Purpose
This reference guide is intended for the Payables Manager to stop a payment and void a payment.
Actions
Terminology
· Stop Payment: A stop payment requires the Payables Manager to initiate a stop payment request through the Chase portal and subsequently a stop within Oracle. This is necessary when a supplier is provided a check payment and the check is not in hand. All stopped payments require the payment to be voided following the Stop Payment actions.
· Void Payment: Voiding a payment sets the status of the invoice back to unpaid. When you void a payment, you have the option to leave the invoice as is, cancel the invoice or place a hold on the invoice. Payables automatically reverses the accounting within the General Ledger.
Stop a Payment
1. Log into Oracle using the Company Single Sign-On.
2. Navigate and select the Payables module.
3. Select Payments.
4. Select the Taskbar.
5. Select Manage Payments under Payments.
6. Enter any of the search criteria to locate the payment to be stopped or voided and select Search.
7. Select the Payment line.
Note: Payment Status should be Negotiable
8. Select Actions.
9. Select Initiate Stop.
10. Select and fill out Stop Date, Stop Reason, and Stop Reference. Select Submit.
11. Select Done.
You have now completed the process of Stopping a Payment.
Void a Payment
1. Log into Oracle using the Company Single Sign-On.
2. Navigate and select the Payables module.
3. Select Payments.
4. Select the Taskbar.
5. Select Manage Payments under Payments.
6. Enter any of the search criteria to locate the payment to be stopped or voided and select Search.
7. Select the Payment line.
Note: Payment Status should be Negotiable
8. Select Actions.
9. Select Void.
10. The Void Date and Accounting Date will default to today’s date. You can alter as necessary. Select the appropriate Invoice Action. Options are Cancel Invoice, None, or Place hold on invoice. Select Submit.
11. Select Done.
You have now completed the process of Voiding a Payment.