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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Does Manual Payment ha...
Finance | Project Operations, Human Resources, ...
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Does Manual Payment have to applied to an invoice?

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Posted on by LucyP 30

Hello,

I have a question about manual payments...

Lots of times in our company invoices are being posted after bank rec is done.

To balance the checkbook I often times use Bank Transaction to records the payments which results in multiple open invoices remaining in the system...

Would it be correct to record manual payment and then when the invoice is posted apply payable document to it?

What if I end up not getting an invoice- will the manual payment without being applied invoice still be a correct for to record the payment?

Will this effect the bank rec?

Or is there a better way to close an invoice without voiding it?

Thank you

Lucy

Categories:
Microsoft Dynamics GP
I have the same question (0)
  • Joseph Markovich Profile Picture
    Joseph Markovich 3,976 on at
    RE: Does Manual Payment have to applied to an invoice?

    Hi Lucy-

    So, are your vendors requiring you to pay before you have an invoice from them?

    Are you paying vendors electronically, paper checks or credit cards?

    The Manual Payment feature in Payables is meant for you to record a payment to a vendor, but you did the actual paying outside of GP (ACH transfer, wire transfer, cash, credit card or you wrote out a paper check). This manual payment is what affects Bank Rec.

    Manual Payments also update the history of the vendor -- amount paid this year, last year, life to date.

    Once you enter and post the manual payment to the vendor, you apply this payment to the open invoices in Payables for that vendor.

    If you don't receive an invoice from the vendor, you are going to have the manual payment showing as not fully applied (there will be a balance remaining to apply to something) and will show up on the vendor inquiry screens and aging reports.

    I hope this helps a bit.

    Joe

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