AP Wire transfers (Payments to suppliers)

Bert Sternal

Active Member
I searched the archives and the JDE Documentation but couldn't find anything specific to making payments to suppliers via wire transfers. We currently do the transfer outside of JDE and then close the PO manually and do an Item transfer to get the goods received in.

If anyone is currently doing this method any advice that points me in the right direction would be much appreciated.

Thanks in advance
Bert
 
Hmmn,



JDE does some basic stuff for non cheque payments and can create a base
file to be used for sending to the bank but you will need to make some
mods/enhancements to suit your bank and your accounting control
requirements.



Regardless, you can still do the transfer(s) manually through the bank
and cross reference the entry to the payment transaction created in JDE.



Use payment instrument to determine what you are using to pay the Vendor
(eg 'T' but could be whatever you define). Set up the appropriate DWV
versions for the payment process. Process the receipt and voucher match
then pay via 'T' type payment instrument document.



You should also look at using Evaluated Receipt processing to eliminate
the voucher entry and match steps (EV will generate a Payables Voucher
based on what you receipt).



Bert, does this very brief email make sense? Does it help? I know it
works (I have done it). If you want more detail then contact me
"offlist".
 
You may want to look at Accounts Payable Electronic Invoice Presentment and Payment (EIPP) systems that would integrate with JDE and facilitate direct debit (ACH) payments. There are also Accounts Receivable EIPP systems that would let you send invoices to your customers and collect payment via direct debit. I think that you will find direct debit payments to be less costly than wire transfers.
 
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