Payables Management Jodi Dare and Colin Pich

Session Agenda Document Attach EFT Payments & Remittances Credit Card Processing Tips & Tricks Q & A Payables Management

Document Attach Payables Management

Document Attach Include your IT in your discussion about Document Attachment setup Setup requires a little bit of thought as attachments will; Affect your server memory Will require permissions to attachment folder Do not suggest subfolders within the attachment folder Documents can ‘flow’ from one module to another Documents can be emailed to approvers so they do not require hard copies to clutter their desks

Document Attach Scanning directly to transaction vs. scanning to file location – Microsoft Security hiccups Scanning Multiple Pages Save to file works best Viewing deleted items Acceptable file formats Word PDF Excel JPEG EML

DEMO Payables Management

EFT Payments & Remittances Payables Management

What is EFT? Benefits of EFT Electronic Funds Transfer Means of transferring money from one bank account to another. Benefits of EFT Cost Less expensive than issuing cheques Convenience Cash flow purposes. Don’t have to wait for a cheque to clear the bank. Saves time; no envelopes to mail

EFT File Required to send a test EFT file to the bank to ensure that the document is in the correct format. Contact bank to get specific file requirements. GP comes with pre-defined standard formats Must let bank know file is a test. Minimal charge for testing, however it’s offset by cost saving of not having to issue cheques.

EFT DEMO Payables Management

Enter EFT Banking Information for Vendor Go to Vendor Card Click Remit To: Opens Vendor Address Maintenance Window Click EFT Bank Opens Vendor EFT Bank Maintenance Window Select country and begin to enter information This is the information that populates the EFT file.

EFT File Pathway & EFT Numbering Financial  Cards  Chequebook Hit EFT Bank button on bottom right. Select Payables Options Generate file to a secure location, as it contains banking information. Can also change the EFT Numbering from this screen.

Vendor Email Addresses Used for emailing remittances to vendors who were paid via EFT From the Vendor Address Maintenance window select the icon. From here enter information in the To…, Cc…, & Bcc… fields This is the email address an emailed remittance will pull from.

Emails & Remittances From the vendor card click on the E- mail button in the bottom right hand corner. Opens the Vendor E-mail Options window. Multiple Attachments per E-mail Turn on Forms to Send Set Message IDs for each form Email based on Doc Type Different forms can be sent to different personnel at a vendor.

Reprint Remittances From the Document Inquiry window choose which EFT payment you want to reprint the remittance for. Then click on the Document Number link. Opens the Payables Payments Zoom window. Choose the Re-create Check Stub button to reprint the EFT Remittance

Credit Card Processing Payables Management

Credit Card Payments – Old Way Previously had to enter Credit Card Details into Receipt Number field of Payables Credit Card Entry Window. This was to identify transactions if there is multiple charges for the same vendor on the same date. These details would appear when creating batch to pay a credit card.

Credit Card Payment Updates New to GP 2016 Ability to create Credit Card batch to pay the Credit Card. Chequebook ID changes to Card Name.

DEMO Payables Management

Recurring Payables Payables Management

Recurring Payables These are transactions that occur in a regular frequency; i.e. Monthly or Bi- weekly You set a transaction to be recurring by creating a batch with the same frequency that is consistently recurs by It is the only time GP will allow you to have the same document number repeated You only have to create and save the transaction once, let GP do all the ‘heavy lifting’ after then.

Recurring Payables Transactions SAME VENDOR Two types of recurring transactions; Same amount, all the time, just posting dates change. Different amount, all the time, along with posting date changes.

DEMO Payables Management

Tips & Tricks Payables Management

Cash Flow Calendar Use the calendar to manage your cash flow You can see both incoming and outgoing transactions You can set up a ‘desired’ or ‘what if’ transaction based on inflow or outflow expectations You can drill in to the transactions to see further details This is ALL based on payment terms that you have set up in Receivables and Payables.

Vendor Combiner We all end up with duplicate vendors or two companies who merge together Use the combiner to maintain all transaction history and merge/combiner the transactions together.

DEMO Payables Management

Questions? Payables Management

jodid@prophet.ca or colinp@prophet.ca