You can draw a promissory note automatically or in a journal. A promissory note always is based on an open vendor transaction with an status.

When you draw a promissory note, it appears as an open vendor transaction for the vendor. You can identify a promissory note transaction by using the , , , , and fields.

Note Note

When you transfer transactions to a journal, the way that due dates are handled depends on how you select the transactions. If you click > to select transactions using a query that is set up to select the total number of payments that are due as of a specific date, the date that you enter in the field is used for all transferred transactions. If you select transactions manually in the form, the latest due date of the selected transactions is used.

Draw a promissory note automatically

To automatically draw promissory notes for purchase order invoices that are posted for a method of payment, be sure that the check box in the form ( ) is selected. For more information, see Vendor methods of payment (form).

Draw a promissory note in a journal

To manually draw promissory notes for a method of payment, be sure that the check box in the form ( ) is cleared.

  1. Click > > > .

  2. Create a journal and click .

  3. Select the vendor account for the invoice and click > .

  4. Select the check box for an open transaction.

    Note Note

    To transfer open transactions to the journal by using a payment proposal, click > .

  5. Close the form.

  6. Click > .

    A promissory note and a related line with a status and a sequence number of 1 or greater is shown in the inquiry form. In the inquiry form, the number in the field is increased.

    When the journal is posted, the vendor summary account is debited and the Promissory note summary account is credited.

Print a promissory note document

You can draw and then print a promissory note document to send to a vendor. You can create promissory note documents in a draw promissory note journal. The process of generating promissory note documents is similar to the process of generating checks. For more information, see Make a payment by check.

  1. Click > > > .

  2. Create a journal.

  3. On the tab, select a bank account that has a layout for promissory note documents set up, and click .

    Note Note

    You can select from only active bank accounts.

  4. Select the vendor account for the invoice and click > .

  5. Select the check box for an open transaction and close the form.

    Note Note

    To transfer open transactions to the journal, click > .

  6. Click > .

  7. Select a promissory note document method of payment and click .

  8. In the form, enter the first number for the promissory note and the number of blank promissory notes, and click OK.

  9. In the form, click OKto print the promissory note document.

  10. Verify that the promissory note document information is correct.

    Note Note

    To cancel the promissory note document, click > . The status of the promissory note changes to . You can see the status in the form, which is opened from the form.

  11. Click > .

    Note Note

    If you cannot post and you receive an error message that mentions posting restrictions, you might be set up to post only journals that you created. For more information, see Posting restrictions (form).

See Also