There are two ways to pay Creditors in Palace
Through Generate Creditors - This will pick up all the Creditors with cleared funds.
Through Payment Creditor - This is for individual creditors - Care needs to be taken here, if the invoice is not ticked it means the Owner does not have enough funds to pay the invoice so DO NOT tick it, you risk overdrawing your Trust Account.
Below we will look at both ways to pay out.
Pay Creditors through Generate Creditor Payments:
- Go to transactions, click on the drop down arrow on the right hand side
- Choose "Generate Creditor Payments" click on the green arrow
- A pop up screen might appear asking you to clear the online file - YOU ALWAYS SAY YES TO THIS
- A screen will appear, if you pay any creditors pay Chq, then enter the next available cheque number in here
- Check the date
- Click OK
- You may get a screen show, with Green Ticks and Red Crosses. This happens because of the Priority Setting on your invoices. If you have more than one invoice set as Medium for one property. It will show all of the invoices for this property.
- It will show the ones it can pay with green ticks and the ones with not enough money with Red Crosses. You can right click on these invoices and change the payment order. When finished click on Save
- You will have a screen of creditor payments showing.
- Click on the printer (Top right of the screen) this is the unprocessed transaction report and must be printed.
- Once printed - go back to transactions and click on Process.
- Click on yes to the printer - Printed and email remittances advices will be generated.
- Click on ONLINE - You will see a list of creditor payments and the bank accounts showing on the screen
- Click on the printer (Top right of the screen) This is the Direct Credit Report - The total of this, must match the total of the Direct column on the Unprocessed Transaction Report.
- Then click Generate - It will bring up the browse screen - Browse to where you want to save the file. Name it Creditor payments (Do not date it) click OK. You have now generated the CSV file that you will upload to the Bank. (If you don't upload a file then you can skip this step)
- Click Close and Close
- Do the upload of the file to your bank.
Paying out the Creditors through Payment Creditor (single):
- Click on Transactions - Click on the drop down arrow on the left hand side
- Select Payment Creditor - Click on Green arrow
- Find the Creditor that you require
- The invoices entered for that creditor will show here.
NOTE: The ticked ones means that the properties have enough funds to cover.
The unticked ones means that the property does not have enough funds and you run the risk of overdrawing the bank accounts
- Check the total so that it matches what you want to pay
- Click OK when ready
- Then click Process
- Click on Online if you want to pay the creditor through the bank
- Click on Generate, this will create a file for the bank. Save to your desktop (or file) and click save
- Then close out.