Record a Wire Transfer

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Expand/Collapse item  Overview

Use this procedure to record a wire transfer and, if the invoice has not been updated to the Open Invoice file, to distribute the wire transfer amount to the appropriate general ledger accounts. If you are entering an invoice that is not on file, you can use an expense distribution table to distribute the wire transfer amount.

Expand/Collapse item  Before You Begin

The Enable Wire Transfers check box must be selected in Accounts Payable Options.

 

To use an expense distribution table, the Enable Expense Distribution Tables check box must be selected in Accounts Payable Options and a table must be set up in Expense Distribution Table Maintenance.

 

 

To record a wire transfer

  1. Select Accounts Payable Main menu > Manual Check and Payment Entry.
  2. Select Wire Transfer in the Payment Type field. The Check No. field will be populated with a system generated wire transfer number and can only be viewed. For more information, see Manual Check and Payment Entry - Fields.  
  3. Enter information in the appropriate fields. The transfer date, amount, and vendor number are required.
  4. Click the Lines tab and enter the invoice information in the appropriate fields.

    5. To use general ledger distribution, perform the following steps.

    Note If the invoice is already updated to the Open Invoice file, the invoice amount is already distributed to the appropriate general ledger accounts.

  1. Click the Create G/L Distribution button.
  2. In the General Ledger Distribution window, in the G/L Account field, enter the general ledger account number. For more information, see General Ledger Distribution - Fields.

Note To create assets based on the invoice line, enter an asset account in the G/L Account field and select a template in the Asset Template field.

  1. In the Amount field, type the distribution amount.
  2. If you are distributing the amount to multiple general ledger accounts, repeat steps b and c to distribute the check to the appropriate general ledger accounts. Click Accept.
  3. To create another general ledger distribution line, repeat steps a through d.
  1. Click Accept.

The wire transfer is recorded. Print and update the Manual Check and Payment Register.

 

To record a wire transfer using an expense distribution table

  1. Select Accounts Payable Main menu > Manual Check and Payment Entry.
  2. Select Wire Transfer in the Payment Type field. The Check No. field will be populated with a system generated wire transfer number and can only be viewed. For more information, see Manual Check and Payment Entry - Fields.  
  3. Enter information in the appropriate fields. The transfer date, amount, and vendor number are required.
  4. Click the Lines tab and perform one of the following.

To let the system assign an invoice number:

  1. Click the Create G/L Expense Distribution button.
  2. In the Expense Distribution Table window, in the Expense Distribution Table field, enter a table code. For more information, see Expense Distribution Table - Fields. Click OK.
  3. In the General Ledger Distribution window, verify that the information is correct and make changes if needed. For more information, see General Ledger Distribution - Fields. Click Accept.

To manually enter an invoice number:

  1. In the Invoice No. field, type an invoice number. When the message appears asking if this is a new invoice number, click Yes.
  2. In the Exp Dist Table field, enter a table code.
  3. Move to the next line.
  4. In the General Ledger Distribution window, verify that the information is correct and make changes if needed. For more information, see General Ledger Distribution - Fields. Click Accept.
  1. In Manual Check and Payment Entry, click Accept.

The wire transfer is recorded. Print and update the Manual Check and Payment Register.