Vendor Payment form: options and information

Use the Vendor Payment form to create prepayments to vendors. When you receive bills from the vendor, you can apply the prepayments against the bills in the Apply Credits and Payments dialog box.

You can print checks without closing the Vendor Payment form, or you can record credit card and cash payments directly from the form by clicking Issue Payment on the toolbar. You can choose to issue payments later in the Select Payments to Issue dialog box.

Open the form

  • On the Vendors menu, click New Vendor Payment.

Form options

Form options and descriptions

Option

Description

Date

Displays the current date. Click the arrow to open the calendar and select another date.

No

Displays a unique identifier for the document. It is based on incremental sequencing from the previous form of the same type. You can enter a different vendor payment number.

Pay to

(Required.) Click the arrow to select a vendor or select Add a new Vendor.

Address

If you entered address information when you created a vendor, the business address appears in the Address field. Click the arrow to select another address.

Pay from

(Required.) Click the arrow to select the account from which you are making the payment.

Amount

(Required.) Type the amount of the payment in dollars and cents, for example $101.56. You can type whole dollar amounts by typing the numbers and Microsoft Office Accounting 2008 adds the zeros.

Payment method

(Required.) Displays the type of payment that you are making. Click the arrow, and then select Cash, Check, or Credit Card. The Electronic Payment option is available if you have previously set up online banking.

Option

Description

Cash

Payment is recorded when you save the form.

Check

The Print Checks dialog box opens when you save the form and click Issue Payment on the toolbar.

Credit Card

Payment is recorded when you save the form. If you have signed up for credit card processing, the Windows Live ID sign in box opens.

Electronic Payment

When you save the form, the payment is available in the Select Payments to Issue dialog box. If you click Issue Payment, the Log On to Online Banking dialog box opens.

Note   After you have issued an online vendor payment, you can cancel it using Office Accounting 2008. The amount of time you have to do this depends on your bank or financial institution's policy. For more information about canceling an online vendor payment, see Cancel online vendor payments.

To be printed

If you select Check as the payment method, the To be printed check box is automatically selected. This allows you to save a payment form to print later and causes the Check no. field to be disabled. If you are recording a handwritten check, clear the To be printed check box, and then enter the check number in the Check no. field. If you select Cash, Credit Card, or Electronic Payment, the field is unavailable.

Check no.

If you are recording a handwritten check, type the check number. The field is unavailable unless you selected Check as the payment method and cleared the To be printed check box.

Memo

Type information or comments that you want to be printed on a check or recorded for the payment.

Reference

Type a reference number that relates to the payment.

Ending balance

(Read-only.) Displays the current book balance of the selected bank account. Accounting 2008 updates the balance when you enter an amount in the Amount field.

Vendor balance

Displays the current balance with the selected vendor. Accounting 2008 updates the balance when you select a vendor and enter an amount in the Amount field.

Additional actions

Actions menu commands

On the Actions menu, you can select the following commands.

Click

To

New Vendor Payment

Open a new Vendor Payment form.

Edit

Edit a saved vendor payment with a Not Issued status.

Note   A vendor payment that has been issued cannot be edited; it can only be voided.

Void

Void a saved vendor payment with an Issued or Not Issued status.

Issue Payment

Click to issue a vendor payment. The following occurs:

Option

Description

Check

Print Checks dialog box opens.

Electronic Payment

Enter User ID and Password dialog box opens so you can connect to online banking.

Cancel Payment

Cancel an online vendor payment.

Mark as Issued

Change the status of a saved vendor payment to issued.

Transaction History

Open the Transaction History report for the open record.

Transaction Journal

Open the Transaction Journal report for the open record.

Related topics

Prepay a vendor bill

Enter a vendor bill

Select payments to issue

Applies To:



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