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Occasionally we have one ACH payment that is distributed to several vendors. It is easier to do this because we sent up a template on our banks website and just send the whole transaction at one time. The bank statement then shows just one ACH transaction.
How can I post this in GP so that it shows only one Bank Transaction, but posts to all of the vendors separately?
Thanks
Sorry for not replying sooner. Here is what we do now and how we handle it and an option we could use.
1. Here is the situation. We need to make recurring payments to a group of payees. We do this through our bank where we set up a template that has 6 payees in it. This takes the funds from our bank account and sends them to the 6 payees. This is automatic and very efficient. The problem is that it only creates one entry on the bank statement for reconciliation. In GP we need to pay 6 invoices on the 6 payees.
2. What we do now is create the 6 invoices through a recurring batch and apply a payment to each one. That creates 6 transaction in CM for the bank reconciliation. We just reconcile those 6 against the one from the bank.
3. There are two ways we see that we could do this differently. Not sure either is easier.
We could do the payments right through GP with the electronic payments. I think this would create 6 transactions at the bank and 6 transactions in GP.
The other thing we can do is set up a "Credit Card" in GP and make the payments with the credit card and then pay the credit card. This seems to involve more work.
Do you have any additional ideas or does that pretty much cover our options?
Thanks
Hello Bob,
Thank you for your question on the Forums today. My name is Brandon. I am an engineer on the Microsoft Support team.
First, let me make sure i understand your process.
With my understanding of your process, i don't see how this would work. We cant apply a Payment from one Vendor to another Vendor. We don't have any National Account functionality in Payables Management so i don't see how you could apply one Payment to multiple Vendors.
With the above, if you are only doing one ACH Payment, how are you getting multiple transaction in the Bank Rec? One Payment would only have one record that would update the Bank Rec. Is there a different process you are using to apply to the Vendors? Are you creating multiple checks but modifying the the ACH file to only be one when you submit it to the bank?
Currently, the only way i see possible to get one Bank Record is to only do one check. There is no functionality to have multiple checks update once in the bank rec. Each transactions posts to the Bank Rec.
You would need to look at creating a customization or possibly a third party if you would like functionality to have multiple checks only create one record in the Bank Rec for all checks.
I look forward to hearing more about your process and determining if there are any further options that might be work for you.
Thank you!
Brandon Jarrett | Microsoft Support Engineer
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