A new menu item called Scheduled Payments has been created. This new functionality will enable sites to set Cash Payments to Suppliers up to run on a schedule, saving time for Operators that have to input regular Supplier payments. For example: Subscriptions, where a Direct Debit agreement has been made with the Supplier to have payments applied on a set cycle.
To create a record navigate to Banking > Maintenance > Scheduled Payments.
Tick new before setting the ID. Once an ID is set, Users can key in detail of the payment into the Details section (this detail will reflect in the Banking and on the Creditor).
Enter the Supplier ID number and the system will auto fill the Name field.
Select the Cycle of the payment, choosing one of the options below:
- Weekly
- Fortnightly
- Monthly
- Quarterly
- Half Yearly
- Yearly
Continue to enter information for:
- Expiry Date (optional): this will indicate when the Payment Schedule will cease
- Next Date: this will indicate when the next Payment is due to be applied. This field will automatically update once the system has created the Payment based on the cycle selected
- Amount: this is the value that has been agreed upon to be applied
The system will check and process any Scheduled Payments due (based on Debtors Date) every time a Banking screen is accessed (Cash Receipts, Cash Payments, Bank Reconciliation etc) and also when ‘Month / Year End Reset Sales’ is run.
When the system checks for payments, the Next Date will be validated against the Banking System Date, as well as the Creditors Date. An invalid date will warn the user, skip the payment and the User can continue on and address the record at their ready.