Mark for Payment
Paying Invoices with the Mark for Payment screen
The mark for payment screen will allow you to “manually” select the invoices that you want to pay. There are multiple filters that you can choose to mark and pay only those invoices that have to get paid. Once any items are on the screen you can sort due or discount date to view the items that you should pay to take advantage of early payment discounts..
TIP: You may limit the loading of the mark for payment items to a specific checking account number. The default for this value is the default checking account number as defined in the configuration program under the A/P Setup tab. This is so that multiple stores that are sharing a common database location can quickly work with a single checking account number. This typically corresponds to a single store location, but can also be a shared account for multiple stores.
Mark as Paid by Credit Card
You also can use the Mark for payment screen to record entries that have been or will be paid by a credit card, and will not have an A/P check issued for them. This helps you to still maintain history in the Accounts Payable under the vendor payment history even though you don’t write a check to the vendor. The entry is NOT added to the check register and is NOT noted in General Ledger. These entries will take place when you write a check to the credit card company.
Sub Expense Credit Card Entries
When paying credit card bills you will have many accounts that will have to be debited. To do this you should either sub expense (see below) or make entries into the quick check to the proper G/L accounts or make a Journal Entry to disburse the charges on the credit card to their proper accounts.
To Sub expense items like credit cards that have multiple accounts to be booked, you should debit the entire credit card expense to a holding or contra account and then one at a time reduce this amount by using the Sub-Expensing break out the chart for each of the separate accounts that need to be debited. This way the check that you write to the credit card company has one entry on the check stub but in reality, all of the expense items are booked correctly.