Vendor Entry Pay Invoices Due Report overview

Vendor > Entry > APE Reports > APEP

Function acronym: APEP

Use this report to pay all invoice scheduled payment records that qualify to be paid and subtracts the discounts available for the ranges selected.

If scheduled payment records qualify but are paid past the discount cutoff date, an asterisk prints next to the discount amounts lost.

For each scheduled payment record paid, General Ledger accounts are affected for the invoice and discount amounts. A journal number is assigned each time you run this function. All checks to be printed are associated with this journal number. During Vendor Entry Check Print Report, specify the correct journal number to print the correct checks. You can also use the Vendor Entry Pay Invoices Due Report to print individual AP checks per vendor invoice as required. You must select the One Check Per Invoice option in the Billing section of Vendor Setup to activate this functionality.

Note:  Journals that are opened via the reporting service, such as in GL Transaction Entry and Vendor Entry Pay Invoices Due Report, will not process if the operator has a journal open. Only one journal can be open per operator during these processes. The system reports an error condition and submits an error to the reporting service error log. You must reschedule the report and rerun any associated group.

Because the Vendor Entry Pay Invoices Due Report uses the same options as Vendor Cash Requirements Report, printing the Vendor Cash Requirements Report first allows verification that the correct invoice scheduled payment records will be paid and the proper discounts are taken without actually updating Accounts Payable. If the report does not print as desired, the discount cutoff date and due cutoff date can be adjusted to obtain the desired amounts in the current and future columns.

You can run the Vendor Cash Requirements Report as many times as necessary before running the Vendor Entry Pay Invoices Due Report. After Vendor Cash Requirements Report is run for as a stored report, no new invoices to be processed will be added. You will be processing only invoices that were previously selected for that Job Name. This prevents adding an invoice after the original invoices have been approved, and thus getting paid without the necessary approvals.

Note:  When you run a previous Vendor Cash Requirements Report, you cannot change the Job Name/Number. This information will default from the Vendor Cash Requirements Report that was run before you ran the Vendor Entry Pay Invoices Due Report.

If you created a stored report in Vendor Cash Requirements Report and used that report's job name to run Vendor Edit Payment Selection Entry, you will also be able to use this updated stored report in the Vendor Entry Pay Invoices Due Report. When you are ready to run the Vendor Entry Pay Invoices Due Report, select the Vendor Cash Requirements Report from the saved reports list and tun it as a stored or one time copy. You will be asked to convert the Vendor Cash Requirements Report to a Vendor Entry Pay Invoices Due Report. This report reflects changes made in Vendor Edit Payment Selection Entry. Use the same parameters so that the Vendor Entry Pay Invoices Due Report will generate the same results as the Vendor Cash Requirements Report/Vendor Edit Payment Selection Entry.

If you use a stored Vendor Cash Requirements Report and attempt to change some of the parameters, the changes are ignored. For example, if a stored report is used to determine the cash requirements and those records are then used to print checks, the options in the Vendor Entry Pay Invoices Due Report are ignored. If you then want to change a range or an option, you must re-run the Vendor Entry Pay Invoices Due Report and repeat the process. After processing the Vendor Entry Pay Invoices Due Report, the stored Vendor Cash Requirements Report is deleted.

Note:   If you choose not to select a stored report when running the Vendor Entry Pay Invoices Due Report, you could pay all or some of your vendors accidentally. This message is displayed if you did not select a stored report: Warning: No Stored Report Selected. All Due Vendors/Invoices Will Be Paid Message 8047.

Accounts Payable Update

  • For each scheduled payment made, the vendor current balance is decreased.
  • Vendor Payments YTD, Discounts Taken YTD, Discounts Lost YTD, and Last Payment Date balances are updated.
  • For each SA Currency Setup scheduled payment made, the Payment Date, Amount Paid, and Discount Amount Taken values are updated.
  • As each SA Currency Setup miscellaneous credit is applied to current invoices, they will be inactivated. If part of a miscellaneous credit is not applied because it was more than the total current invoices due, a new miscellaneous credit transaction is created for the remaining amount.
  • All payable updates are in the vendor's currency.

General Ledger Update

  • The AP Control account is debited for the gross amount of each scheduled payment transaction.
  • The AP Bank account is credited for the net amount of each scheduled payment transaction paid unless you are using divisionalized accounting. If you are using full divisionalized accounting (select the Divisional option in SA Company Setup), then the system looks in the Vendor Setup record to determine which bank number is used for the vendor. The system then checks the bank record in CR Bank SetupThe system assigns a journal number each time you run this function. All checks to be for that division's General Ledger bank account.
  • The AP Discount account is credited for the discount amount taken on each scheduled payment transaction paid.
  • All General Ledger updates are in domestic currency. If the paid invoices are in a foreign currency, they are converted to domestic currency prior to updating General Ledger.

Foreign Currency

If your vendor's invoices are expressed in foreign currency, these updates are made to General Ledger:

  • Vendor Transaction Entry

    The expense or inventory account is debited for the gross amount of each transaction. The voucher exchange rate set up in SA Currency Setup is used to determine the domestic equivalent.

    The AP Control account is credited for the gross amount of each transaction. The voucher exchange rate is used to determine the domestic conversion.

  • Vendor Entry Pay Invoices Due Report

    The AP Control account is debited for the original amount of the invoice, based on the voucher exchange rate.

    The AP Cash account is credited for the new voucher exchange rate if the Purchase Draft option in SA Currency Setup is not selected. If the Purchase Draft option is selected, the new purchase exchange rate determines the amount of the credit.

    If a discount exists, the AP Discount account is credited at the same exchange rate as the cash account.

    The account specified in the Gain/Loss GL # field in SA Currency Setup is credited for the difference between the new exchange rate and the original exchange rate.