Forum Discussion

New2AR's avatar
New2AR
2 years ago

Bulk Electronic Payments in Account Right

Hi, when preparing bulk electronic payments in AR is it best to do it from the Banking or the Pay Bills (Purchases) section?
  • Mike_James's avatar
    Mike_James
    2 years ago

    Hi New2AR , the Pay Bills screen is for recording a payment of supplier bills. The Spend Money screen is for recording other payments unrelated to suppliers. Both of these screens have the option to create an electronic payment. 

     

    With that option selected, the payments will be recorded as paid from the electronic clearing account. All such payments will then appear for selection on the "Prepare Electronic Payments" screen. Payments processed on this screen will be transferred in total from the clearing account to the cheque account, and a file of these payments will be created that can be uploaded to your banking software.

Mike_James's avatar
Mike_James
Ultimate Cover User

Hi New2AR , the Pay Bills screen is for recording a payment of supplier bills. The Spend Money screen is for recording other payments unrelated to suppliers. Both of these screens have the option to create an electronic payment. 

 

With that option selected, the payments will be recorded as paid from the electronic clearing account. All such payments will then appear for selection on the "Prepare Electronic Payments" screen. Payments processed on this screen will be transferred in total from the clearing account to the cheque account, and a file of these payments will be created that can be uploaded to your banking software.

Genreve_S's avatar
Genreve_S
MYOB Moderator
2 years ago

Hi New2AR, 

 

Thanks for posting and welcome to the Community Forum. 

 

It is as Mike_James has explained, Pay Bill transactions, Payroll Transactions, and Spend Money transactions can all be a part of the electronic payment process. However, the only way to process these bulk transactions to your bank account ledger is from the Prepare Electronic Payment window. 

 

I recommend reading these articles, Making Electronic Payments Directly and Making Electronic Payments with a Bank File. 

 

Let us know if you require any further assistance with this. We're happy to help. 

 

Thanks,
Genreve

 

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