Purchases > Preparing electronic payments
To process an electronic payment
Go to the Purchases command centre and click Prepare Electronic Statements. The Prepare Electronic Payments window appears.
Select Pay Bills from the Select Payment By list if it is not already selected.
Type a date in the Date field to display unpaid cheques up to and including that date.
Use the Journal Memo field to record the purpose of the transaction.
If the values are correct, click Process and Record to transmit the transactions for approval.
After the transmission, an Approval or a Declined status appears in the Status column for each transaction in the list. For each declined transaction, a Processed Electronic Payments window appears with a code and description of the reason the transaction was declined, as well as a transaction ID, date, card name, and the amount of the transaction.
An approval status indicates only that the initial authorization was successful. There is an additional period of 72 business hours in which the funds are accessed, the destination account is identified, and so on. During this period and through this process, the potential still exists for the payment to fail. Click Get Update to open the Online Error Notification window where any transactions that fail during this processing period are listed.
If the transaction appears in the Online Error Notification window, you should reverse it and handle the payment in a different way. You can select and reverse a transaction directly from this window by clicking Reverse. Then open the Prepare Electronic Payments window, select the payment reversal (a negative number) from the list of payments by clicking the select column (), and click Record Only.
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