Adding or editing payment records

Use this procedure to add or edit check or electronic payment records in Cash Management. Accounts Payable will use these records to create payments during Accounts Payable processing.

  1. Access Payment Entry (CB55.1).
  2. Specify or select required Cash Code, Transaction Code, and Reference No.
  3. Enter basic payment information using these guidelines:
    AP Company

    Specify or select the Accounts Payable company that will process the payment.

    Vendor

    Specify or select a dummy vendor that you set up for Cash Management processing.

    At least one vendor must be set up for all Cash Management payment processing. Although you do not need a separate vendor set up for each payee.

    Amount

    Specify the amount of the payment.

    Post Date

    Specify or select the date the transaction will post.

    Description

    Specify a description of the payment.

  4. Click Bank Info to access Bank Information (CB55.2) to add a payee's bank information to the payment record. This is required for electronic payments.
  5. (Optional) Click Comments to add information that will print on the check remittance.
  6. On the Payee Info tab, specify the payee's name and address information.
  7. (Optional) On the Defaults tab, you can override the pay group and process group default settings from AP company and vendor. You can also select an override company that will override the posting company of the pay group.
  8. On the Distributions tab, specify the General Ledger accounts where you will post the payment.
  9. (Optional) Click the asterisk (*) to access Distribution Options (CB55.3) to add a reference and a description to the distribution line.
  10. (Optional) Click Tax to access Tax (CB55.4) to add tax code and taxable amount for the distribution line.
  11. (Optional) On the User Fields tab, specify user-defined information in the user fields. You can use these fields to specify any data that the user wants to capture for the payment record.

Related reports and inquiries

Action Process
List payment transactions Use Payment Listing (CB255)