The EFT Acc/Pay Cheques section of Agrimaster is the Accounts Payable system for recording and managing how much is owed to creditors (suppliers), to whom and when the payments are due to be paid.
The Accounts Payable process is known as creditors and creditor control.
The EFT Acc/Pay Cheques section of Agrimaster allows you to:
- Enter all tax invoices (creditors/suppliers) due. Note: these can can be entered up to a 12 month period in advance from the current reconciled month.
- Pay Credit Notes generated and due from Enhanced Invoicing
- Enter manually or import Payroll payments (imported from a source such as Wagemaster)
- Make full or part payments and amalgamate payments, if you use the EFT (Electronic Funds Transferred) option. To setup the EFT payments feature, Click here
- Create reports such as:
- How much is owing for a specific time-frame or the overall accounts payable total owed
- How much is owed to each person/company, or for everyone listed individually
One of the many uses of Accounts Payable is entering in the purchases of chemicals or fertiliser and make payments on these Accounts Payable over several months.
Accounts Payable can be set up in the EFT Acc/Pay Cheques section of Agrimaster. The process for using Accounts Payable is slightly different if used with EFT or cheques.
Entering Accounts Payable or Wages payments
To manage your Accounts Payable, you must first enter them into the EFT Acc/Pay Cheques area in Agrimaster.
- At the Home Page, click Cash Book
- Click EFTAcc/Pay, Cheques
- Click the Add New icon
- You will now be in the Enter Cheques to print, EFT to send, Accounts Payable window
- Transaction Type: Select EFT Payment or Cheque
- Format: Agrimaster defaults to POST GST transaction. Select the required format from the drop down list.
NOTE: If paying wages, select the Wages and tax deduction. Prior to entering your very first payroll payment, you need to setup the Wages Tax Deducted area in Agrimaster. This is a once off action unless you change your PAYG reporting period to the ATO (i.e quarterly to monthly) or set up a new file Click here:
To learn how the data is reported correctly in the W1 and W2 Wages Tax and BAS reporting sections in Agrimaster Click here:
- From Bank A/C: Select the required account from the drop-down list or by typing the first few letters of the account name
- Pay/Send To: Select the person or company you are paying
- Last Date for Payment: Select the date you wish to pay the bill. If your file is set up for Accruals GST, enter the Tax Invoice date. (This should be the date on the actual invoice).
- Message (EFT max. 18): This field will complete automatically if the person you are paying is set up for EFT. If you need to change the message, it can be deleted or amended
- Complete the Code, Enterprise, Allocation, and Description. To progress through each of these fields, press the Enter key
- When entering the Amount $, check that the GST setting is correct for each split (check your Tax Invoice)
5. Ensure the GST portions, which are calculated on your Tax Invoice, are the same as the totals shown in Agrimaster
6. When entering Payroll payment, ensure the Wages Gross and Wages Tax deducted amounts entered are reconciled to your payroll program reports. This is how the data is reported on the W1 and W2 sections of the Wages Tax (PAYG) and BAS reports in Agrimaster and paid to the ATO.
7. Click the green tick or press F10 to save the data
8. Repeat the above format for any additional Accounts Payable or Payroll payments