How to make payment against invoice using Payment Journal

Payment Journal

To open Payment Journal, select Financial Management --> Cash Management --> Payment Journal

Payment Journal is used to post the payment to be made to the Vendor.

Steps to be followed when entering journal and applying the entry to invoices.

1. Enter the Posting Date.
2. Select a Document Type of Payment.
3. Leave the Document No. field as it is.
4. In the Account Type field, select Vendor.
5. Select the Vendor No. to whom amount is to be paid.
6. In the Amount field enter the amount to be paid
7. In the Balance Account Type field, select Bank Account.
8. In the Bal. Account No. field, select Bank from which the amount is to be paid.
9. If the amount paid is for single invoice, then select invoice in the Applies-to Doc. Type field and press F6 in the Applies-to Doc. No field to select the invoice No. to which the amount is paid. Here we can select only one invoice to that entry.
10. If the amount is paid for multiple invoices, then find under Home => Apply entries to open the Apply Vendor entries window. This window displays all the open entries of that Vendor.
11. Select the Invoices for which the amount is to be paid and click Application => Set applies-to ID.
12. Click Ok to return to Payment Journal
13. Click Post => post the Payment Journal.