A common practice for managing Creditors is to:
- Load the creditor’s invoice
- Do not approve the invoice payment
- When you receive their Statement, verify the transactions and as you do, approve the payment
- This will show a running total of the credit’s amount due and you can verify every transaction
How to Set Up Approvals
There are two settings available at:
- Go to Platform > Creditors > Work with Creditors
- In the top menu, select Options > Set Approved Amount
GLOBAL OPTIONS
These apply to everyone and override individual settings.
If you want to manage Creditors individually, set Global Settings to ‘Automatically approve for all creditors’
Default approval amount is zero for all creditors means that every Creditors Invoice loaded, will require approval.
SUPPLIER SETTING
Settings here will only apply if Global Settings are not ‘Default approval amount is zero for all creditors.
How to Approve an Amount
Click on the button to the right of the Invoice under the ‘amt approved’ column.
How to Edit an Approved Amount
Click on the button to the right of the Invoice under the ‘amt approved’ column.
How to Edit a Creditor's Invoice
- Select the invoice with your mouse.
- You have the option to ‘Edit the Particulars’
- If you select Cancel, the option is to delete the invoice. Delete the invoice and re-enter the details.