Paying Invoices
Paying Invoices
Once an invoice has been approved, it is ready for payment.
Note: If an invoice is not appearing, verify you have the correct filters selected and that ALL approvals are complete.
To pay an invoice:
Select Vendors > Invoices. If you are using universal navigation, click Payables > Invoices > Invoices.
Search for and select the desired association and vendor if applicable.
NOTE: When an invoice is ready to be paid, the Status will be listed as Ready for Payment if there are GL accounts assigned to the invoice.
Review the invoices for the following before determining which invoices should be paid:
Use the legend and colored dots that may be present over the checkbox for each invoice. Make corrections as needed.
Review any notes in red (e.g., Insurance Expired, Vendor on Hold) to determine if further action is required prior to posting the invoice.
Review the bank account balance shown at the top right of the list of invoices for each association to determine if funds are available to pay the invoice.
NOTE: Upon checking invoices for payment, the bank account balance is reduced by the invoice amount. Also, note that a negative bank balance does not prevent the invoice from posting.
Select the checkbox next to the invoice to pay and click Post.
NOTE: If the post date should be a day other than today’s date, select the appropriate date in the Post For field. Keep in mind that the Post For date should not be a date in a closed fiscal period.
Once an invoice is posted:
The Invoice Status is changed to Paid.
GL debit and credit entries are made.
A bank account entry is made in the bank account register.
A check will be available in the check printing client if the invoice was paid by check.
Initiation of an ACH transaction for processing if paying the vendor by ACH (partner bank customers only).
You can still edit certain aspects (like the GL accounts) by viewing the invoice on the Vendors > Invoice List screen. If you are using universal navigation, click Payables > Invoices > Invoices.
NOTE: The Status column also contains approval Information. 1/1 indicates that one approval was required, and one approval given. Click on the 1/1 to determine who approved the invoice for both the Board and the Vendor if both approvals are required.