Partial Payments: Process Activity

The following activity will walk you through the process of creating and releasing a partial payment of an AP bill.

Story

Suppose that in January 2024, Blueline Advertisement provided advertising services to the SweetLife Fruits & Jams company in the amount of $5,500 and an AP bill was entered in the system. On January 30, 2024 the company wants to partially pay this bill.

Acting as a SweetLife accountant, you need to register a partial payment of $1,100 for the advertising services.

Configuration Overview

For the purposes of this activity, the following features have been enabled on the Enable/Disable Features (CS100000) form:

• Standard Financials, which provides the standard financial functionality
• Multibranch Support, which supports multiple branches in your instance of MYOB Acumatica
• Multicompany Support, which supports multiple companies within one tenant.

On the Accounts Payable Preferences (AP101000) form, the Hold Documents on Entry check box has been selected in the Data Entry Settings section.

On the Vendors (AP303000) form, the BLUELINE (Blueline Advertisement) vendor has been defined. This vendor has the CHECK payment method specified as the default one.

Process Overview

To register a partial payment in the system, you will manually create the partial payment on the Checks and Payments (AP302000) form, apply the payment to a bill, and then release the payment and its application. On the Journal Transactions (GL301000) form, you will review the generated GL transaction, and on the Checks and Payments form, you review the application history of the payment.

System Preparation

To prepare the system, do the following:

1. Launch the MYOB Acumatica website, and sign in as an accountant by using the following credentials:
   • Username: johnson
   • Password: 123
2. In the info area, in the upper-right corner of the top pane of the MYOB Acumatica screen, make sure that the business date in your system is set to 1/30/2024. If a different date is displayed, click the Business Date menu button, and select 1/30/2024 from the calendar. For simplicity, in this activity, you will create and process all documents in the system during this business date.
3. On the Company and Branch Selection menu, also on the top pane of the MYOB Acumatica screen, make sure that the SweetLife Head Office and Wholesale Center branch is selected. If it is not selected, click the Company and Branch Selection menu to view the list of branches that you have access to, and then click SweetLife Head Office and Wholesale Center.

Step 1: Creating a Partial Payment and Applying it to a Bill

To create a partial payment and apply it to a bill, do the following:

1. Open the Checks and Payments (AP302000) form.
   Tip: To open the form for creating a new record, type the form ID in the Search box, and on the Search form, point at the form title and click New right of the title.
2. On the form toolbar, click Add New Record, and in the Summary area, specify the following settings:
   • Type: Payment
   • Vendor: BLUELINE
   • Application Date: 1/30/2024 (inserted by default)
   • Application Period: 01-2024 (inserted by default)
   • Payment Amount: 1100
   • Description: Partial payment for advertising services
3. To select the bill to which the payment will be applied, on the Documents to Apply tab, click Add Row, and in the row, select the following settings:
   • Document Type: Bill
   • Reference Number: The bill with Advertising services in the description and the amount of $5,500
4. On the form toolbar, click Save to save the payment. Notice that the balance of the bill applied to this payment is now $4,400, as shown in the following screenshot.

Step 2: Releasing the Payment

To print the and release the payment, do the following:

1. While you are still on the Checks and Payments (AP302000) form, on the form toolbar, click Remove Hold.

   Notice that the status of the payment has changed to Pending Print.

2. On the form toolbar, click Print/Process.
3. On the Process Payments / Print Checks (AP505000) form, which is opened, notice that the system has added a row with the payment and selected the unlabeled check box for it. On the form toolbar, click Process.

   A separate browser tab is opened showing a printable version of the selected payment.

   Tip: In a production setting in which you are printing actual checks, you should validate the value in the Next Check Number box. This number should match the number on the blank check you are going to use for printing the checks.
4. Review the printable version of the payment, and close the browser tab. (For the purposes of this activity, you do not need to actually print the check. In a production setting, you would click Print on the form toolbar to print the check before closing the browser tab.)
5. On the Release Payments (AP505200) form, which is opened, notice that the system has added a row with the payment and selected the unlabeled check box for it. On the form toolbar, click Process.
6. In the Processing pop-up window, which is opened, click the Processed tab.
7. Click the link in the Reference Nbr. column to open the released payment on the Checks and Payments form.

Step 3: Reviewing the Generated GL Transaction and Payment Application

To review the GL transaction generated by the system and the application history of the payment, do the following:

1. On the Financial tab of the Checks and Payments (AP302000) form, which is opened, click the link in the Batch Nbr. box, and review the created GL batch on the Journal Transactions (GL301000) form, which the system opens.
2. On the Application History tab of the Checks and Payments form, click the link in the Reference Nbr. column and review the bill balance on the Bills and Adjustments (AP301000) form that opens.

   Notice that the bill retains the Open status because it has not been paid in full.