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Please note that if the disbursement you are entering is dated in the past, there is a chance that this will break bank reconciliations for the account you enter it to if they have already been reconciled. If unsure, please enter past disbursements as recoveries. |
How to Make a Disbursement Payment
From the Accounting and Finance Module, select the 'Make Payment' button under the Disbursements heading. It will give you the option to Pay now or Pay later. If you are deferring the payment to your Accounts Payable department, select the Pay later option.
Otherwise, for credit card, cheque or other payments, select the pay now option. From the Disbursements Register, the Pay Now or Pay Later buttons are at the top of the screen, under the menu bar.
Note: Anticipated disbursements are not required in Wise Owl Legal because we have a full functioning accounts payable module.
Depending on which option you select, the account field will auto fill accordingly. You will then need to fill in the required fields. The first field, Pay to Contact is the supplier or vendor that you made the purchase from.
If this is a contact that had been set up, their details will auto-fill to the pay to name and pay to address fields. The date field will default to today's date.
Ensure you thoroughly check all the options are ticked and filled out correctly. The tax code will auto-fill dependent on which Item you choose.
It is very important to put the amount into the right field depending on if it is a tax inclusive or exclusive amount.
When saving the Disbursement, there are multiple options. If you know that this disbursement is correct and ready to be sent to your accounting system, the status should be 'confirmed'.
The draft status is used when it is not ready or might need editing at a later date.
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NOTE: Draft disbursements will NOT be available to be billed. You must confirm them to have them appear to be billed. |
Select Create Disbursement at the bottom left or Save disbursement at the top right to complete the disbursement. You can also select Create and New if you have more disbursements to enter.
