In CINC, paying an invoice is called posting. When you post an invoice, its status changes from Ready for Payment to Paid.
Follow these steps to pay an invoice in full:
In CINC, go to Vendors > Invoices.
OR
In CINC with universal navigation, go to Payables > Invoices > Invoices.
The Invoice List page displays. Search for and select the appropriate association.
Select Ready for Payment from the Status drop-down list and then click Refresh.
Before selecting invoices to pay, review the following:
Resolve any indicators and review any notes to determine if action is required before payment.
Check the bank account balance shown for each association to confirm sufficient funds.
Notes:
Selecting invoices reduces the displayed balance, and negative balances do not prevent posting.
The bank account balance is based on GL activity, not your true bank balance.
Select the checkbox next to the invoice(s) to pay.
Select the Post For date, if applicable.
Notes:
Post For denotes the day the invoice was paid. The invoice posts with today's date by default. If the paid date should be a day other than today's date, select the correct date in the Post For field. The Post For date can't fall in a closed fiscal period. Pay special attention if you have multiselected invoices and need to use the Post For date.
For accrual accounting, GL activity is created when the invoice status is changed to Ready for Payment based on the invoice date.
For cash accounting, GL activity is created when the invoice is paid. Use the Post For date to change the date paid.
Pay close attention to invoices paid by EFT. The Post For date should match the date of the transaction at the bank.
Click Post.
Once an invoice posts:
The Invoice Status changes to Paid.
The system creates a bank account entry in the Bank Account Register.
If paying by check, a check becomes available in the check printing client.
If paying by ACH, the system initiates an ACH file for processing.
If paying by CINC VendorPay, payment details are transmitted to AvidXchange. AvidXchange includes the information on the payment and remittance details sent to the vendor on the Invoice History page.