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This field displays the selected vendor number and can only be viewed.
Type the account number for the vendor's bank account where the payment will be deposited. After you enter a bank account number, this field can only be viewed.
Select the bank account type.
Note If you change the account type for an existing account and Yes or Approved appears at the Pre-Note Sent field, a message appears asking if you want to continue.
- If you click Yes, the Pre-Note Sent field will be set to No.
- If you click No, the previous selection reappears in this field.
Type a description for the bank.
Type the 9-character routing/transit number for the vendor's bank account. This number typically begins with the four-character transit number, followed by the four-character ABA number and the check digit.
Note If you change the routing/transit number for an existing account and Yes or Approved appears in the Pre-Note Sent field, a message appears asking if you want to continue.
- If you click Yes, the Pre-Note Sent field will be set to No.
- If you click No, the previous routing/transit number reappears in this field.
Select an option to define how the payment will be distributed to the account.
- If you select Percent of Net Amount, the percent entered in the Percent/Amount field will be multiplied by the actual payment amount.
- If you select Percent of Gross, the percent entered at the Percent/Amount field will be multiplied by the total of the actual payment amount plus any discounts.
- If you select Fixed Amount, the amount entered in the Percent/Amount field will be distributed to the account.
You purchase $100 worth of product from a vendor. Your payment terms include a 2-percent discount, so you make a payment of $98. You are distributing the payment to two different bank accounts; bank account A receives 75-percent, and bank account B receives 25-percent. Based on your selected distribution method, your payment would be distributed as follows:
Percent of Net Amount:
- Bank account A receives $73.50, which is the $98 payment multiplied by 75-percent.
- Bank account B receives the remaining 24.50.
Percent of Gross:
- Bank account A receives $75, which is the $98 payment plus the $2 discount (2-percent of $100) multiplied by 75-percent.
- Bank account B receives the remaining $23.
Type a value to determine how much of the payment will be distributed to the account.
- If you selected Percent of Net or Percent of Gross in the Distribution Method field, enter a percentage in this field.
- If you selected Fixed Amount in the Distribution Method field, enter a dollar amount in this field.
This field indicates the status of the pre-note. A pre-note is a zero-dollar credit amount sent to the vendor's bank to ensure that the account is correctly set up for electronic payments.
- When a bank account number is entered, this field is set to No.
- When the Pre-Note Selection Register is updated, this field is automatically set to Yes.
- When the Pre-Note Approval Register is updated, this field is automatically set to Approved.
You can manually change this field if needed; it must be set to Approved to process electronic payments.
Note If the Reset Pre-Note When Renumbering the Vendor check box is selected in Accounts Payable Options, this field will be reset to No if you renumber the vendor using the Delete and Change Vendors utility or the Renumber button in Vendor Maintenance.
This field displays the date that the pre-note was sent or approved; it is automatically updated when the Pre-Note Selection Register and Pre-Note Approval Register are updated, but it can be manually changed. This field is available only if an option other than No is selected in the Pre-Note Sent field.
This field displays the year-to-date total of payments credited to the bank account and can only be viewed. The Deposited YTD total is the year-to-date as of the current fiscal period in Accounts Payable Options.
