Vendor Payment Flows through multiple cash accounts

Question

Hello,

So our client has sent us this issue and I am trying to think of the best way to process. They are out today so I do not have all of the details, but my understanding is that they have multiple bank accounts involved with a vendor payments.

So they will create a payment and the amount flows through Cash Account #1 to Cash Account #2 and then the vendor is paid. They need the payment to hit each account so that they can reconcile at the end of each month. The only way I could currently think to do this would be to have Cash Account #1 pay the vendor and then create a manual entry for Cash account #2 to show the amount flowed in and out. I checked the clearing account in Acumatica but the notes said that is only for AR. I am not sure if I am missing a feature or if anyone else has implemented a better solution for this?

Any ideas?

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Best answer by Laura02 7 July 2023, 01:31

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Laura02 · Accepted Answer

Hello @rebeckamckinney53 ,We can’t pay a vendor from more than one account at the same time, or link two bank records as the ‘paid from’ source of a check.We may need more details once you speak to your customer, to assess this situation correctly, but I will try.Perhaps they keep one bank account with little cash (“Small Bank”) out of which vendor payments are made. They keep a second bank account with lots of cash (“Big Bank”). Shortly before or after cutting checks, a transfer is made from Big Bank to Small Bank in the amount of today’s check run.Transfers can be entered in Acumatica Banking module to move the cash.Both Big and Small account can be reconciled.You are correct: neither of these accounts is a Clearing Account.Laura

Vendor Payment Flows through multiple cash accounts

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