Payment Cycle Maintenance

Exploring

Where it fits in?

This program lets you create and maintain payment runs when processing payments to your suppliers.

You can create and run several payment runs simultaneously. Each payment run is assigned a unique payment run number and is created for a single bank and payment type.

Payment runs can be single or multi-currency. Single currency payment runs involve a single bank, currency and payment type. Multi-currency payment runs can have a maximum of three different currencies (e.g. a company currency, a payment currency and a supplier currency).

Things you can do in this program include:

Print a list of invoices that require payment.
Release invoices for payment.
Place invoices on hold to prevent future payment.
Print a list of invoices released for payment.
Pay the invoices released for payment.
Print checks and/or remittance advices.
Process EFTs (Electronic Fund Transfers).
Print and reprint payment registers.
Process manually written checks used to pay supplier invoices.
Void checks/EFT payments.

Terminology

Starting

Other considerations

GL Analysis

If the GL analysis required setup option is enabled for a ledger account used in a program, then the Capture GL Analysis Entries program is displayed when you post the transaction, so that you can enter the analysis details.

Care must be taken when enabling account analysis for a ledger code, as the Capture GL Analysis Entries program is automatically loaded each time you process a transaction to an account requiring analysis.
For example:

You may not want to select GL analysis for any of the following:
- Browse on Banks
- Browse on Tax Codes
- Browse on AR Branches
The exception to this is transactions that use the ledger control accounts defined in the General Ledger Codes setup programs. These don't load the Capture GL Analysis Entries program, regardless of whether GL analysis is required for the accounts.
Transactions for a sub module require the module to be linked to General Ledger in Detail at company level (General Ledger Codes) or ledger code level (General Ledger Codes or GL Structure Definition).

GL analysis entries cannot be entered from a sub module if it is linked to the General Ledger in Summary.
The GL analysis required setup option is ignored for ledger codes defined in the General Ledger Codes setup program, even when the ledger code is manually entered in a posting program (e.g. they may be automated, or called automatically by other programs, in which case they can't be stopped to allow the capture of GL analysis entries).
The GL analysis required option is ignored when copying ledger codes to another company using the GL Copy, Merge and Delete program.
If the GL analysis code used does not exist, then a message to this effect is displayed and the program does not prompt for analysis again. The GL journal is created but not posted until the ledger code, ledger analysis code and ledger journal are corrected.
An Ask Me Later function is only available if the Force general ledger analysis setup option is enabled for the sub-module (General Ledger Codes).
General Ledger analysis entries are always distributed in the local currency, regardless of the currency in which the original transaction is processed.
If you no longer require GL analysis for a specific ledger code, then the GL analysis required option in the General Ledger Codes program must be disabled against that ledger code.

If you no longer require GL analysis at all, then this option must be disabled against all ledger codes.

Solving

Using

Status Codes

Accounts Payable - Payment Run Statuses

The status of an AP payment run indicates the current stage of the payment run and changes according to the functions performed against the payment run.

The current status of a payment run dictates the functions that are available. Therefore, the following table indicates the possible statuses for an AP payment run:

Status	Description	Function Performed
New	The payment run is currently being created. No records have been created yet.	Add New Payment Run for all payment types.
O - Open	The payment run was created and saved. Records have been created.	End Payment Run for the following payment types: Manual checks System checks (Not applicable to Group Payments) EFT payments (Not applicable to Group Payments)
O - Open void	The payment run was created and saved.	Void Check Entry and End Payment Run for the following payment types: Void checks
P - Paid	Invoices released for payment are recorded as paid.	Execute Payment Run for the following payment types: Manual checks System checks (Not applicable to Group Payments) EFT payments (Not applicable to Group Payments)
P - Voided	Check/EFT recorded as voided.	Execute Payment Run for the following payment types: Void checks.
C - Printed	Checks and/or remittance advices have been printed or checks and/or EFTs have been voided.	Print Checks/Remittances for all payment types.
L - Complete	The payment register has been printed for the payment run.	Print Payment Register for all payment types.

Hints and Tips

Columns in a list view are sometimes hidden by default. You can reinstate them using the Field Chooser option from the context-sensitive menu (displayed by right-clicking a header column header in the list view). Select and drag the required column to a position in the list view header.
Fields on a pane are sometimes removed by default. You can reinstate them using the Field Selector option from the context-sensitive menu (displayed by right-clicking any field in the pane). Select and drag the required fields onto the pane.

The captions for fields are also sometimes hidden. You can select the Show Captions option from the context-sensitive menu to see a list of them. Click on the relevant caption to reinstate it to the form.

If the Show Captions option is grayed out, it means no captions are hidden for that form.
Press Ctrl+F1 within a list view or form to view a complete list of functions available.

The abbreviation EFT and EFTs refers to Electronic Funds Transfer(s).

Referencing

Menu and Toolbar

The security settings against your operator code and the eSignature settings determine the availability of the various options.

Field	Description
File
Add New Payment Run	This lets you create and enter details for a new payment run.
Cancel Addition of Payment Run	This lets you cancel a payment run before it is saved. Once saved, you need to delete the payment run if it is not required.
Delete Payment Run	This lets you delete the current payment run. When you delete a payment run, the status of invoices included in the run are reset from Released status back to Normal. In addition, void payment and manual payment information against invoices in the run is also cleared. Only payment runs in a status of O - Open can be deleted.
End Payment Run	This lets you end the current payment run and to save the information you entered. When creating a new payment run, you are prompted to allocate a unique payment run number or code to the payment run if the Numbering method of AP payment runs is defined as Manual.
Payment Cycle
Execute Payment Run	Select this to use the Execute AP Payment Run program to pay the invoices you released for payment. The system compares the posting period of the payment run to the posting period against the invoices to be paid. Any invoice with a posting period after (later than) the payment run period is ignored and removed from the payment run. This option is only enabled if the payment run is in a status of O - Open and invoices have been released for the run.
Print Checks/Remittances	Select this to use the AP Check and Remittance Print program to print checks and/or remittance advices for invoices that have been paid. Considerations If your payment run is for Manual Checks, then you do not need to run the AP Check and Remittance Print program (before running the AP Payment Register program), unless you want to produce remittance advices for the manual checks. When processing system checks, you can only reprint checks as long as you have not printed the payment register for those checks. Remittances can, however, be reprinted when the payment register has been printed and the payment run is in a status of L - Complete. EFT remittances can be reprinted after the Payment Register has been printed. Select the Payment Run Maintenance option from the Functions menu to reprint checks or admittances.
CB Integration / Print Pay Register	Select this to use the AP Payment Register program to update the Cash Book and print a list of checks issued and voided as well as EFT payments processed. Considerations If you are processing EFT payments, you must use the EFT Payments Extract program to extract the payments into a batch for payment by the bank. When you select the CB Integration / Print Pay Register option, the following occurs: If the payment register has not been printed yet, the AP Payment Register program is loaded to perform the integration to the Cash Book. When the integration is successfully completed, the payment register is generated. If the payment register has already been generated, you can reprint payment registers using the Selected Payment Registers option from the Reprint function in this program. Note that the Period selection is ignored when reprinting the registers. All registers are reprinted irrespective of the periods selected. Alternatively, you can use the AP Payment Register Reprint program to reprint registers for specific periods. This is only applicable when the Accounts Payable module is integrated to the Cash Book.
Print Payment Register	Select this to use the AP Payment Register Reprint program to generate a list of checks issued and voided as well as EFT (Electronic Funds Transfers) payments processed. If you are processing EFT payments, you must use the EFT Payments Extract program to gather payments into a batch for payment by the bank. You can reprint the payment register more than once per payment run. You can also use the Reprint > Reprint Payment Registers option or the AP Payment Register Reprint program to reprint payment registers. This option only applies if Accounts Payable is not integrated to Cash Book, and is only enabled when the payment run is in a status of P - Paid (for Manual check payment runs) or C - Printed.
Query
Check Query	Select this to use the AP Browse on Checks program to view details of checks and EFTs created from payment runs.
Reprint
Selected Payment Registers	Select this to reprint a selection of payment registers previously printed. The AP Payment Register Reprint program can also be used to reprint payment registers.
Reports
Cash Requirements	Select this to print a list of cash requirements for each supplier using the Cash Requirements.
Release Schedule	Select this to produce a list of invoices that require payment using the AP Release Schedule program.
Released Payments Report	Select this to print a list of all the invoices that you have released for payment using to the Released Payments Report program.
Payment run	This lets you enter the code of the payment run to maintain, which is the unique payment code assigned to the payment run when it was created. Considerations Payment run numbers are allocated according to the selection at the Numbering method setup option. If you enter an existing payment run number, the program assumes you want to maintain that payment run. When you initially load the Payment Cycle Maintenance program, focus is set on this field. If your payment run numbers are set to Manual numbering, entering a new, unique number enables the fields on the Payment Run Information pane and you can capture the payment run details. If your payment run numbers are set to Automatic and you enter a non-existent run number, an error message is displayed indicating that the run number is not on file. Rather use the Add option on the toolbar or the Add New Payment Run option from the File menu to add a new payment run. You can't maintain a payment run to which you do not have access according to the Operator group defined against that payment run.
Add	Select this to create and enter details for a new payment run.
Cancel	This ignores any information you entered and returns to the previous screen. You can only cancel a payment run before you save it.
Delete	This deletes the data record currently displayed. When you delete a payment run, the status of released invoices is reset. Void payment and manual payment information against invoices in the run, is cleared. You can only delete a payment run with the status of O - Open.
End Payment Run	This lets you end the current payment run and save the information you entered. If you are creating a new payment run and the Numbering method for the AP payment run is defined as Manual, you are prompted to allocate a unique payment run number or code to the payment run.
Status	This is displayed at the bottom of the screen and indicates the current status of the payment run. The status of a payment run determines which functions are enabled and disabled.

Reprint Options

This screen is displayed when you select the Reprint > Selected Payment Registers option.

These options enable you to indicate the criteria for reprinting payment registers within the Accounts Payable module.

You can also use the AP Payment Register Reprint program to reprint AP payment registers.

Field	Description
Period selection
Period	Enter the financial period for which you want to reprint the payment registers.
Year	Enter the financial year for which you want to reprint the payment registers.
Check register selection
All	This lets you reprint all payment registers for the period and year entered in the previous fields.
Range	This lets you reprint the payment registers for a range of check registers within the period and year selected.
Single	This lets you reprint a single payment register within the period and year selected. Indicate the payment register number in the From check register field below.
From check register	Enter the first payment register number in a range of registers you want to reprint. If you want to reprint a single register, then enter that register number in this field.
To check register	Enter the last payment register number in a range of register numbers that you want to reprint.
Print	This lets you reprint the AP payment register according to the selection criteria you indicated.
Close	This accepts your selections and returns you to the previous screen.

Payment Run Information

The fields in this pane let you enter the payment run details.

These fields are enabled once you press Enter or Tab on the Payment run field or you select the Add option from the toolbar or the Add New Payment Run option from the File menu.

Field	Description
Bank	Enter a valid SYSPRO bank for which you want to create a new payment run. This field defaults to the default bank defined against your operator code. You can only enter a bank code to which you have been granted access.
Operator group	Optionally enter a valid SYSPRO operator group. This is used to determine the operators who will be allowed to maintain the payment run. If this field is left blank, the payment run can be maintained by any operator who has access to the Payment Cycle Maintenance program. If you enter an operator group, the payment run can only be maintained by: Operators who belong to that primary group Operators with system administrator rights The operator who created the payment run
Currency of payments	This indicates the payment currency for the payment run and defaults to the currency defined against the bank. If you entered a local currency bank at the Bank field, then you can enter any valid SYSPRO currency in this field. If you entered a foreign currency bank at the Bank field, then this field defaults to the currency of the bank and can't be changed.
Payment type	Indicate the type of payment run you want to create. The payment type you select determines the available options at the Release Invoices function in the Invoices Released for Payment list view.
System Checks	This lets you create a payment run that pays supplier invoices with system checks. Suppliers that have the EFT payments required option in the Suppliers program defined as Yes, can be paid by system check if the following is true: Invoices are released by review and you manually select to pay the supplier. Invoices are released automatically and you select the Include EFT suppliers option.
Manual Checks	This lets you create a payment run to record manual checks to pay supplier invoices.
Void Checks	This lets you create a payment run to cancel a check or EFT already issued to a supplier when the check has been lost or dishonored. If a payment run consists of many checks, each check must be voided separately. The purpose of the Void Checks function is not to reverse a payment run that has been executed in error. After voiding the check or EFT transaction, you can create a payment run to issue a replacement check or re-process an EFT transaction.
EFT Payments	Select this to create a payment run to pay supplier invoices via EFTs. Considerations You can only pay using EFTs, when the EFT payments required option is enabled against the bank specified for the payment run. If the bank you entered does not require EFT payments, then an error message is displayed when you end the payment run or you select the Release Invoices option. In addition, the EFT payments required option must be enabled against the supplier you include in the payment run.
Payment reference	Enter a reference for the payment. Any reference made against the manual check will override the reference entered here.
Multi-currency details	This lets you select the currency details for multi-currency payment runs.
Multi-currency payment	This lets you indicate that you are creating a multi-currency payment run.
Currency of suppliers	This lets you select the supplier currency of all suppliers that are paid on the multi-currency payment run. For single currency payment runs, this is populated with the Currency of payments description.

Bank Information

The information in this pane relates to the bank you selected in the Payment Run Information pane.

Field	Description
Bank	This indicates the code of the SYSPRO bank for which you are processing the payment run.
Description	This indicates the description of the SYSPRO bank for which you are processing the payment run.
Currency	This indicates the currency of the bank.
Bank Account	This indicates the bank account number assigned to the account by the bank.
Telephone	This indicates the bank's telephone number.

Payment Cycle Information

This pane displays information about the status of the payment run.

These fields are not updated with the payment cycle value until you run the Execute Payment Run option. They will therefore reflect as zero until the payment run is in a status of P - Paid, C - Printed, P - Voided, or L - Complete.

The values in some fields are only displayed when the relevant stage in the payment cycle is reached.

Field	Description
Payment status	This indicates the current status of the payment run.
Payment posting period	This indicates the month and year into which the transactions for the payment run were processed.
Payment date	This indicates the payment date for the payment run.
Totals (supplier currency)	This section displays all totals in the supplier currency.
Gross payment	This indicates the gross total value of invoices released for payment for all suppliers. This excludes invoices placed on hold.
Discount	This indicates the total discount for the entire payment run (for all suppliers included in the payment run).
Withholding tax	This indicates the withholding tax value applicable for the released supplier invoices in the payment run. Considerations Withholding tax is only automatically calculated when the following applies: The Accounting basis setup option in the Accounts Payable withholding section is defined as Payment. The Withholding tax required and Automatic calculation of withholding tax setup options are enabled. A valid withholding tax code is defined against the supplier using the Suppliers program. Withholding tax is not calculated if the Automatic calculation of withholding tax setup option is not enabled, even when the option Withholding tax required is enabled.
Net payment	This indicates the total net payment amount for the entire payment run (for all suppliers included in the payment run).
Check/Void date	This indicates the date on the check or the date the check was voided.
Check register print date	This indicates the date when the payment register was printed.
Check register number	This indicates the payment register number.

Invoices Released for Payment

The available functions differ depending on the type of payment run your are processing.

To release invoices, select the drop-down menu from the Release Invoices field to select the option you require. If you select the Release Invoices option itself, the program automatically selects System Checks/EFT - Review Invoices.

Field	Description
Release Invoices	Select this to indicate the supplier invoices you want to include in the payment run. Use the drop-down menu to select the option you require. If you select the Release Invoices option itself, then the program automatically selects the System Checks/EFT - Review Invoices menu option. If you select this while adding a new payment run, you are prompted to save the payment run details before continuing.
System Checks/EFT - Review Invoices	This lets you use the AP Release Invoices to Pay by Review program to review invoices by supplier and manually select the invoice(s) you want to release for payment. This option is only enabled if the Payment type is set to System checks or EFT Payments and the payment run is in a status of O - Open.
System Checks/EFT - Automatic Release	This lets you use the AP Automatic Release of Invoices to Pay program to select multiple suppliers and their invoices you want to release for payment. Only invoices where the supplier's bank matches the bank defined against the payment run are included for release. This option is only enabled if the Payment type is set to System checks or EFT Payments and the payment run is in a status of O - Open.
Manual Checks	This lets you use the AP Manual Check Entry program to enter details of checks written manually to pay supplier invoices. This option is only enabled when you are maintaining a payment run with Payment type: Manual checks. The payment run must be in a status of O - Open or New.
Void Checks	This lets you use the AP Void Checks program to enter the details of checks or EFT payments you want to void. The AP Void Checks program can only be used to void checks that are issued in Accounts Payable. Cash Book checks cannot be voided using this program. This option is only enabled when you are maintaining a payment run with Payment type: Void checks.
Change	This lets you maintain the Gross payment, Tax and Discount amounts for the currently highlighted invoice in the Invoices Released for Payment list view. You can only maintain a released invoice while the payment run is in a status of O - Open.
Change Exchange Rate	This lets you maintain the exchange rate to be used for the payment. This option is only enabled if the payment run is for a foreign currency and the exchange rate against this currency is not set to Fixed. The exchange rate can only be changed for invoices that are in a status of Open.
Remove	Use the drop-down menu to select the option you require. If you select the Remove option itself, then the program automatically selects the Remove Invoice option.
Remove Invoice	This lets you remove selected invoices from being released for payment. You can use your mouse pointer together with the Ctrl and Shift keys to highlight the invoices you want to remove from the payment. You can then select the Remove Invoice option to remove the selected invoices. Considerations Removing one or more invoices: Select the invoices in the Invoices Released for Payment list view and select the Remove Invoice option. The invoice will be removed from the list view and the Net (currency) payment value for the supplier and for the payment run is adjusted accordingly. In addition, the Released status is removed from the invoice. An invoice can only be removed from the Invoices Released for Paymentlist view if the payment run status is O - Open.
Remove Supplier	This lets you remove the supplier from the payment run. Considerations To remove all invoices for a supplier: Select one of the supplier's invoices in the Invoices Released for Payment list view and select the Remove Supplier option. The selected supplier and all the supplier's released invoices will be removed from the payment run and the payment cycle information for the payment run is updated accordingly. The status of the supplier's invoices is reset to Normal. If the payment run is for Manual checks, the manual check information is removed for all checks for the selected supplier. Invoices can only be removed from the Invoices Released for Payment list view if their status is Open. Likewise, a supplier can only be removed from the payment run, if all the supplier's invoices are in a status of Open.
Hold Invoice	This lets you put the currently selected invoice in the Invoices Released for Payment list view on hold. The invoice on hold is removed from the list view and the Net payment value for the supplier and for the payment run is adjusted accordingly. The status of the invoice is changed from Released to Hold. You use the AP Release Invoices to Pay by Review program to remove the hold status. You can only remove an invoice if the invoice status is Open.
Clear Manual Check	This lets you delete the currently highlighted invoice from the payment run and the Invoices Released for Payment list view. You can only place an invoice on hold if it is in a status of Open.
Clear Void Check	This lets you delete the currently highlighted invoice from the Invoices Released for Payment list view. The status of the invoice is changed from Voided to Normal. In addition, the payment details for the payment run are updated. You can only remove an invoice if its status is Open void.

Invoices Released for Payment List view

This list view displays the supplier invoices released for payment or voiding.

Field	Description
Withholding tax	This indicates the withholding tax value applicable for the invoice, which defaults to the value that was saved when the invoice was initially released, but can be changed if required. Considerations Withholding tax is only automatically calculated when the following applies: The Accounting basis setup option in the Accounts Payable withholding section is defined as Payment. The Withholding tax required and Automatic calculation of withholding tax setup options are enabled. A valid withholding tax code is defined against the supplier using the Suppliers program. Withholding tax is not calculated if the Automatic calculation of withholding tax setup option is disabled, even if the Withholding tax required setup option is enabled. However withholding tax can be calculated using the Change option. The withholding tax values that are saved when the invoice was initially released are displayed by default, but can be changed if required.
Withheld at capture	This indicates the withholding tax value applicable for the invoice at point of capture. It only applies if the Withholding tax setup option is defined as At point of capture.
Net (currency)	This indicates the net payment in the supplier currency. The word currency in the title will be replaced with the currency code of the supplier.
Exchange rate (currency)	This indicates the exchange rate used to convert from the supplier currency to company (local) currency. The word currency in the title will be replaced with the currency code of the supplier.
Net payment (currency)	This indicates the payment amount in the payment currency. The word currency in the title will be replaced with the currency code of the payment currency.
Exchange rate (currency)	This indicates the exchange rate used to convert from the payment currency to the company (local) currency. The word currency in the title will be replaced with the currency code of the payment currency.

Change Payment Details

This screen is displayed when you select the Change option from the Invoices Released for Payment list view. It enables you to change the invoice amount to pay, the discount and optionally the tax for the released invoice.

Field	Description
Save	This saves the details you entered or changed. If the Tax code of the settlement discount is spaces, a warning message is displayed indicating that the settlement discount Tax portion will not be included in the Tax Return report.
Cancel and Close	This ignores any information you entered and returns to the previous screen.
Payment information
Supplier	This indicates the supplier for the invoice you are maintaining.
Invoice	This indicates the number of the released invoice you are maintaining.
Gross payment	This lets you enter the new gross payment value for the invoice. Changing the invoice payment amount is typically done to process a prepayment to the supplier on a zero value invoice.
Discount amount	This lets you enter the settlement discount amount for the invoice. The Tax on settlement discount fields are not enabled when this value is zero.
Tax on settlement discount	This section is only enabled when the Discount amount is not zero.
Tax code	This indicates the tax code used to calculate the Tax portion on the settlement Discount amount. By default, this is the tax code specified at the Default tax code setup option, but this can be changed. If an invoice was released in a previous version of this program, the Tax code may be spaces and must be manually entered.
Tax portion	This indicates the tax amount applicable to the settlement Discount amount. Considerations If a Default tax code is defined at the Settlement discount setup options, the tax portion of the settlement discount is calculated based on the rate defined against that tax code. The rate is determined by the Calculate tax using historical tax rates setup option. When this option is enabled, the Invoice date is used to ascertain the tax rate at that date. When this option is disabled, the current tax rate against the tax code is used (Tax Code Setup). Take note that: You can manually enter a value in the Tax portion field. The tax portion is not automatically calculated when you manually enter a tax code. Use the Calculate function to calculate the appropriate tax portion. The tax portion reduces the Discount amount posted to the General Ledger. For example: The supplier takes a $10 discount on a payment inclusive of tax. The tax is 10%. The tax portion (0.91) reflects as tax on settlement discount in the ledger. The discount portion is reduced by the tax amount and is therefore calculated as: 10 - 0.91 = 9.09 (i.e. discount amount - tax portion of settlement discount). This option is not available when the Withholding tax setup option is enabled.
Calculate	This lets you calculate the appropriate Tax portion and QST portion when you manually enter or change the Tax code or QST code.
QST code	This indicates the QST tax code used to calculate the QST portion on the settlement amount. By default, this is the tax code specified at the Default QST code setup option, but this can be changed. If an invoice was released in a previous version of this program, the QST code may be spaces and must be manually entered.
QST portion	This indicates the QST tax amount applicable to the settlement Discount amount. Considerations If a Default QST code is defined at the Settlement discount setup options, the second tier tax portion of the settlement discount is calculated based on the rate for that code. The rate used is determined by the Calculate tax using historical tax rates setup option. When this option is enabled, the Invoice date is used to ascertain the QST rate at that date. When this option is disabled, the current tax rate against the QST code is used (Tax Code Setup). Take note that: You can manually enter a value in the QST portion field. The QST portion is not automatically calculated when you manually enter a QST code. Use the Calculate function to calculate the appropriate QST portion. The QST portion is currently not included in the Tax Return report. The formulas for this calculation are as follows: QST portion rounded = Discount - (Discount x 100 / (100 + Tax rate for QST settlement discount)) Tax portion rounded = (Discount - QST portion) - ((Discount -QST portion) x 100 / (100 + Tax rate for settlement discount))) This field is only displayed when the Second tier tax required and Request QST amount setup options are enabled.
Withholding tax information	The Withholding tax fields only become available when the Withholding tax required option is enabled and the Accounting basis is defined as Payment.
Taxable amount	This lets you indicate the amount of the transaction which is subject to tax. Alternatively, you can use the Calculate option to calculate the taxable amount.
Calculate	This lets you automatically calculate the Taxable amount, based on the current transaction values.
Withholding tax code	This defaults to the Withholding tax code defined against the supplier in the Suppliers program, but can be changed.
Tax amount	This lets you indicate the amount of tax you are withholding from the invoice being paid. Alternatively, you can use the Calculate option to calculate the Tax amount. The rate used depends on the tax code entered and your selection at the Use current tax rate % option. The tax amount is re-calculated and redisplayed each time you select or deselect this option.
Calculate	Select this to automatically calculate the Tax amount, based on the current transaction values entered. The tax amount is calculated as: ((Taxable amount * withholding tax rate) / 100). The withholding tax rate depends on the tax code entered and your selection at the Use current option. If the Use current option is enabled, the tax amount is calculated as: ((Taxable amount * current tax rate) / 100) If the Use current option is not enabled, then the tax amount is calculated as: ((Taxable amount * original tax rate) / 100)
Use current tax rate %	Select this to calculate the tax amount using the Current tax rate % defined against the tax code in the Tax Code Setup program. If you don't select this option, the tax amount is calculated using the Invoice tax rate %. The tax amount is re-calculated and redisplayed each time you select or deselect this option.
Invoice tax rate %	This indicates the withholding tax rate currently held against the invoice.
Current tax rate %	This indicates the tax rate defined against the tax code in the Tax Code Setup program.

Change Exchange Rate

This screen is displayed when you select the Change Exchange Rate option from the System Checks/EFT menu. It lets you change the exchange rate for a foreign currency invoice payment, providing the exchange rate for the currency is not defined as Fixed (Currency Maintenance).

Field	Description
Save	This saves the details you entered or changed. A warning message is displayed if you select to change the exchange rate against an invoice processed with a fixed exchange rate.
Change Period	Select this to use the Request New GL Posting Period program to change the period to which the exchange rate variance transaction should be posted. You can only change this period once per run of the Payment Cycle Maintenance program and only the first time you select the Change Exchange Rate option. This is due to the single journal number that is created for the exchange rate variances and all transactions created must belong to the same period. Therefore this function is disabled, the second and subsequent times you select the Change Exchange Rate option.
Cancel and Close	This ignores any information you entered and returns to the previous screen.
Variance posting period	This only applies if the Apply rate to outstanding invoice balance option is selected.
Posting month	This indicates the period to which the exchange rate variance transaction must be posted.
Posting year	This indicates the year to which the exchange rate variance transaction must be posted.
Exchange rate information
Exchange rate	Enter the exchange rate required for the invoice payment. This defaults to the invoice rate.
Apply rate to outstanding invoice balance	Select this to apply the Exchange rate in the previous field to the entire invoice balance of the invoice that is currently selected. Considerations If you select this option: The currently selected invoice is revalued (i.e. the exchange rate on the ApInvoice table is changed). An adjustment value for the exchange rate variance is created (i.e. a record is created in the ApInvoiceReval table). The exchange variance is posted to the Unrealized variance account defined at the Variance interfaces setup option using the AP Currency Variance GL Interface program. If this is not defined, the exchange rate variance is posted to the Exchange variance account defined against the bank. The exchange variance is calculated as follows: [Round to 2 decimals(payment rate * payment amt )] - [Round to 2 decimals (invoice rate * payment amount)]. An exchange variance journal is generated for the payment amount in the current Accounts Payable period. If you do not select this option: The new exchange rate is applied to the payment (or part payment) that is being made against the selected invoice, and the exchange variance is posted to the Realized variance account defined at the Variance interfaces setup option using the AP Currency Variance GL Interface program. Any variances that arise are assigned to the current Accounts Payable period. If the Create general ledger journal setup option is disabled for Accounts Payable, run the AP Payments GL Integration program to create the journal for this transaction (Setup Options > General Ledger Integration > General Ledger Codes). If the Post general ledger journal setup option is disabled for Accounts Payable, use the GL Journal Entry or GL Post Multiple Normal Journals program to post the journal to the general ledger (Setup Options > General Ledger Integration > General Ledger Codes).

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