To record and send electronic payments

To record and send an electronic payment

Note: You must subscribe to MYOB Vendor Payments to make electronic vendor payments directly from AccountEdge

The Prepare Electronic Payments window should be displayed. (To find the Prepare Electronic Payments window)

From the Pay From Account list, select the bank account from which you want to pay these electronic transactions.

From the Select Payment By list, select the type of payment you want to pay; the list of payments that display will change according to your selection.

Enter other information about the payments you wish to make, including the date on which your bank should process the transactions.

In the Checkmark (Pay) column, mark the transactions you wish to pay.

Click the Process and Record button. You must be connected to the Internet to transmit the information in this window and receive an approval for each transaction.

A Payment Processing dialog appears, stating "Transmitting payments for processing." Below this text is a progress bar to indicate the transactions are being processed. Below the progress bar is a Stop button; click the Stop button to halt processing.

After the transmission, an Approved or a Declined status appears in the Status column for each transaction in the list.

Declined: If a transaction is declined, you should verify all the information you collected from the vendor or employee before you reverse or delete the transaction and handle the payment in a different way. A declined transaction remains listed in the Prepare Electronics Payments window until you correct inaccurate information, process it again and receive an Approved status or you delete or reverse it.

A `Processed Electronic Payments' dialog will appear for each Declined transaction. This dialog includes a code and description of the decline reason, as well as transaction ID #, the date, card name and amount of the transaction.

Approved: An Approved status indicates only that the initial authorization was successful.

There is an additional period of 72 business hours in which the funds are accessed, the destination account is identified and so on. During this period and through this process, the potential still exists for the approved payment to fail. Click the Get Update button to open the Online Error Notification window where any transactions that fail during this processing period are listed. When a transaction does appear here, see To handle a transaction listed in the Online Error Notification window.