What is the best way to record vendor activity for amounts that are automatically withdrawn from our bank account by the vendor? I want to keep a clean record of all vendor payments, regardless of how they were paid.
Is the best way to voucher the activity in Transaction Entry, then record the related payment via Manual Payments? If so, how do you prevent these vouchers from appearing in reegular A/P check or EFT payment batches? Do you set up special payment terms, such as "manual"? Is there a way to "turn off" check and EFT payments for a vendor and only allow manual payments to be recorded?
Or, is there a better way?
My predecessor used to voucher everything and print checks weekly, then void these checks. That is not efficient!
We could simply record a bank transaction entry in the GL to record the expense and the cash outlay. But, that doesn't update the A/P sub-ledger.
Looking forany and all insight you have.
Thank you!
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