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Wire Transfer for Vendor

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Posted on by nwhitmyer

Hi!

We have a few vendors that we have set up for payment as a Wire Transfer. We make the transfers separately through our bank portal but I'm trying to figure out how to book it against the invoice we have entered in the system.

I don't need to generate any sort of report for these payments. I know I need to create a payment journal for these however I'm stuck on what Bank Payment Type I should be choosing. My choices are

Computer Check

Manual Check

Electronic Payment

Electronic Payment - IAT

I appreciate the help!

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Purchasing

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Community Member Microsoft Employee on at

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RE: Wire Transfer for Vendor

Hello,

I teach my customers to always use Manual Check and in the External Doc. No. field enter the Wire Transaction No. for audit.

Hope this helps.

Thanks,

Steve
nwhitmyer 20 on at

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RE: Wire Transfer for Vendor

I have a follow-up question. Because I choose blank and am not printing a check these don't show up in the check ledger entries if I needed to void a payment. Is there something I can select that will check the Check Printed box and make these easier to void if I run into that scenario? It doesn't happen often but sometimes some payments get returned from the bank and I feel like there's not an easy process to adjust these
nwhitmyer 20 on at

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RE: Wire Transfer for Vendor

Thanks so much! We are new to BC and I was afraid leaving that blank would trigger some error. Appreciate your help!
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JAngle 33,141 on at

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RE: Wire Transfer for Vendor

Blank is also a valid choice. The others result in specific processing validation which may not be applicable to your scenario.