Payments are made against outstanding bill charges from your vendors.
When you
post a payment, you have the option to use the SchoolLeader Check Writer
function that will print the check for you. SchoolLeader
uses standard 3 part checks that are also utilized by the QuickBooks
From the Vendor Folder Billing Account Tab:
Click on the PAYMENT button
Pay To The Order Of: Specify the full name of the Payee. if this is a check, this will print on the top line.
Draw From Bank Account: Select the bank account from which you are drawing the funds. This can change from one payment to the next. SchoolLeader remembers the last Bank you used and will display that account by default the next time you open this window.
Payment Method: (check, cash, etc). If you choose Electronic, the transaction is simply recorded with this payment method. There is no automatic bill paying feature embedded in SchoolLeader as their is on the Accounts Receivable. If you want to perform electronic bill paying you will need to establish this service directly with your local banking institution.
Amount: Enter the amount (the 'current due' amount will already be displayed. You can change this amount to whatever amount you desire).
Payment Date: if different from the Posting Date. The Posting Date is always todays date, however, if you wish to document that a payment was actually received sooner then it was posted, enter that date here.
Check #: Enter the check number (if applicable). SchoolLeader will keep track of the current check# by incrementing it in sequence everytime you pay by check. You can override this number and start a new sequence by overwriting the number displayed in this box.
Memo: Enter any free form notes you want associated with this payment. This will print out in the memo section of any checks you print.
Existing Charges
to Pay - Grid: In the lower part of the payment window, SchoolLeader
will display how the funds received from this payment are getting allocated.
When a
payment amount does not cover the full amount due, funds are allocated
based on the sub-account from each charge and the allocation order defined
in the A/R Chart of Accounts. The
amount displayed will initially represent the amount owed. However,
you can change the allocated amount for the specific items by typing over
the displayed amount field. The
total amount shown at the top will automatically change based on the changes
in the grid.
If you wish to post new charges simultaneously along with the payment,
then press the APPLY NEW CHARGES
checkbox on the left hand side of the grid. This
will allow you to create charges at the same time you post your payment.
This can
be useful if you
are making payment for something unexpected that was not already billed
Print Check:
Click on this button to print the check and post the payment at the same
time. SchoolLeader uses standard 3 part checks identical to those used
by QuickBooks
Click on the MAKE PAYMENT button to post this payment without sending anything to the printer.
Click on the red X button to close this window without posting the payment.
Payments will always be applied to the current accounting period.
Displays the transaction number of the current transaction. This number is automatically assigned by SchoolLeader and cannot be changed.
The Posting Date indicates when the transaction was originally applied to the subledger. This value is automatically assigned based on the computer's system date.
Displays the Userid of the person who originally posted the transaction.