Payments

Owned by Mark Holland (Unlicensed)
Last updated: Sept 12, 2022 by Kelly CollinsVersion comment
2 min read

The payments module enables you to make payments for purchase invoices. In other words, you can make payments to contractors and suppliers.

Typically, you will make these payments once you have received an invoice from a contractor or supplier.

When you create the profiles for contractors or suppliers, you can specify the payment method to be used for them. Contractors or suppliers must be set up with a payment method of BACS or International BACS to use the payment module.

For contractors:

  1. From the menu, select Profiles > Workers.
  2. Either: Click Add, to create a new contractor; or select an existing worker from the list, and click the Edit button to the left of the worker record. 
  3. Ensure that the mandatory fields (which are marked with an asterisk) have been filled in. In the Payment Method field (in the Main tab), select BACS or International BACS.

For providers:

  1. From the menu, select Profiles > Providers.
  2. Either: Click Add, to create a new provider; or select an existing provider from the list, and click Edit at the top right of the Limited Company Provider Details page.
  3. In the Payment Method field (in the Invoice Details area), select BACS or International BACS.

Contractors and suppliers also have to have bank account details set up for them in order for BACS payments to be paid.

For more information on creating contractors and suppliers, see the Contractors and Umbrella Companies topics.

Can I pay a contractor/provider through an intermediary bank?

RSM InTime allows for secondary bank accounts to be added against contractors and providers should you need to pay them via an intermediary bank. This functionality is only available for HSBC XML payment files which will need to be set up as your BACS payment method under System Configuration > Invoicing and Payments > Payment Methods. It also requires system configuration by the Support team to enable the secondary back accounts. 

Related topics