When you save vouchers, many edits and processes occur automatically. Any errors that SWIFT detects with a voucher are brought to your attention so that you can fix them immediately. A voucher will not pass through to the next step if it detects errors. Accounts Payable Life Cycle Steps. Step Activities 1. Voucher Entry Payables enter SWIFT online and through purchasing/ contracts, receivables or agency subsystems. Vouchers are created from direct entry, referencing purchase orders or a voucher build process. 2. Match Process Matching is the process of applying system match control rules against voucher, purchase order, and receiver documents, ensuring that an invoice being entered reflects the amounts ordered and received before it is approved for payment. 3. Budget Checking Budget checking is the process of validating the transaction against the available budget. 4. Approvals The approval process establishes that the voucher has been approved for payment processing in the system. The approval process picks up a voucher after it has been edited online or through the Voucher Build Application Engine process and is in a postable status. 5. Payment Issued SWIFT processes the steps necessary to turn bank account, supplier, voucher, and business unit information into actual payments. For valid vouchers, SWIFT typically generates payments during the overnight batch process. 6. Posted to General Ledger The Payment Posting process creates accounting entries from transactions, such as system-created payments, manual payments, warrants, electronic file transfer (EFT)/ACH payments, and canceled payments. Before you can transfer a voucher or payment to the general ledger, it must be associated with accounts. The posting processes create all accounting lines. Voucher accounting lines are created based on the distribution lines from voucher entry. Accounts Payable Voucher Preparation related
The Journal tab displays detailed accounting information from the General Ledger Journal. The General Ledger is the central repository of all financial transactions. It is considered the end point of all accounting transactions. Journal Information Journal Information Description Journal ID The GL journal credited and debited for the vouchers. Line The journal line number of the entries Journal Date The date the entries were posted to the GL. Budget Date The date the budget was charged for these transactions. Budget Status V = Valid. It should always be V. Primary Defaults to Y. It is not used. Accounting Date The entry date from the voucher. You have completed this topic. Payment Inquiry Topic Overview Use the Payment Inquiry module to look up payments either individually or in groups depending upon the search criteria you select. Payment details may only be viewed if the payments have been completed and posted. You can search on payments using specific search criteria to create a list of detailed payment information or display a chart of payments by date. You may use this module for helping: Vendors who call with questions about their payments. Managers who may want information about a particular payment or payments to a specific vendor.
Current Date if the Net Due Date has passed Note: In most cases, the Scheduled Due Date should not be manually overridden. Changing it to the Current Date can result in early payment processing. However, do not do this unless there are special circumstances. Appendix F: Match Exceptions Matrix Exception Description Cause of Match Exception Accounts Payable Resolution Buyer Resolution 100 No receipts found. No receipts were found for the purchase order (PO) specified on the voucher. Contact the buyer. The buyer should contact the person at the “Ship TO” location specified on the PO for further research. 130 Vendor/Loc not = PO Vendor/Loc The Vendor ID or the Vendor Location on the voucher does not match with the PO. If the Vendor/Loc on the voucher is different from the PO, contact the buyer to determine if the PO or the voucher should be updated. Update the Vendor or Vendor Location on the PO. 140 Voucher item not = PO item. The Item ID on the voucher lines does not match the Item ID on the PO Line. The defaulted Item ID should not be changed on the voucher. If there is a difference between the PO and the voucher, contact the buyer to determine which should be updated. Update the Item ID on the PO. 160 Vendor/Loc not = Receiver Vendor/Loc The Vendor ID or the Vendor Location on the voucher does not match this information on the PO receipt. If the Vendor/Loc on the PO is different from the receipt, contact the buyer to determine if the voucher or the receipt should be updated. If the receipt was manually associated with the voucher, remove the incorrect receipt and associate the correct one. Cancel the receipt and create a new receipt with the correct PO.170 170 Voucher item not = receiver item. The Item ID on the Voucher Lines does not match the Item ID on the Receiver Line. Do not change the defaulted Item ID on the voucher. If there is a difference between the receipt and the voucher, contract the buyer. If the Cancel the receipt and create a new receipt with the correct PO.