Businesses often find themselves in a position where they are dealing with many suppliers at once, and they will have many supplier invoices falling due for payment at the same time. For this reason businesses will often establish an accounts payable procedure where accounts payable are reported, examined and acted on once per month. 

We have already covered Accounts Payable Reporting, so how can Ardex help your business with processing a large volume of supplier payments all at once? The answer is the “Bulk Payments” function in Finance. Open this function now to preview supplier invoice selection options available. You will note that you can use either EFT or Cheque as payment method in bulk payments.

You will note that you can select payments to be processed on the basis of how many days have elapsed since the supplier invoice date in the “Preview Options” box, or just display all overdue accounts. You must select a Bank account to pay from, then click “Preview” to generate a list of supplier bills for payment.

Put a tick next to those supplier bills you wish to pay and select either cheque of EFT as the payment method. Make sure that you have bank details entered for any suppliers you are paying by EFT. Ensure that the next cheque number available is entered in the “cheque start at” box, and cheques drawn will be sequenced from this number up. 

You will notice that the Total EFT and Total Cheque totals update at the bottom of the screen as you set-up payments. Payment type for each supplier will default to whatever you selected last time you made a payment to them, saving you time. A list of possible payment issues will be displayed at the top of the screen, for example “no payment type specified”.

When you are satisfied that everything is correct you may print a list of your bulk payments, then click Process. Accounts Payable balances for the suppliers paid will be reduced accordingly, bank transactions representing the bulk payments will be recorded and you will now be able to generate remittance advices, printed cheques and EFT export files for the suppliers paid.

https://intercom.help/ardexpremier/en/articles/3623874-printing-cheques-remittances

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