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Microsoft Dynamics GP (Archived)

How to get ACH payment detail into the general ledger?

Posted on by 200

We have recently switched all company utilities over to ACH payments, this totals about 30 ach payments per week.  Currently we are keying these invoices into accounts payable in GP and then running checks to clear them out of paybles using an ACH check book that was set up.  I was wondering how other GP users making ACH payments get the detail into the General Ledger?

 

 

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  • lrecker Profile Picture
    lrecker 200 on at
    RE: How to get ACH payment detail into the general ledger?

    By doing this can you hit the specific vendor accounts?  We have 83 stores and have all utilities set up on ACH, we still need to hit the utility companies GP vendor account so that we can track charges and research payment history.  I currently download the excel file from the bank every morning and match it up to the vendor invoices that were keyed and then run the "dummy" check from our ACH check book, if we could find a quicker way that would still give us the same audit trail it would be great. We still use GP10.0  would this work with that version?

    Thanks

    Lisa Recker

  • Suggested answer
    L Vail Profile Picture
    L Vail 65,271 on at
    RE: How to get ACH payment detail into the general ledger?

    Hi Lrecker,

    I'm interpreting the ACH payments to mean the utility draws money out of your bank account directly, rather than you submitting a file to the bank telling them to pay the utility.

    I have set some of my clients up to treat this similar to the way we handle charges made to credit cards. Whenever the utility takes the money, there is a record entered into the bank history with the vendor's name so that you know what the debit was all about. My clients use a download from the bank as the source for an integration. We look for the vendor's name (or whatever key value they use on the trx), take it through a translation table, and import the payable (as a paid payable) into the system.

    We use the magic of VB script to pick the relevent characters out of the bank download that we use to translate into the Vendor ID.

    It works like a champ, and no manual input is required. We import these as 'cash' transactions into our checkbook and use the bank's trx number as the number on the cash transaction. That way, it doesn't get messed up with our regular checks, and it's easy to reconcile back to the bank statement.

    Kind regards,

    Leslie

  • Richard Whaley Profile Picture
    Richard Whaley 25,195 on at
    RE: How to get ACH payment detail into the general ledger?

    What version GP are you on?  Can you use lockbox to import the ACH file. then post and apply

  • Catherine L. Profile Picture
    Catherine L. 2,010 on at
    RE: How to get ACH payment detail into the general ledger?

    Hi Frank,

    If using Manual Payments to record an ACH, would you then proceed to post without applying to an invoice as the proper way to issue an ACH?

  • Suggested answer
    Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 4,029 Super User 2024 Season 2 on at
    Re: How to get ACH payment detail into the general ledger?

    One way is to use the Manual Payments in Payables.  it accomplishes everything you're doing now in one transaction and doesn't require printing checks. Manual Payments is typically used to record EFT's, ACH's, wire transfers, etc.

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