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Payables and Cash Management - EBS (MOSC)

How to reconcile/clear transactions from a Bank Acct. before Cash goes out?

Jul 24, 2018 2:02PM edited Aug 8, 2018 5:06AM in Payables and Cash Management - EBS (MOSC) 7 commentsAnswered

Hi there,

Trying to find out: How to reconcile/clear transactions from a Bank Acct. before Cash goes out?

There is a bank account used for vendors who are paid online (either with a P-CARD or thru the Bank acct.).

These transactions remain in "Payment Process Status: Negotiable" in Payables module although Cash goes out the door.

Reason being: Bank is paid AFTER the FACT (generally 14th of the proceeding month), that is, although the Cash cycle between

AP and CE are completed (Payment is reconciled/cleared per the Bank Statement) CASH DOES NOT YET GO OUT.

Current practice is:

Tagged:

EBS-FIN-Payables

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