Payables payment cycle

To finish processing payments in Cash Management, the Payables solution is required to close the payment cycle. The Payables payment cycle consists of these programs:

• Cash requirements:

  Cash requirements must be set up to process either CB payments or both AP and CB payments. You can run cash requirements once for an entire pay group. You can run it several times concurrently for individual Cash requirements process groups within the same pay group. Each time you run this process, you select records for different vendors and schedule those invoices for payment.

• Payment clearing file creation or electronic payment creation:

  After you schedule all of the invoices that you want to pay, run one of the payment creation programs to pay all scheduled invoices. One payment form or payment record is created for each vendor for each combined cash code and payment code in the pay group. Payment output files contain the electronic header and detail files.

• Payables payment close:

  To close the payment cycle, run the payment closing program for an entire pay group or run the program concurrently for individual process groups

See the Payables User Guide for detailed procedures.