Managing the payables

You can specify payables, i.e. the amount of money that the company must settle at a given due date. Creating a payables journal per bank is not required.

To access this screen, go to Banking > Payables.

Important

You must create a payable journal per bank.

1 To do so, go to Tools > Setup > General setup > Accounting > Cash journals > .
2 Specify the information about the journal.
3 Under the Bank details section, carefully fill in the accounting account field that will be used for creation and payment entries of the draft.
4 Select Payable under the Journal type section.
5 Save.
1 Go to Banking > Payables > .
2 Fill in the fields about the payable.
3 Save.

At this stage, you can charge your payable on the relevant invoice(s) or wait for the draft payment.

An accounting entry is automatically created once the receivable is saved.

This step enables you to generate the payment entry. It consists in creating an undefined third-party disbursement on a bank journal.

1 From a payable record sheet, go to Edit > Pay the draft. The Accounting tab is displayed. An undefined third-party disbursement is created with the EF Bank draft type, with a charging that suggests an entry with a debit line for the 403000 account (defined on the payable journal).
2 Click on at the top right of the screen to specify the reverse entry in the relevant bank account, then save.

After charging, you get:

  • A receipt matching your payable.
  • An undefined third-party receipt matching your draft payment.

You can then charge the draft on your purchase invoice, from the draft's Charging tab.

3 From the payable record sheet, go to Edit > Print the draft to publish it.

Note

To be able to publish the payable, you must have set up a Bank draft report template.

1 Go to Banking > Batch reports and batch processing > Payables > Edit > Payables list.
2 In the window, specify the due date and check the box if you need a subtotal.
3 Validate.
4 From the search results of the payables list, right-click and select Multiple drafts payments.
5 Specify the accounting parameters in the window. This step will create the undefined third-party receipt for all the payables.
6 Click on at the top right of the table to publish multiple payables at once.

Note

A standard report template is available.