Improved Payment Cycle

A payment cycle can be completed without first needing to print a check remittance.

You can select the following printing options within the Accounts Payable module:

• Print checks and remittance advices combined on pre-printed stationery
• Print checks and remittance advices separately on different stationery and/or printers
• Print only remittance advices

• Print nothing at all (useful for electronic payments as remittance advices are often not sent when paying via EFTs)

• You can either configure the payment cycle printing requirements at company level for all banks (Setup Options > Configuration > Financial > Accounts Payable) or at bank level (Banks).

• The selected printing requirements are then also displayed on the Bank Query program.

• All printing configurations should be done prior to creating and running the payment cycle, as the payment run checks the printing requirements configuration and prints accordingly.

Printing requirements can be setup in various ways:

Program	Description
Setup Options > Configuration > Financial > Accounts Payable	Configure the printing requirements on company level, to apply the setup to all banks in the company. If the configuration is done on company level, the page layout for printing checks and remittances is specified in the AP Check Format program. In the Checks section, enable the Checks not required field to print remittance advices only. Disable the Checks not required field to print both checks and remittance advices. Previously there were two radio buttons in the Checks remittance section of the AP Check Format program, namely a 'Remittance only' button (equivalent to the enabled Checks not required field) and a 'Both check and remittance' radio button (equivalent to the disabled Checks not required field).
Banks	Configure printing requirements per bank, which means the printing preferences can be configured differently for every bank.
AR Payment Run	If you are making electronic payments and neither want to print checks nor remittance advices, select Generate EFT numbers to generate EFT numbers without printing remittance advices. Once the EFT numbers are generated, the payment cycle and the individual released invoices are updated to status Printed. If you want to print a remittance advice, you can still do so by using the AP Check and Remittance Print program. Previously EFT numbers were generated by running the AP Check and Remittance Print program, which generated EFT numbers and printed EFT remittances. With these changes implemented, the printing of EFT remittances is no longer required.