ctcLink Reference Center9.2 Finance9.2 FIN - Accounts Payable Resources9.2 Accounts Payable Checklist & Process Steps Guide

9.2 Accounts Payable Checklist & Process Steps Guide

Purpose:  Use this document as a reference to assist in the standard or end-to-end processes in chronological order for the specific Finance module.

Audience:  Finance Staff/Administrators

The following spreadsheet below provides the standard key processes to Accounts Payable: such as Supplier Setup, Vouchers, Payments and 1099 processing.

Accounts Payable Checklist and Process Steps Guide

Or for better accessibility, use the following drop-down checklist style for the Accounts Payable Checklist & Process Steps Guide:

Supplier:  Set Up and Review Checklist

To view inserted information, select the down facing arrow on the right of the checklist title.   

Purpose:  This document outlines a step-by-step process for Set up and reviewing information for FIN Suppliers.

Audience:  Finance Staff/Administrators

Note: Query "QFS_AP_VENDOR_LIST - Vendor List" can be used to see the list of Suppliers with your location in it.

Review the Supplier you want to pay exist in the database. Suppliers are shared, please verify the supplier and do add/update as needed.

Related QRG(s)

Add/Update location to existing Supplier. If the Supplier exists in the database and your location is added then verify and if needed modify or if it's missing then add our location.

  • Add a Supplier if it doesn't exist in the database.
  • Supplier sales/Use Tax Setup:  While adding new supplier you can setup default sales/use tax or else it will default from higher level.
  • Supplier ACH Payment Setup: A Supplier must be set up to receive ACH or EFT payment before the voucher is created.

The Suppliers are set up globally so this can be used as a reference for generating a summary of field changes made to the supplier for a period of time in ctcLink.  Note: The audit occurs only for existing suppliers.

END

Voucher Entry & Processing Checklist

Purpose:  This document outlines a step-by-step process for voucher entry and processing vouchers.

Audience:  Finance Staff

To view inserted information, select the down facing arrow on the right of the checklist title.  

  • Manually entering regular voucher in the system.
  • Creating voucher by sourcing a Purchase Order
  • Quick Invoice Vouchers are entered by non AP staff.
  • Vouchers that are coming over from other modules and pillars like Payroll, SF Refunds, P-Card, AR Refunds, etc.
  • Run Budget check on ad-hoc from the Voucher page.
  • Run budget check on all the eligible vouchers in batch.
  • Matching voucher with PO on ad-hoc.
  • Matching voucher with PO in batch.
  • Submit voucher for approval on ad-hoc.
  • Submit voucher for approval in batch.
  • Post Voucher on Ad-hoc:  Post voucher on ad-hoc from the voucher page to generate the accounting entries.  **TEMPORARILY NOT AVAILABLE/IN PROGRESS
  • Post Vouchers in Batch:  Post vouchers in batch to generate the accounting entries.

END

Payments Checklist

Purpose:  This document outlines a step-by-step process for making payments.

Audience:  Finance Staff

To view inserted information, select the down facing arrow on the right of the checklist title.  

  • Run AP Paycycle for Vouchers Payments and EX Pay Cycle for Cash Advances and Expense Reports payments. Note: The paycycle will only pick those payments whose schedule pay date falls between the pay cycle selection date.
  • Express Payments run an immediate pay cycle.
  • Record payments on a voucher is used when a payment is made outside CtcLink and recorded in the system to create accounting entries.
  • The Manual Payment Creation feature enables you to track manual payments in your PeopleSoft Payables system by creating manual payment worksheets and applying one or more vouchers to them.
  • Record a manual payment.
  • Post payments process creates the accounting entries for the payments.

Related QRGs

  • Payment Inquiry page is used to review payment information by Pay cycle, Payment Method, Payment status or for a range of Suppliers or Payment date.
  • Use the Cancel Payment page to cancel payments, reverse a cancellation, or view previously canceled payments.
  • Escheating happens when the check is going to be remitted to the state. So, first you escheat the check and second you create a new voucher for that payment to be sent to the state.

END

1099 Checklist

Purpose:  This document outlines a step-by-step process for processing 1099.

Audience:  Finance Staff

  • Withholding information can be added to Supplier information at any time, but it is recommended that you add the information when adding the Supplier to the system.

To view inserted information, select the down facing arrow on the right of the checklist title.  

  • Enter withholding vouchers
  • By posting the payments, the system updates Supplier account balances and creates balanced accounting entries for all payment-related transactions.

Related QRGs

  • Report Control Information is used to set up transmitter and payer information, such as company address, phone numbers and payer numbers, Suppliers and business units that will be included in reports, and piggyback states. This is something that should be done for each year’s 1099 Processing, even if you ran 1099 Processing in PeopleSoft the previous year.
  • This process combines the voucher and payment information in the withholding transaction tables. The system then uses these tables to generate the Withholding reports.

Related QRGs

  • Vouchers by Supplier process to view all of the Supplier withholding transactions by Voucher.
  • Withholding Payments page enables you to review all payments and associated vouchers made to withholding entities by Supplier.
  • The Supplier Balance by Class allows you to review Supplier total withholding transactions by class over a specified period of time.
  • Withholding Balance for All Suppliers - Use the CTC_AP_1099_ALL_WITHD_BALANCE query for a list of all Withholding balances for all Suppliers by Business Unit and Payment date. (See below)

Related QRGs

  • The Withholding Mismatch report (APX9010) enables to you identify voucher lines on which the withholding applicable flag does not match the withholding flag on the supplier.
  • The Withholding Supplier Update process is used to change Withholding applicability, entity, type, jurisdiction, and/or class. When you use this type of update, the system will apply the update to all vouchers for that particular Supplier.
  • The Withholding Invoice Line Update process can be used to update withholding information for a withholding Supplier at an invoice line level.
  • The Update Withholding process must be run after making changes using either the Withholding Supplier Update Process or the Withholding Invoice Line Update Process.
  • You can adjust withholding manually if necessary. This process is for manually adjusting posted withholding transactions by Supplier or adding withholding entries from a legacy or third-party system.
  • This process creates a flat file for the IRS and populates the “Withholding to Send” and “Copy B” tables. The system then uses the data to create a file for the tax entity, or IRS, and forms for the Suppliers.
  • The 1099 Withhold to Send Detail Report lists all the information created by the 1099 reporting process and is a replica of the data in the file that you are sending to the IRS.
  • When you are ready to send your IRS file, you will need to send it electronically to the IRS.
  • The final step in the entire 1099 process is to run the WTHD_SENT Process, which is the Withholding Sent File.  Note: Do not run this process until you have sent your file to the IRS and received confirmation of successful transmission.

END

You are done. Great job!

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