Friday Feature - Year End Payments

The last few weeks I wrote quite a bit about searching, reporting, and managing your data in Escape Online. Now, I would like to focus on your year-end tasks – making last minute payments, setting up next year’s requisitions, and closing last year’s requisitions (carrying over and accruing). This week I am going to focus on making those last minute payments. It is a busy time of year, so there are a lot of invoices coming in that need to get processed as quickly as possible.

There are two activities you can use: the Payments activity and the Enter Payments activity (more like a batch). Most of our customers seem to like the Payments activity because the workflow is quick and easy, so I am going to use that activity for this article

The Payments activity is like most of our other activities, in that you click New, enter your data, and then click Save/New to open another new form, ready for input. And, it does all the fancy footwork, like when you enter a reference number (requisition number or PO, you make the call), Escape Online fills in all the details, as in vendor Id, requisition comment, bank Id, item count, items received, received amount, requisition total, and unpaid amount from the requisition into the form. Phew. That’s a lot of automation.

Sure, it is all quite fancy, but the really cool thing about the Payments activity is how the Payment Amount field works. You don’t just enter a number and then try and figure out the distribution by yourself, manually. No, no, no. We help you out. This is how it works:

  • If you enter a full, partial or negative amount, Escape Online distributes the amount automatically: first to the liability accounts with unused liability amounts, then to the other accounts based on the percentages defined in the requisition.
  • If you enter zero (and this is what I really like!), Escape Online doesn’t distribute the amounts; instead, it creates a list of all the associated accounts so you can determine which accounts get which amounts. This is super fantastic for partial payments of requisitions that need to be distributed differently than the requisition because there are lots of items for lots of different locations, and the items are being shipped slowly, but surely, painfully, separately.

Another valuable year-end feature is that the Payments activity automatically knows today’s date and puts the payment in the correct fiscal year, no matter what the requisition’s fiscal year is. This is not only a time saver, but a frustration reducer. You are too busy to be bothered with filling out fiscal years, when the system already knows all of the dates.

So, let’s start paying all those bills, and next week I will tell you all about setting up requisitions for bills to be paid next year!