Friday Feature – Prepay Employee Payments

Last Friday, we talked about prepaying requisitions associated with a vendor requisition. Now, let’s talk about the other side, prepaying for items that are not associated with a vendor requisition, or as we like to call it — a direct payment or an employee payment.

These prepay payments have the same types of rules as the prepay vendor requisitions: accounts have to be rolled forward and multiyear processing has to be turned on.

The processing of these payments is also super easy, just like the vendor requisitions.

For example, let’s say Celeste Michaels, an employee, has a conference she’s attending in July but needs to have her per diem before she leaves. This is what we would do:

Notice how the fiscal year and the invoice date are not the same. This is the essence of a multiyear payment.

Escape Online will automatically create the liability and expense journal entries for each year when the payment is processed.

The ability to achieve this most awesome feature is controlled in the Organization record. The system manager can decide when the prepayment extravaganza begins.

Some organizations do not enter any dates in these fields; thus disallowing multiyear processing for employee payments. Others enter May 25 or June 25.

Escape Online provides separate dates for employee payments and direct payments, and for each department’s vendor requisitions (e.g., purchasing and the business department both set up multiyear processing, but each wants a different start and end date).

That’s the kind of flexibility you need for year end!