Skip to main content

Notifications

Announcements

No record found.

Microsoft Dynamics GP forum
Answered

Recording Wires/Other Payments in Payables

Posted on by 1,930

We would like to record payments to Vendors - that are paid outside of the GP system. They could be wires etc.

One option is enter a Payables Transaction and then during the data entry enter the amount in the Cash or Checks. Of course if we select  Check we will make up an  internal Check #.

The second option is enter a invoice and then enter a manual payment - this represents 2 transactions and we would rather not do it this way.

My question is are there any issues with using Option 1

Thanks

  • Sunil Chhabra Profile Picture
    Sunil Chhabra 1,930 on at
    RE: Recording Wires/Other Payments in Payables

    We decided to use Option 1 with Cash  - as these are electronic payments, we do not receives invoices.    

  • Verified answer
    twelvestrikes Profile Picture
    twelvestrikes 3,657 on at
    RE: Recording Wires/Other Payments in Payables

    Hi nfpacct

    My preference would be your second method.  In most cases the payment isn't being made at the same time you receive your invoice. In fact, you may receive the invoice in one month but not pay it until the second month or later (assume 30 or more day terms).  This way your expense gets recorded in the correct period.

    If you want to use your first method, why not use the field called cash?  It will open the payables cash entry window where you select the chequebook, date, payment number (take the default) and Document number where you can fill in the payment reference number (wire number, EFT number etc.)

Under review

Thank you for your reply! To ensure a great experience for everyone, your content is awaiting approval by our Community Managers. Please check back later.

Helpful resources

Quick Links

Anton Venter – Community Spotlight

Kudos to our October Community Star of the month!

Announcing Our 2024 Season 2 Super Users!

A new season of Super Users has arrived, and we are so grateful for the daily…

Dynamics 365 Community Newsletter - September 2024

Check out the latest community news

Leaderboard

#1
André Arnaud de Calavon Profile Picture

André Arnaud de Cal... 290,570 Super User 2024 Season 2

#2
Martin Dráb Profile Picture

Martin Dráb 228,683 Most Valuable Professional

#3
nmaenpaa Profile Picture

nmaenpaa 101,148

Leaderboard

Product updates

Dynamics 365 release plans