Shafers.com - Accounts Payable: Disbursements

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Disbursements

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Overview

The Disbursements feature within Shafer's Accounts Payable Module is used for check printing (system checks), check recording (manual or COD checks), reprinting checks and locating details for existing checks (AP Check Inquiry). You will also be able to select vendor invoices for payment, apply credits, hold items and access the AP Check Register. View items due for a selected date, discounts or available credits. You also have access to any missed discounts, and what may be due at the next payable date.

Select the checking account you wish to disburse from and view the current balance of the chosen account. System Checks will evoke the system check screen listing all invoices that are currently due and will automatically recalculate your invoices to receive the proper discount so that your cash management is maximized. Checks, whether manual or system generated, may be voided. If a check is voided, the program will automatically reverse the entries and the invoice will return to a payable status.

· System Checks

View all current payables on a single, easy-to-read screen (see image at right). This screen allows you to select invoices for payment and will evoke the system check screen listing all invoices that are currently due and automatically recalculating any invoices that qualify to receive a discount. Invoices displayed are automatically selected for payment based on the check issue, next issue and due dates of the invoice. Add the next payment date and you can view what may be due on your next scheduled payment processing date as well as any missed discount that fall between your current and next dates.

System Check Processing 00:40

· Manual Checks

The Manual Check feature allows you to record a payment after the check was processed manually or for the convenience of quickly issuing a single check to a vendor and without having to print the check (you may print the check if desired). You will first be prompted by a search engine; from there you can select which vendor is needed. Once a vendor is selected, the screen shown at right will pop-up, allowing you to add or edit entries. The check information entry looks at a vendor’s invoice listing and when selected, changes its status to PAID and applies the payment to the invoice. It also creates a General Ledger posting for the reduction of the AP and cash (bank) accounts.

Manual Checks 00:20

· COD Checks

This option is used to create an impromptu check when an invoice has not yet been posted. Our system will allow you to enter in an invoice and create a COD payment at the same time from one screen providing you with a quick and easy data-entry method. The COD process allows for you to print the check when necessary or to simply record a manual check.

· Apply Credits

Credit memos (credit invoices) can be applied to your invoices as you are selecting them for payment. The invoices and any selected credit memos used in the payment will appear in the voucher list of your check stub for your vendor to clearly see what comprises the check total.

· View Checkbook Balance

Whenever you process a disbursement, you will be shown a checkbook balance. Our smart system will also help you decide, based on your balance, how you want to handle invoice payments. You'll no longer have to view your current checkbook balance prior to processing payments.

· Hold/Select Item to Process

Quickly place any selected vendor's invoices on hold or select all of the vendors invoices for payment processing. Our system will clearly illustrate any invoices that are on hold status to avoid overlooking an invoice.

· Reprinting Checks

Ever have a printer jam in the middle of a check run? Well it's no longer a problem with Shafer's Check Reprinting feature. This function eliminates the need to void checks because of a printer jam or other mishap. You will have two options for reprinting checks: void old checks and reprint with new or reprint existing check number. Reprint a single or multiple checks as the original printed detail appeared.

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