Reference Payments Table
The Reference Payments Table is used to track individual payment transactions related to a specific reference document or transaction. This table is typically part of a larger document, such as a financial request, invoice, or expense report, where payments need to be tracked.
This guide will walk you through the fields in the Reference Payments Table and explain how to properly input and manage payment information.
Overview
The Reference Payments Table allows you to record payments made towards specific transactions or entities. It contains fields such as payment amount, currency, method, and account details. Each entry represents a unique payment instance, ensuring clear tracking and reconciliation of payments across your accounting system.
Field Descriptions
Below is an overview of each field within the Reference Payments Table and how they should be used.
Accounting System
- Description: This field indicates the accounting system used for the payment. By default, it is set to "Pastel." This field cannot be edited.
Amount
- Description: The amount of the payment. This field is required and must be filled with the payment amount in the specified currency. Example: 500.00
Currency
- Description: The currency in which the payment was made. This is a required field and is linked to the standard currency list in the system. Example: USD, TZS, EUR
Date of Payment
- Description: The date on which the payment was made. This is a required field. Example: 2024-10-15
Reference Number
- Description: A reference number associated with the payment, such as a transaction ID, cheque number, or receipt number. This field helps with tracking and reconciliation. Example: TRX-12345
Paid To
- Description: The entity or person who received the payment. Typically, this would be an employee or vendor. Example: John Doe
Payment Method
Options: Cash, Cheque, Bank Transfer
Description: The method used to make the payment. You must select the appropriate payment method from the available options. Example: Bank Transfer
Payment Account
Options: CRDB, Bank M, Stanbic Bank, Eco Bank, Petty Cash Fund, M-Pesa, Inter Africa, Yash International (Fuel Account), Mount Meru (Fuel Account), Petcom (Fuel Account), Vital Oil (Fuel Account)
Description: The account from which the payment was made. This is a required field and ensures the payment is correctly attributed to a financial account. Example: Stanbic Bank
Status
Description: This field tracks the status of the payment. It is hidden by default and set to "new" when a payment entry is created. The status can be used for workflow automation or tracking purposes.
Workflow
Adding a Payment Entry
When you need to add a payment to a reference, such as an invoice or expense, you will use this table to record each individual payment.
You will need to specify the amount, currency, date of payment, and other payment details to ensure proper tracking. Selecting Payment Method and Account
It is essential to select the correct payment method and payment account. These fields ensure that payments are processed through the appropriate channels and that accounting records remain accurate.
Tracking Payment Status
Although the status field is hidden, it can be useful for automated workflows, such as tracking payments that are pending approval, processing, or completed. Status changes can be handled programmatically or through manual actions in other parts of the system.