HiFinance
4
SECTION
2.3.4.2.5 - UPDATE & REMITTANCE CREDITOR PAYMENTS BATCH
USAGE: To apply the payments batch and print remittance
advices. This update option is used by those companies that wish to manually
write cheques, but wish HiFinance to automatically update the Creditor files.
The remittance advice’s can then be used as a basis for writing out the
cheques.
Note: You should print the remittances first, and then
match the cheques to the report. HiFinance will not necessarily apply
cheque numbers to Creditors in alphabetic order. Also, if you miss a remittance,
all your cheques will be out by one.
DISCUSSION: When you start the UPDATE CREDITOR PaYMENTS BATCH
program, the computer will ask you to enter the starting cheque number. This is
the first cheque number used (inclusive). HiFinance will then update every
non-zero entry on the payments batch file using one cheque number per Creditor.
This function will print a remittance for each
Creditor paid. The format of the report depends on the options set in SYSTEM DEFAULTS. When complete, the
batch payments file will be deleted and you will be returned to CREDITOR BATCH PAYMENTS MENU.
Files updated by the Creditor Payments program:
Creditor
master-file: The Creditor’s balance will
be decreased by the total of the WILL
PAY and DISCOUNT TAKEN fields.
Creditor
transaction-file: A receipt
transaction is created to match the total value.
General
Ledger master-file: The Trade Creditors,
Cash-at-Bank and Discounts Taken accounts are updated.
General
Ledger transaction-file: A
transaction is posted for each transaction line.
Bank
master-file: The Bank master-file is
updated to reflect the fact that there has been a change of balance and that
there is a bank deposit slip pending.
