Disbursing Vendor Payments

The Check Disbursal window lets you disburse vendor payments. To access the Check Disbursal window, click General Ledger within the Accounting menu on the Portico Explorer Bar. On the General Ledger menu bar, click Accounts Payable, then click Check Disbursal.

How do I? and Field Help

Complete the following steps to disburse a check.

1. To disburse a check to a vendor, enter the vendor code in the Vendor Code field and click the green arrow (Length: 6 alphanumeric). To disburse a check to a member, enter the member number in the Member Number field and click the green arrow (Length: 12 numeric).
2. Click the Effective Date down arrow to select the effective date of the transaction from the pop-up calendar or enter the date in MM/DD/YYYY format.
3. Enter a description of the transaction in the Description field. Length: 40 alphanumeric
4. In the Transaction Area grid, enter the general ledger account, branch, check amount, and description of the transaction. The Check Total field will display the total amount of the payment(s).

Column Heading	Description
Exclude	Select the Exclude check box to exclude a line item without deleting each field.
GL Account	The general ledger account to debit for the check amount.
Branch	The branch associated with the general ledger account.
Amount	The amount of the disbursal.
Description	The description of the disbursal.

5. In the Check Payee group box, enter the name and address of the vendor or member.

Field	Description
Name	The name of the payee. Length: 35 alphanumeric
Print Envelope icon	Click the print envelope icon to print an envelope for the payee.
Address 1	The first line of the check recipient's address. Length: 35 alphanumeric
Address 2	The second line of the check recipient's address. If the Address is Foreign check box is selected, the foreign city's name must reside in the Address 2 field and the foreign country's name must reside in the Address 3 field. Enter the foreign country code in the Address 3 field. For Canada, enter the province code in the Address 3 field. Length: 35 alphanumeric
Address 3	The third line of the check recipient's address. If the Address is Foreign check box is selected, the foreign city's name must reside in the Address 2 field and the foreign country's name must reside in the Address 3 field. Enter the foreign country code in the Address 3 field. For Canada, enter the province code in the Address 3 field. Length: 20 alphanumeric
ZIP	The postal ZIP Code for the address listed. For domestic addresses, the ZIP code must be either 5 or 9 digits. For foreign addresses, the ZIP code can be up to 10 characters. If the Address is Foreign check box is not selected: A valid ZIP Code must be entered without the dash. Alpha characters are not allowed. If the Address is Foreign check box is selected The ZIP Code field is optional. Alpha characters are allowed. Length: 9 numeric (10 alphanumeric if the Address is Foreign check box is selected.)
Address is Foreign	Select this check box if the address is in a foreign country. If the Address is Foreign check box is selected, the foreign city's name must reside in the Address 2 field and the foreign country's name must reside in the City field. In the State field, enter the foreign country code. For Canada, enter the province code in the State field.

6. In the Check Number field, enter the number of the check (Length: 6 numeric). Then, select the Valid Check Number check box to confirm the check number.
7. Click the Check Type down arrow to select the type of check to produce.
8. In the Check Stub field, enter a description of the payment to be printed on the check stub line. Length: 40 alphanumeric
9. Click Submit to disburse the payment.

When issuing a cashier’s check, click Submit on the Check Disbursal window to enable the Check Writer button. Click Check Writer to display the Check Writer dialog box and specify the purchaser name in the Cashier’s Check Purchaser field.

Click Reset to clear the fields.

If the Accounting – Accounts Payable – Check Disbursal – Turn Off Print Check security permission is added to your security group, a Print Check check box will appear in the Check Information group box to let you choose whether to print a physical check.

To reverse a transaction, select the Reversal check box. Then, enter the computer-assigned number of the transaction you are reversing in the CAN field (Length: 7 numeric). If desired, select the Return Checks to Inventory check box to return a reversed credit union check to inventory. Then, click Submit.

In the Transaction Area grid, select the Exclude check box to exclude a line item without deleting each field.

Click the general ledger account list icon button to open the GL Accounts – List window and view the GL account list.

Click the vendor information icon button to open the Vendor Information window and maintain the vendor information.

Click the vendor list icon button to open the Vendors window and view the vendor list.

Click the vendor disbursal history icon button to open the Vendor Disbursal History window and view the vendor history.

Click Add Asset to display the Asset Information window and add a new asset.

Click Add Prepaid Expense to display the Prepaid Expense Information window and add a new prepaid expense.

General Ledger Effects:

• CREDIT XXXXXX General ledger account specified on the Checks Disbursal tab
• CREDIT XXXXXX Checks disbursed general ledger specified on the Open tab for the check amount

If the teller branch is different from the general ledger branch specified on the Checks Disbursal tab, then the system will perform an offsetting entry to the interbranch general ledger designated in the Inter-Branch GL Clearing Account field in the Expanded JV Options section on the Credit Union Profile - Accounting tab.

Related Reports: Financial Transaction Register Report 420

Teller Balancing Effects: For checks disbursed, on the Balancing and Close tab, Portico adds the transaction amount to the Other Disbursements Amount field and the Checks Disbursed field.