This App allows you to split an AP Payment Batch into multiple, separate batches and create a Direct Credit file for each batch.
The App is a useful tool in 'short term Cash-flow control' whereby the bank reconciliation report can be used to monitor the bank balances taking the required suppliers payments into account. Whereas previously the 'Held' Cheques were used to drip-feed payments to suppliers based on availability of cash, the App can do the same if DC payments are now used instead of cheques. By being able to 'split DC batches', the required amount of cash can be paid to suppliers while the balance of unpaid suppliers remain visible in the bank reconciliation report, thus eliminating the need to use separate reports for outstanding suppliers requiring payment, and the cost and availability of employees to generate such information.
This App opens up the ability to have the same information in a Workflow Desktop Panel, making it continually available to Financial Controllers and accountants responsible for Cash-flow control.
- Choose the menu item: Process > Split Payment Batches
- Select the batch you want to change from the dropdown
- Tick the items you want to pay now.
- Click ‘Process’
- The system will then prompt for confirmation… answer ‘Yes’.
- The new payment batch advice will appear….
- On clicking ‘OK’ the ‘Create Direct Credit File’ screen will appear, and you can create the file as normal (or just cancel to get back out and do it later)
- Note: that if you want to pay part of two or more batches, run the process again and ‘append’ the batches in the bank file for the one deposit.
- Once they are split, the two batches will appear in the transactions list for presenting on the bank Statement. Only the second one below would be ‘ticked’ on this bank statement.
- Note that the remaining batch can itself be split again.
- And you can ‘merge’ two or more files into one bank deposit.