Setting Up Accounts Routing for Paid Cheques (Notes Payable)
The paid cheque account routing determines the intermediary account (Notes Payable) in which a cheque is recorded after you hand it over, until it is collected. The system can automatically use a single account for all cheques, or you can specify the account for each cheque.
Required permissionsPermission to edit Accounting settings.
How to accessDirect link: Cheques Accounts Routing. Or go to Accounts Routing settings > Cheques tab.
Article Contents
Routing Options
| Option | What Happens |
|---|---|
| Automatic assignment (default) | All paid cheques are recorded in the Notes Payable account that the system creates under Current Liabilities. |
| Assign per cheque | The Notes Payable Account field appears in the cheque issuing form, so you can choose the account for each cheque. |
Steps to Set Up Routing
- Open Cheques Accounts Routing.
- In Paid Cheque Account Routing Type, select Automatic assignment or Assign per cheque.
- Click Save; the message Routing saved appears.
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Note: The Cheques tab in Accounts Routing appears only when the Cheque Cycle app is enabled. The same page also includes Received Cheque Account Routing Type for received cheques.
Effect on Cheques
- The routing applies to the handover, collection, and rejection entries.
- With Assign per cheque, if you leave Notes Payable Account empty on the cheque, the default Notes Payable account is used.
Frequently Asked Questions
Where do I find the Notes Payable account?
In the Chart of Accounts under Current Liabilities. The system creates it automatically.
When should I use Assign per cheque?
Use it if you want to separate notes payable into different accounts for each bank or cheque type.