AP bank rec. and e-payments

Yahoo Archive
1
Sorry for my stupid response. I obviously read your message incorrectly. I
better get my eyes checked so I can distinguish between "ARandAP".

Jim Heidner

-----Original Message-----
From: Jerry Boyle [mailto:jboyle@...]
Sent: Thursday, November 09, 2000 4:02 PM
To: vantage@egroups.com
Subject: [Vantage] AP bank rec. and e-payments

Anyone found an efficient way to reconcile your AP bank account when using a
combination of electronic payments and standard checks? Our e-payments show
up on our bank statement as a lump sum debit. This lump sum may include any
number of individual payments. Vantage has these payments recorded by
payment number (check number). We have not found a good way to know which
payments are cleared via the lump sum. Our check runs include both
e-payments and standard checks mixed together so the numbers are not
consecutive or grouped. The bank rec screen in Vantage does not indicate
which payments were electronic. It ends up being a guessing game with a lot
of calculator paper being used. We have not been able to come up with any
good methods of streamlining this process. Any ideas?

Jerry Boyle
SIPCO, Inc
Meadville, Pa. 16335
814.724.2243



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(Note: If this link does not work for you the first time you try it, go to
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2
Anyone found an efficient way to reconcile your AP bank account when using a
combination of electronic payments and standard checks? Our e-payments show
up on our bank statement as a lump sum debit. This lump sum may include any
number of individual payments. Vantage has these payments recorded by
payment number (check number). We have not found a good way to know which
payments are cleared via the lump sum. Our check runs include both
e-payments and standard checks mixed together so the numbers are not
consecutive or grouped. The bank rec screen in Vantage does not indicate
which payments were electronic. It ends up being a guessing game with a lot
of calculator paper being used. We have not been able to come up with any
good methods of streamlining this process. Any ideas?

Jerry Boyle
SIPCO, Inc
Meadville, Pa. 16335
814.724.2243
3
Our bank faxes us the detail of the invoices being paid. This assumes your
customer is providing this information. In some cases our customer even
faxes us a document which tells us what invoices they are paying
electronically. We enter this information just as if we received a check
in the mail just using the bank reference number instead of a check number.

Jim Heidner
William Frick & Company

-----Original Message-----
From: Jerry Boyle [mailto:jboyle@...]
Sent: Thursday, November 09, 2000 4:02 PM
To: vantage@egroups.com
Subject: [Vantage] AP bank rec. and e-payments

Anyone found an efficient way to reconcile your AP bank account when using a
combination of electronic payments and standard checks? Our e-payments show
up on our bank statement as a lump sum debit. This lump sum may include any
number of individual payments. Vantage has these payments recorded by
payment number (check number). We have not found a good way to know which
payments are cleared via the lump sum. Our check runs include both
e-payments and standard checks mixed together so the numbers are not
consecutive or grouped. The bank rec screen in Vantage does not indicate
which payments were electronic. It ends up being a guessing game with a lot
of calculator paper being used. We have not been able to come up with any
good methods of streamlining this process. Any ideas?

Jerry Boyle
SIPCO, Inc
Meadville, Pa. 16335
814.724.2243



We no longer allow attachments to files. To access/share Report Files,
please go to the following link: http://www.egroups.com/files/vantage/
(Note: If this link does not work for you the first time you try it, go to
www.egroups.com, login and be sure to save your password, choose My Groups,
choose Vantage, then choose Files. If you save the password, the link above
will work the next time you try it.)
4
Jerry: Why not use a separate batch for the E-payments and/or
use a unique check number sequence say with a different starting number
than the regular AP checks. If you mix them don't you waste a lot
of check forms as opposed to printing on paper?


-----Original Message-----
From: Jerry Boyle On Behalf Of Jerry Boyle
Sent: Thursday, November 09, 2000 4:02 PM
To: vantage@UUCP {vantage@egroups.com}
Subject: [Vantage] AP bank rec. and e-payments


Anyone found an efficient way to reconcile your AP bank account when using a
combination of electronic payments and standard checks? Our e-payments show
up on our bank statement as a lump sum debit. This lump sum may include any
number of individual payments. Vantage has these payments recorded by
payment number (check number). We have not found a good way to know which
payments are cleared via the lump sum. Our check runs include both
e-payments and standard checks mixed together so the numbers are not
consecutive or grouped. The bank rec screen in Vantage does not indicate
which payments were electronic. It ends up being a guessing game with a lot
of calculator paper being used. We have not been able to come up with any
good methods of streamlining this process. Any ideas?

Jerry Boyle
SIPCO, Inc
Meadville, Pa. 16335
814.724.2243



We no longer allow attachments to files. To access/share Report Files,
please go to the following link: http://www.egroups.com/files/vantage/
(Note: If this link does not work for you the first time you try it, go to
www.egroups.com, login and be sure to save your password, choose My Group
s, choose Vantage, then choose Files. If you save the password, the link
above will work the next time you try it.)