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Below is a narrative for the Make payment process of the accounts payable/cash disbursements process described in Chapter 13. Narrative Description The payment process begins

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Below is a narrative for the "Make payment" process of the accounts payable/cash disbursements process described in Chapter 13. Narrative Description The payment process begins with the periodic preparation of a list of payments that might be made at this time. The selection of items for this list is based on payment due dates and terms that may indicate a discount can be taken for a payment at this time. The proposed list is reviewed and amended to add additional invoices that are not due for payment yet but that can be consolidated with other payments being made to a vendor. Proposed payments may be removed from the list if there are insufficient funds or if payments to a vendor are on hold. The process of preparing the disbursement, which is equal to the amount of the invoice less any discount taken. The payment is recorded by: Marking the invoice as paid on the accounts payable master data. Making an entry in the cash disbursements event data store. Sending payment data to the general ledger where an entry is made to reflect the payment. Required 3 6. 4. 8. 7. 9. Item #7 a Issue and record disbursements Ob. Proposed payments C.General Ledger cash disbursements update d. Accounts payable master data .Prepare proposed payments . Approved payments O9.Select and record payments h. Cash disbursements events data

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