PSA L&P - Checks: How to record one payment of two or more bills when payment was made electronically

How to record one payment of two or more bills when payment was made electronically

To record the electronic payment of two or more bills with one check number, you must go through the check printing process (although you never have to actually print the check).

  1. Go into Ledger & Payables → Checks.
  2. Select all the bills that make up the one payment.
  3. Create the check, updating the check number to include letters. This process will generate a check PDF.
    • Since the actual payment was electronic, there is no need to print the PDF.  Simply close it.
    • An example of a check number with letters is EFT08172018. Using leading alpha characters will keep your non-electronic check numbers in sequence with your check stock. 

The vendor option, Always print a separate check for each bill, should not be checked. 
Vendor_checks_print-all-on-one.png

  • Since several bills were paid in one electronic payment, using the checks screen will allow accurate recording of one transaction for several bills paid under one (electronic) check number.
  • If the Bills screen is used, a unique check number must be assigned for each bill. (You could use the same check number but add a letter after each one to indicate the same electronic check was used. For example, EFT10101A, EFT10101B, etc.)  This is less accurate as only one transaction will be on your bank statement.

Note: If you are paying a Credit Card bill with more than one payment be sure that the bill and payment dates fall in the same statement period for both payments. 

 

 


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