What is a Payable Document?
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Answer Posted / mstapps
Payments documents are
1. check
2. Elecronic
3. Wire
4. Clearing
CHECK : Payments in a payment batch, quik payment, or
manual payment
ELECTRONIC : You pay Electronic payment eithr through the e-
commerce Gateway, or by delivering a payment batch file to
your bank. for both methods, payables creartes a file
during payment batch creation. for e-commerce gateway
payments, the fil is processed through the e-commerce
gateway and delivered to your bank ti create payments. for
electronic funds tranfers, the file is formatted and
delivered to your AP.out directory for you to deliver to
your bank.
WIRE : A payment method where you pay invoices outside of
payables by notifying your bank that you want to debit your
account and credit your supplier's account with appropriate
funds. You provide your bank e\with your supplier's bank
information, and your bank sends you confirmation of your
transaction. Your supplier's bank sends your supplier
confirmation of the payment. you then record the trasaction
manually.
CLEARING : Payment method you use to account for interfund
expenses when you do not actually disburse funds through
bank. Generally, you do not generate a payment document
with the clearing payment method
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