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Accounts Payable - Payment Processing

How to enable and configure the feature, manage vendor payments across multiple methods, and support dealerships with real-time collaboration tools and detailed payment processing steps.

What is this feature?

The A/P Payment Processing feature in VUE allows users to manage accounts payable (AP) invoices efficiently and process them in a single, centralized location. This feature provides new tools to reconcile vendor invoices, queue payments and handle a variety of payment methods, including electronic funds transfer (EFT), credit card, cash, and traditional checks.

Why is this important?

This feature simplifies and streamlines the accounts payable workflow, enhancing operational efficiency and accuracy. Key benefits include:

  • Improved collaboration: Multiple users can work simultaneously, with real-time updates thanks to signalR technology.
  • Expanded payment options: Users can process EFT, credit card, and cash payments directly within VUE.
  • Time-saving automation: Automatic saving ensures changes are captured without manual intervention, reducing errors.
  • Flexible customization: The ability to set default payment methods and select bank accounts per vendor improves user convenience.

How does this feature work?

Step-by-Step Overview:

  1. Accessing the Feature
    • Navigate to the Accounts Payable screen and select the "Process Payments" option.

  • This will open the Process Payments screen, where you can manage invoices in tabs: Reconcile Invoices and Payment Queue.

  1. Reconcile Invoices Tab
    • View all unpaid invoices, organized by vendor. Expand or collapse vendor views for better visibility.
    • Apply filters to narrow down invoices by:
      • Vendor name or number (multi-select supported).
      • Invoice numbers.
      • Due dates, amounts, or discount eligibility.
    • Use the Queue toggle to select invoices for payment:
      • Individually toggle invoices for each vendor.
      • Use the bulk All/None buttons to queue or unqueue all invoices for a specific vendor.
    • Auto-Saving: Changes to the queue are saved automatically in real time using signalR technology. No manual save is required.
    • Review the Queued Totals column to see a net total (after discounts) for invoices queued by vendor.
  2. Payment Queue Tab
    • Review and finalize invoices queued for payment:
      • Adjust the bank account or payment method for each vendor if required.
      • Payment methods include EFT, credit card, cash, and checks.
    • Utilize the expanded or collapsed views for easier navigation:
      • Collapsed view shows only totals per vendor.
      • Expanded view displays detailed invoice-level data, such as due dates, amounts, and applied discounts.
  3. Batch Processing Payments
    • Click Post Payments to lock queued payments for each vendor and initiate the payment process.
    • During processing:
      • Vendors selected for payment are locked to prevent queue changes by other users.
      • The system assigns reference numbers for each transaction if required.
      • A payment summary is generated, displaying totals per payment method and a grand total.
  4. Printing Checks (if applicable)
    • If checks are part of the payment batch:
      • The system assigns check numbers automatically if a default is set or prompts the user to input them manually.
      • A prompt will display the assigned check numbers, allowing you to print or cancel the process for corrections.
    • For non-check payments (e.g., EFT, credit card), no additional printing steps are required.
  5. Review Batch Summary
    • After processing, a batch summary provides a detailed report of:
      • Payments processed by method (e.g., EFT, checks, etc.).
      • Total payments by account and vendor.
      • Any errors or exceptions during the process.
    • Save or export the summary for record-keeping or reconciliation.

Who uses it?

  • Accounts Payable Teams: To manage and reconcile vendor invoices.
  • Finance Departments: To ensure accurate payment methods and maintain proper financial records.
  • Dealership Staff: Authorized users in organizations utilizing the VUE system to streamline their payment workflows.

Permissions Required:

  • View and Queue Invoices: Read access to Accounts Payable.
  • Post Payments: Users must have Read and Update permissions.

Additional Functional Features:

  • Real-Time Collaboration:
    • Users can see who else is working in the Process Payments screen at the same time. Changes made by others (e.g., invoices added or removed from the queue) are visible immediately.
    • User activity is displayed at the top of the screen but not at the invoice level.
  • Invoice Count Indicators:
    • Visual indicators show the total number of:
      • Vendors with unpaid invoices.
      • Invoices currently queued for payment.
      • Remaining unpaid invoices.
  • Error Prevention Mechanisms:
    • Locking vendors during payment processing ensures queued amounts cannot be altered by other users.
    • The system prevents duplicate reference numbers for payments to ensure accuracy.
  • Customizable Settings:
    • Users can define system-wide or vendor-specific default payment methods for efficiency.
    • When no defaults are set, the system prompts the user to select a method or account manually.
  • Multi-Schedule Selection:
    • Users can assign AP schedules to invoices to streamline payment selection. Unscheduled AP accounts can also be handled separately if needed.