The Check Run screen provides a User with a list of Approved AP Invoices. The User can then apply AP Credit Memos and discounts, create AP Payments, print checks, and produce ACH and Positive Pay exports for selected invoices. Click here for more information on the Check Run Overview.
- Note: An invoice that is to be paid on the Check Run that has a payment method other than 'Check or 'R365 Payments' will use the 'Non-Check #' sequence and suffix from the Autonumbering setup screen.
Step 1: Open the Check Run and select the Legal Entities (Locations) from which the AP Invoices will be loaded to be paid. Multiple Legal Entities can be selected.
Step 2: Select the Checking Account that will be used to pay the AP Invoices. The default Location on the Checking Account will set the Location on the Check Run. Change the Location if necessary. Set the Payment Date that will appear on all payments.
When the ‘Bank Account’ is selected, the ‘Next Check Number’ field will be auto-filled. Check numbering for printed checks within the Check Run will start with this number. If needed, a User can manually change the ‘Next Check Number’.
- Note: When the Check Number is manually updated, the 'Next Check Number' on the Bank Account is not updated. As the Next Check Number on the Bank Account auto-increments, any manually-entered Check Numbers will be skipped.
The 'Non-Check #' sequence and prefix from the Autonumbering screen will be used If an Invoice has a Payment Method other than 'Check' or 'R365 Payments'. If no 'Non-Check #' sequence number has been entered in Autonumbering, a generic text label is used.
- Printed Payments. Once the Checking Account has been selected, the starting check number for this Check Run will be the number in the 'Next Check Number' field
- Non-Printed Payments. If entering payments that will not be printed, the User has the option of entering text in to the 'Next Check Number' field such as 'ACH'. Doing so will produce a warning stating that payment numbers will not be incremented and will all have the same payment number
- Note: When using the R365 Payment Service, a check number of 'R365' is temporarily assigned. When the payment is processed by the service, this number is usually updated automatically.
All payments created on this Check Run will have the same value in the 'Payment Number' field.
Step 3: Filter invoices by priority to help determine the invoices that should be paid first to maximize cash flow.
Step 4: In the Invoices grid, select which invoices are to be paid by clicking the checkbox on the invoice line.
Step 5: To view further details for one invoice, click the invoice line to select the Invoice (the line will be highlighted based on the Restaurant365 Theme Builder color. Orange highlight below are related to Contract Price Verification) and open the Detail pane (click the < to open the Detail pane).
1) Check Memo - The first field contains that Default Check Memo, which can be set on the Vendor record and will populate this field each time the Vendor is paid
2) Suggested Discount - If this Vendor offers a discount for early payment and the payment days fall within the discount date range, the Suggested discount will be listed
3) Discount Account - Discounts will be recorded in the discount account that is selected, which is also set on the Vendor record
4) Discount Taken - This field does not need to be updated unless the value will be different than the suggested value. Discounts will be automatically applied when available
Step 6: View and Apply any open AP Credits to Invoices being paid. Click here for more information on Applying Credit Memos.
Multiple payments to the same Vendor can also be created during one Check Run with different Payment Dates on each payment. This is based on the Payment Date.
If multiple checks need to be created with different Payment Dates, manually update the Payment Date value in the invoice line that needs the change. All invoices with the same Payment Date will go on one check, with any other Payment Dates going on separate checks.
Step 7: Verify the Checks that are about to print under the 'Check List Preview' tab.
Step 8: Submit for Approval. Click 'Submit for Approval' to mark this Payment Run as finalized and ready for higher level Accounting Admin Users to view and approve.
Note: If a Payment Run is not ready to be submitted, it can be saved and later retrieved by opening the Check Run screen, selecting the saved run in the 'Saved Run' selector, making the necessary changes, and then submitting for approval.
Step 9: Review and Approve. From the Payment Runs page, Users can then review and approve the Check Run. Click here to learn how to review and approve a Check/Payment Run.
Step 10: Create Payments. Open the Check Run from the Payment Runs page and click 'Create Payments'.