Vendor Payments for a Project: To Process a Payment for Multiple Bills

In this activity, you will generate a payment for multiple bills for a project and apply this payment to bills.

Story

Suppose that the HM's Bakery and Cafe requested 20 hours of employee training on operating juicers. SweetLife's project accountant has created a project to track the revenues and expenses for these services. Further suppose that the SweetLife project manager then decided to contract the Squeezo Inc. vendor to conduct the training.

On January 15, 2024, the SweetLife project accountant entered the first bill it received from the Squeezo Inc. for 12 hours of the employee training. Then on January 25, 2024, one more bill from Squeezo Inc. was received (and entered by the project accountant) for 8 hours of the provided training services. The vendor has requested that both bills be paid with one payment by the end of the month. Acting as SweetLife's project accountant, you need to pay the bills related to the project with one payment.

Configuration Overview

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

• Standard Financials, which provides the standard financial functionality
• Projects, which provides the project accounting functionality

On the Customers (AR303000) form, the HMBAKERY customer has been created.

On the Projects (PM301000) form, the HMTRAINING project has been created for the HMBAKERY customer, and the TRAINING project task has been added to the project.

On the Non-Stock Items (IN202000) form, the TRAINING non-stock item has been configured, which represents one hour of the training service.

On the Vendors (AP303000) form, the SQUEEZO (Squeezo Inc.) vendor has been configured, and the CHECK payment method is specified as its default one.

On the Bills and Adjustments (AP301000) form, two bills for the training services provided by SQUEEZO have been entered and released.

Process Overview

You will find the bills related to the project and requiring payment on the Prepare Payments (AP503000) form. Then you will prepare a single payment for these bills. Finally, you will print the check on the Process Payments / Print Checks (AP505000) form and will release the payment on the Release Payments (AP505200) form.

System Preparation

To prepare the system, do the following:

1. Launch the MYOB Acumatica website, and sign in to a company with the U100 dataset preloaded. To sign in as a project manager, use the following credentials:
   • Username: brawner
   • 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 on the calendar. For simplicity, in this activity, you will create and process all documents in the system on this business date.

Step 1: Selecting the Bills to be Paid

To select the bills to be paid, do the following:

1. Open the Prepare Payments (AP503000) form.
2. In the Selection area of the form, specify the following settings to filter the data shown in the table:
   • Branch: SWEETEQUIP (inserted by default)
   • Payment Method: CHECK
   • Cash Account: 10200EQ - Equipment Checking
   • Payment Date: 1/30/2024
   • Project: HMTRAINING
3. In the table, review the two AP bills of the SQUEEZO vendor for the amounts of $480 and $320.
4. Click the unlabeled check box in the row of each of the bills, and make sure the Selection Total in the Summary area is $800. Also, make sure that the Available Balance is enough to pay this amount.

Step 2: Preparing the Payments

To prepare the payments, do the following:

1. While you are still on the Prepare Payments (AP503000) form with the needed rows selected, click Process on the form toolbar.
2. On the Process Payments / Print Checks (AP505000) form, which is opened with the only AP payment listed in the table and the unlabeled check box selected, click Process. A separate browser tab is opened showing the printable version of the check.
3. Review the printable check, which includes two bills, and close the browser tab.
   Tip: For the purposes of this process activity, you do not need to actually print the checks. In a production setting, you would click Print on the form toolbar to print the checks before closing the browser tab.
4. On the Release Payments (AP505200) form, which the system has opened after it printed the check, notice that the system has added a row with the payment and selected the unlabeled check box in the row. On the form toolbar, click Process to release the payment.
5. In the Processing dialog box, which is opened, click the Processed tab, and click the link in the Reference Nbr. column for the SQUEEZO payment to open the payment on the Checks and Payments (AP302000) form.
6. On the Application History tab of the Checks and Payments form, make sure both bills to which the payment has been applied are listed in the table, as shown in the following screenshot. The payment amount has been applied in full, so the payment is now assigned the Closed status.

   
   
   

You have prepared the payment and applied it to bills related to the particular project.