Authorise Cheques or BACS

Use the Authorise Cheques command to display a list of outstanding invoices due for cheque payment. Cheques for those payments you authorise can then be produced using the Print Cheques or the Print Cheques & Remittances command.

Use the Authorise BACS command to display a list of outstanding invoices due for BACS payment. BACS transmission files for those payments you authorise can then be created using the Create BACS File command.

Depending on the range options that determine which supplier transactions are included, the Authorise Cheque Payments or Authorise BACS Payments selection form lists the transactions suggested for payment by the chosen method.

Transactions are included in the payment run because of one of the following:

because the invoice's due date has been reached

because the invoice is available for early settlement discount

because you selected either 'Cheque' or 'BACS' when posting a purchase payment using the Purchase Ledger - Processing - Payment form.

Box	Description
Bank	The bank account from which cheque or BACS payments are to be made. The payments are made in the currency of the bank account. If you use the multi-currency feature you can select bank accounts held in either Sterling or Euro. Euro payments can be paid only if these BACS payment software options are used: - STDBACS - AIB - BANK IRELAND - SEPA CT - SEPA BOI. These are defined on the Purchase Ledger - Utilities - Set Options form and on the Additional BACS Options form.
Default Banks Only	This option to only include suppliers that have the chosen bank account/s as the default bank account on the Purchase Ledger - Processing - Options form linked to the supplier record. Any suppliers that do not have a specific default bank will also be included if the ledger-wide bank account (on the Purchase Ledger - Utilities - Set Options form) is chosen in the Bank box.
Allow Multiple Banks	This option to include suppliers on the report that have the Multiple Bank A/C box ticked on the Purchase Ledger - Processing - Options form. All suppliers in the chosen range are then included on the report, even if the bank account on the supplier's record is different to those selected in the Range boxes.
Processing Date	The date to be used to determine the selection of transactions according to their due dates. The default date is the current system date.
NL Posting Date	The Nominal Ledger posting date if you use the Open Period Accounting feature. This is the date used to determine the period in the Nominal Ledger that the transaction is posted to. If the transaction is allocated to another transaction that generates an adjustment posting for either a foreign currency rate gain or loss or a discount, the adjustment also uses the same Nominal Ledger posting date.
Sequence	The criteria by which the grid form is displayed. If you choose Account, you can select a range of supplier accounts to include in the payment run. If you choose Type, you can select a range of supplier types to include in the payment run. Each supplier is optionally allocated a supplier type on the Purchase Ledger - Processing - Analysis form.
Use Sett Disc Terms To Calculate Due Date	You can select transactions up to a due date you specify and on the basis of a range of supplier accounts. If you select this box, the following occurs: If settlement discount has been included in the transaction then a further due date will be calculated. If a second settlement discount was included in the transaction then a further due date will be calculated. The application uses the transaction date plus the number of suggested payment days (as defined on the Purchase Ledger - Utilities - Set Options form) to calculate the settlement discount due dates. These further due dates are used to determine whether transactions should appear in the report and the reason. If any of the transactions' due dates fall between the date entered in the Processing date box and this processing date plus the suggested payment days, the transaction appears on the report. Example ... An invoice has a transaction date of August 1st, 2010. It includes settlement discount for both Days 1 (by 11 August 2010) and Days 2 (by 21 August 2010). The due date that was entered when posting the transaction is 31 August 2010. - The number of Suggested Days for Payments (on the Purchase Ledger - Utilities - Set Options form) is 3. - The Processing date is 10 August 2010. - The Use Sett Disc Terms To Calculate Due Date option is selected. The Suggested Payments report, Authorise Cheques and Authorise BACS commands will include the transaction with a reason of Settlement 1. The reason it does so is the 11 August (the first Settlement Discount date) falls between the 10 August (the Processing date and 13 August (10 August plus the Suggested Payment days of 3). If the Processing date is 20 August 2010, the invoice will appear as Settlement 2. If the Processing date is 29 August 2010, the invoice will appear as 'Due'.
Select Currency	The default for all currencies (ALL) will include transactions for all suppliers, or click to select the currency for the suppliers you want to include on the report. For example, to include only US Dollar invoices, select that currency from the list; to include only Euro invoices, select that currency from the list, and so on.
Include only if VAT Return Reduction By for Sett Disc is 'VAT Adjustment'	You may want to include only invoices that attract settlement discount and you post the discount for the reduction in the goods and VAT values, and adjust the goods and VAT values on the VAT Return, using a VAT adjustment posting rather than a credit note. What controls how Opera calculates VAT on invoices with prompt payment discount? From 1 April 2015, VAT in the UK must be calculated before any prompt payment discount (settlement discount) is calculated. Your VAT Return must be updated with the full VAT value when an invoice is posted, even if settlement discount is offered. How do you make sure VAT is calculated before prompt payment discount is calculated? If you use the EC VAT application ... Make sure the VAT After Discount (Settlement) option is selected on the EC VAT - Maintenance - Countries form. If you don't use the EC VAT application ... Make sure the VAT calculated before settlement discount from date is entered on the System - Maintenance - Company Profiles form. If the settlement discount is taken when an invoice is paid, an accounting adjustment must be made which does the following: post the discount for the reduction in the goods and VAT values adjust the goods and VAT values on the VAT Return. The accounting adjustment can be posted using either a credit note or a VAT adjustment after the receipt or payment is posted: In the Purchase Ledger you define on each supplier record how the adjustment will be posted. In the Sales Ledger you can define it either from the Sales Ledger - Utilities - Set Options form, or on each customer record. Important: Customers are set to 'Company Default' for this purpose, so each customer uses the default setting on the Sales Ledger - Utilities - Set Options - Settlement Discount Options form. Suppliers are set to 'Credit Note' by default for this purpose. You may need to change them if necessary.
Pay Type	Select from the available cheque or BACS payment types. The available types are displayed on the Purchase - Utilities - Payment Names form. Payment names that include 'Cheque' in the description are available on the Authorise Cheques form. Payment names that include 'BACS' in the description are available on the Authorise BACS form. Only suppliers with the selected payment method are included in the payment run. Each supplier's Pay By payment method is defined on the Purchase - Processing - Terms form.

Box

Description

Bank

The bank account from which cheque or BACS payments are to be made. The payments are made in the currency of the bank account. If you use the multi-currency feature you can select bank accounts held in either Sterling or Euro.

Euro payments can be paid only if these BACS payment software options are used:

- STDBACS
- AIB
- BANK IRELAND
- SEPA CT
- SEPA BOI.

These are defined on the Purchase Ledger - Utilities - Set Options form and on the Additional BACS Options form.

Default Banks Only

This option to only include suppliers that have the chosen bank account/s as the default bank account on the Purchase Ledger - Processing - Options form linked to the supplier record. Any suppliers that do not have a specific default bank will also be included if the ledger-wide bank account (on the Purchase Ledger - Utilities - Set Options form) is chosen in the Bank box.

Allow Multiple Banks

This option to include suppliers on the report that have the Multiple Bank A/C box ticked on the Purchase Ledger - Processing - Options form. All suppliers in the chosen range are then included on the report, even if the bank account on the supplier's record is different to those selected in the Range boxes.

Processing Date

The date to be used to determine the selection of transactions according to their due dates. The default date is the current system date.

NL Posting Date

The Nominal Ledger posting date if you use the Open Period Accounting feature. This is the date used to determine the period in the Nominal Ledger that the transaction is posted to. If the transaction is allocated to another transaction that generates an adjustment posting for either a foreign currency rate gain or loss or a discount, the adjustment also uses the same Nominal Ledger posting date.

Sequence

The criteria by which the grid form is displayed. If you choose Account, you can select a range of supplier accounts to include in the payment run. If you choose Type, you can select a range of supplier types to include in the payment run. Each supplier is optionally allocated a supplier type on the Purchase Ledger - Processing - Analysis form.

Use Sett Disc Terms To Calculate Due Date

You can select transactions up to a due date you specify and on the basis of a range of supplier accounts. If you select this box, the following occurs:

If settlement discount has been included in the transaction then a further due date will be calculated. If a second settlement discount was included in the transaction then a further due date will be calculated.
The application uses the transaction date plus the number of suggested payment days (as defined on the Purchase Ledger - Utilities - Set Options form) to calculate the settlement discount due dates. These further due dates are used to determine whether transactions should appear in the report and the reason.
If any of the transactions' due dates fall between the date entered in the Processing date box and this processing date plus the suggested payment days, the transaction appears on the report.

Example ...

Select Currency

The default for all currencies (ALL) will include transactions for all suppliers, or click to select the currency for the suppliers you want to include on the report. For example, to include only US Dollar invoices, select that currency from the list; to include only Euro invoices, select that currency from the list, and so on.

Include only if VAT Return Reduction By for Sett Disc is 'VAT Adjustment'

You may want to include only invoices that attract settlement discount and you post the discount for the reduction in the goods and VAT values, and adjust the goods and VAT values on the VAT Return, using a VAT adjustment posting rather than a credit note.

What controls how Opera calculates VAT on invoices with prompt payment discount?

Pay Type

Select from the available cheque or BACS payment types. The available types are displayed on the Purchase - Utilities - Payment Names form.

Payment names that include 'Cheque' in the description are available on the Authorise Cheques form.
Payment names that include 'BACS' in the description are available on the Authorise BACS form.

Only suppliers with the selected payment method are included in the payment run. Each supplier's Pay By payment method is defined on the Purchase - Processing - Terms form.