5.3 Select Payments (05030m)

Background

Muli's objective is that all payment requests (invoices, subcontractor claims, etc) are received by Head Office and entered through the Unapproved Invoice module. The project manager should process the invoices within 3 working days and either agree payment or produce the relevant subcontractor pay advice or request for credit and forward same to the Accounts department for processing. Therefore, within a week of receipt, payment requests should be fully processed in Accounts Payable and be recorded in the Selected Payments Report.

The payment selection process aims to select from all the Accounts Payable, the payments that are due to be paid at a given cutoff date (Due Date), so that the relevant payment processing can be completed.

It is recommended that project companies clearly establish a payment cycle. For example, each week on a Thursday, a full payment selection is completed, rather than many small payment runs. With some companies, even 2 major payment runs per month is appropriate.

The Payment Selection Process

Invoices may be selected for payment processing by Supplier (Organisation) or project.

The selection process creates a sort file for the management of the payment process. Payments may be added to or unselected from the file prior to final processing and payment made by remittance advice, computer cheque or direct deposit.

While there may be a number of companies in the group, the selection process may be applied across companies to enhance group cash management facilities.

In Muli, a number of controls exist that may restrict payment. These controls are explained at the bottom of the payment selection report.

Company - All/Single
Supplier - All/Range
Profit Centre - All/Single
Acc processing pt 230 - All/Range
Project - All/Single
Include Payments to Due Date of
Expected Pay Date
Include all failures for payment - Yes/No
Include XO failures - Yes/No
Include Foreign Currencies - Yes/No

Clear Selected Payments

View Selects Payments