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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Recording Wires/Other ...
Microsoft Dynamics GP (Archived)

Recording Wires/Other Payments in Payables

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Posted on by Sunil Chhabra 1,958

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

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  • Verified answer
    twelvestrikes Profile Picture
    twelvestrikes 3,657 on at

    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.)

  • Sunil Chhabra Profile Picture
    Sunil Chhabra 1,958 on at

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

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