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What is Zero-Payment in AP
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There are certain cirumstances wherein we record a debit
memo to reduce the laibility, (What ever may be the reason)
though the payable balance decreses, the invoice still
shows the orginal amount to be paid, to correct this
position we make a zero payment and account is nullified.
In order to do this we need to enable Zero payments Check
box at Bank Account Defnition.
| Is This Answer Correct ? | 28 Yes | 2 No |
Answer / sugam ghosh
While running a payment batch for a specific supplier
site,payment batch will pick up standard invoices as well
as debit memos created for the same supplier site. It may
happen that invoice amount is exactly equal to the debit
memo amount so at the time of payment confirmation there
will not be any amount to pay but still it will be
registered as a zero payment to track the accounting
entries in the payable accounting. At the time of GL
transfer it will also get reflected for that specific
liability account.
Enable Allow Zero Payment checkbox at the bank account
level first.
| Is This Answer Correct ? | 9 Yes | 6 No |
Answer / reddy
When we are create debit/credit memos that time the entire invoice is zero called as zero payment.
| Is This Answer Correct ? | 2 Yes | 0 No |
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