Check Processing

Each check processing cycle begins with a Cash Requirements report. For this report you enter the check date for the current cycle, the date of the next check cycle and the maximum check amount to be printed. The Cash Requirements report lists all unpaid invoices by vendor and extends only those that are due before the next check cycle or those that must be paid in the current check run to earn available discounts. Invoices with due dates or discount dates after the next check processing cycle date are listed, but excluded from the cash required extension.

If the proposed disbursements require changes before the checks are actually created, use the Edit Pay Status function to change the disbursements. Disbursements may be edited by vendor or by invoice. Pay status options include Normal (take discount if paid within the discount period), Take Discount (even if payment does not fall within the discount period), and Hold or Dispute the invoice.

After the checks are created, the Preview Checks List shows each check that will be printed. Once checks are created, if some records are incorrect you can use the `Checks Approval/Revision' function to delete or renumber ranges of check records prior to printing the checks. The entire check cycle can be cleared and restarted using the `Clear All Checks and Restart' function and then rerunning Checks Creation. After checks are printed, the `Checks Approval/Revision' function allows you to approve, delete, renumber, or void and cancel one or more checks. This can be done on multiple ranges of checks any number of times during a processing cycle. The `Clear All Checks and Restart' function can also be used to restart the cycle after checks are printed, or any other time before the checks are posted.

The Checks Journal provides a detailed audit trail of the checks printed during this cycle and is required before posting.

The Checks Register report lists the checks that were printed by check number and shows the vendor receiving the check as well as the check amount and date. The final step in the check processing cycle is to post the checks, which updates your master files.

Cancelled checks are entered from your bank statements and then listed on a Check Reconciliation report. If Accounts Receivable is part of your system, the Checks Reconciliation report lists your cash deposits in addition to cancelled and outstanding checks. This report is extremely useful when reconciling your bank accounts.