SECTION 220.127.116.11.4 - UPDATE (ONLY) CREDITOR PAYMENTS BATCH
USAGE: To apply the payments batch without actually printing anything. This update option is used by those companies that wish to manually write cheques, but wish HiFinance to automatically update the Creditor files. Before you update the files, you should have at least printed the update using the LIST function, otherwise the only way of listing the payments required is to use the CREDITOR TRANSACTION REPORTS program.
DISCUSSION: When you start the UPDATE CREDITOR PaYMENTS BATCH program, the computer will ask you to enter the starting cheque number. This is the first cheque number used (inclusive). HiFinance will then update every non-zero entry on the payments batch file using one cheque number per Creditor. If there are no physical cheques, ie you are only paying via EFT, you can enter any number in this field, eg 1.
This function does not print anything. When complete, the payments batch will be tagged as updated and you will be returned to CREDITOR BATCH PAYMENTS MENU.
Files updated by the Creditor Payments program:
Creditor master-file: The Creditor’s balance will be decreased by the total of the WILL PAY and DISCOUNT TAKEN fields.
Creditor transaction-file: A receipt transaction is created to match the total value.
General Ledger master-file: The Trade Creditors, Cash-at-Bank and Discounts Taken accounts are updated.
General Ledger transaction-file: A transaction is posted for each transaction line.
Bank master-file: The Bank master-file is updated to reflect the fact that there has been a change of balance and that there is a bank deposit slip pending.