. In the screenshot above, the cursor is in the row for Allied Supplies; therefore, the Vendor total shows the total of all invoices which have been selected to pay for Allied Supplies.

Pay—This box shows the combined total of all rows selected to be paid.

Customize the columns in the grid to suit your business requirements.

• Invoice Number—This shows the invoice number that was entered in the Enter Payable Invoices window.
• Vendor—This shows the vendor that was associated with the invoice.
• Invoice Date—This is the date that was recorded for the invoice.
• Due Date—This is the due date that was recorded for the invoice. 
• Outstanding—This is the unpaid balance the invoice.
• Pay—A selected row will be paid when the Create Checks button is clicked. One check will be issued for each vendor and will include all rows that have been selected for the vendor.
• Delete—A selected row will be removed when the Create Checks button is clicked. One General Journal entry will be created for each vendor and will include all rows that have been selected for the vendor.
• Account—This is the Lookup for the bank account on the Contact Banking tab.
• Gross Amount—This amount is, by default, the same as the Outstanding; however, you can enter a different amount to make a partial payment.
• Discount Account—By default, this column is hidden from view. To show the column in the window, use Column Configuration. Only enter an account number here if you are discounting an item and posting it to a Discount Account other than the one selected in Activities>Quick Check>Screen Options. If a Discount Account is not entered here and a Discount has not been selected in Screen Options, (leave the Quick Check>Discount Account option set to Default), the discounted amount will be posted as a deduction to the Account for the item.
• Discount—Enter any discounts for the item.
• Deduction—Enter any reductions for the item. (Deduction amounts will be posted as reductions to the Account for the item).
• Net Amount—This is the calculated amount that will be paid for each row. The calculation is: Outstanding amount, minus the Discount amount, minus the Deduction amount.
• Adjust—Enter an amount in the Adjust column to reduce the amount of the invoice item. Adjustments will post to the account the item is posted to.
• Memo—The memo entered on an invoice or payroll check is displayed here. This field may not be edited.

Screen Options

EFT Clearing Account—Select the desired account from the drop-down list. This is the that will be credited to zero each check out and debited on each EFT.