After the transaction status on the purchase changes to Awaiting payment, the next step is to manage the Payment. In the Approval Menu, you can create a Payment request, Approve or Reject, and Authorize Payment on the purchase transaction. Here are the steps.
A. Creating a Payment Request
As a Payment maker, you need to create a Payment request first for the payment submission by following these steps.
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Go to the Approvals menu and select the “Payment requests” tab.
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Then, on the Request tab, click “Actions” on one of the data entries with the status Awaiting payment and select Create payment request.
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You will then be directed to the following screen. Fill in the data including Payment schedule and Destination Bank. Once all data is filled, click “Create payment”.
1. If you are using foreign currency, there are several additional fields you must fill out. These fields include Reason for transaction, Country, Phone number, Vendor address, City, Status/Province, Postal code, Account type, Bank name, Account number, and Account holder. These fields will adjust according to the selected currency.
2. In the Payment schedule, you can set the payment schedule for the Bills. The options in this field include:
- If you select Upon approval, the payment will be disbursed immediately once approved and paid by the Payment releaser.
- If you select On due date, the payment will be scheduled on the due date.
- If you select Custom date, the payment will be scheduled according to the chosen date.
3. If you have filled in the bank account name when defining the Vendor, the toggle for Existing bank account will automatically be active when you create the Payment request.
- However, if you want to use a new bank account, you can select New bank account. Then choose the Bank name and fill in your account number.
- By selecting New bank account, this new bank account can only be used for one transaction. Therefore, you need to save the new bank account name on the Vendors page. Once you have completed creating the payment request, the transaction status will change to Awaiting Approval. Then you can review the Payment request details again by clicking “Action” and selecting View details.
The following is the Payment request detail that will be displayed.
B. Approval on Payment Request
Once the transaction status changes to Awaiting approval, you as the approver of the payment request can perform Approval or consent for the transaction. Here are the steps.
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Go to the Approval menu and select the Payment approvals tab.
Select the transaction with status “Awaiting approval”, then click “Action”. Then click “View transaction details”.
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On the detail view page, you can see detailed information about the payment submission transaction for the Purchase invoice. If all the data is correct, click “Action”.
If you choose foreign currency, the following data will be displayed.
Then click “Approve payment request”.
C. Authorize and Pay
Next, if the transaction status has changed to Awaiting authorization, those of you with the role to authorize can perform authorization and payment for the transaction. Here are the steps.
- Go to the Approval menu and select the Payment request tab.
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Select the transaction with status “Awaiting authorization” then click “Action” and select View details.
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On the detail view page, you can see detailed information about the payment submission transaction for the Purchase invoice that is waiting to be paid. If all the data is correct, click “Authorize & pay”.
- If you choose foreign currency, the following data will appear. Click “Authorize & pay” to continue.
- Currently, you can perform Disbursement directly on international transactions without waiting for the Disbursement process from the Mekari Expense system. In this case, your company can directly disburse funds on the related bills transaction.
- As a note, please contact our support team first if your company wants to perform the Disbursement process independently. If the Disbursement process request has been approved, the following screen will appear when you want to disburse funds. Click “Mark as paid” to continue.
- Then the following screen will appear. You can fill in the Exchange rate at time of payment or enter the rate manually if you already have a specific rate. Then upload the payment proof and fill in the Payment notes.
- Next, click “Submit”.
- The Bills will be successfully paid and the transaction status will change to ‘Paid’.
That concludes the explanation on how to manage Payments on Bills through the Approval menu. Next, also learn about the overview of the Bills menu on the Mekari Expense website.