AcctVantage ERP User ManualsAcctVantage ERP User ManualsAccounts Payable Paying Bills Set up an alternate Payment Type (i.e. Credit Card, ACH, EFT, etc.)

Set up an alternate Payment Type (i.e. Credit Card, ACH, EFT, etc.)

AcctVantage supports the use of AP Payment Types other than checks! If you pay some Vendors using a credit card, electronic funds transfer (EFT), automated clearing house (ACH) or any other method you can set up a new Payment Type and use it to pay your bills.

(Optional) Create a new GL Account

In this step, we can set up a new GL Account to offset the payment to your Vendor in place of your checking/cash account. For example, if you are setting up to make payments using a Credit Card you may wish to use a clearing account to record your credit card liability (i.e. CREDIT). Then, you would clear this amount (i.e. DEBIT) when you pay the Credit Card bill.

In some cases you won't need to create a new GL Account for the new Payment Type. It depends on where that payment is made from. For example if you are creating an EFT or ACH Payment Type that draws from your operating checking account you don't need a new GL Account; you would indicate the checking account in the next step.

1. Open the Payment Type window.

Navigate to Accounts Payable ➤ Payment Types.

Open the Payment Type window.

2. Create a new Payment Type.

3. Enter the Payment Type info.

  • Enter a name for the Payment Type, a GL Account Code and a Custom Form to use when printing.
  • If you want to be able to enter a Voucher directly to this Payment Type then select the Available on voucher box.
  • The Custom Form can be your AP Check form, which will look just like your AP Checks except there will be no check number.

Once you've established your Payment Types, you will be able to settle open Vendor invoices using the Payment Type via the Print Checks screen or (new AV12.0.3.6) use the payment type when entering a new AP Voucher.