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Can any body give the clear information and steps about Zero Payement Method.



Regards,
Deepu

Hi,

I hope I can clarify your doubt. Sometimes business will cancel the invoices after they entered in AP for various reasons. Even though the invoices are cancelled but these invoices would show in the Invoice aging report. To remove the invoices from Invoice Aging report, we will make the Zero Payments.

To make the Zero Payments, we need to define a Bank A/c that alllows the Zero Payments and attach the Payment Format that allow only Zero Payments.

I think these are the two set ups to perform the Zero Payments.

Please any one let me know if i am wrong.

Thanks,
Amar

<b>Zero-Amount Payments</b>

1) Usually we creates zero-amount payments to pay invoices with offsetting credit or debit memos.

2) To record cancelled invoices as paid so they are no longer included on the Invoice Aging Report.

Steps: Before you make a zero-amount payment

Step1:- you must enable the Allow Zero-Amount Payments option for the bank account you will use to create the payment.

Step2:-You can create a payment document defined for zero-amount payments only.