Enter supplier payments

Use this to record payments you have made to your suppliers that have not been generated using Payment Processing in Sage 200. The payments are applied to supplier accounts in accordance with their account type.

• For Open item accounts, you must manually allocate the payments to outstanding invoices.
• For Balance forward accounts, the payments are allocated when the period is closed.
• For Automatic allocation accounts, the payments are automatically allocated when the period is closed. The oldest outstanding invoices are allocated first.

Note: You must generate and allocate payments automatically if you want to print cheques or remittance advices for your suppliers.

Foreign currency payments

When you enter a foreign currency payment, you must also:

• Enter an exchange rate.

Note: Exchange rate variations are handled in the Foreign Account Revaluation routine.

• Enter an exchange loss or gain on the transaction, only if you are not using Foreign Account Revaluation.

The loss or gain on the transaction is entered in the Bank Charges area of the window, selecting the Currency Adjustments nominal account.

• Enter bank charges, if applicable. (Bank charges are in the same currency as the bank account.)

If your bank account is in the same currency as the payment you intend to make, e.g. trading with a supplier in the USA and you also have a US Dollar bank account, you can use process the payments, using the Generate Payments option.

• The supplier's account balance is updated (decreased) by the value (including any discount taken) of the payment or payments posted.
• The bank account (for the balance sheet in the Nominal Ledger and in the Cash Book, if used) is credited with the value of the payment.
• The bank account (for profit and loss) is updated with the value of any bank charges , if applicable.
• The settlement discount taken account (for profit and loss) in the Nominal Ledger is credited with the value of the settlement discount, if included.
• The purchase control account (for the balance sheet) in the Nominal Ledger is debited with the value of the payment plus any settlement discount.
• Any currency adjustments are posted, if applicable.
• Transactions are allocated if allocation has been selected.