Paymaents

Manual Checks

Automatic checks

Transfer to BCC

Paging through checks and payments by Bank clearing center

Check Printing Orientation

WizCount allows two Means of Payment:

  • Payment by Check – the software prints the checks.
  • Payment by Bank Transfer – the software creates the file of payments to the Bank Clearing Center.

Checks can be issued in two methods – the Automatic method and the Manual method. In the Automatic method, the software issues payment suggestions based on accounting data. The user can then correct these suggestions and, once approved, the software will print the checks. In the manual method, the software functions as a word processor – the check details are typed in and the software prints them.

To make payments using one of the methods above, select the Payments menu. The following chapter provides information about the items in the Payments submenu.

Issue Checks Automatically

Usually, checks are issued to vendors. However, checks can also be issued for other accounts (e.g. a check to a customer for a refund invoice). Vendor cards are discussed later in the chapter. However, as previously noted, checks can also be issued for other Cards.

Before issuing the checks, internal matching must be carried out for the NIS balances in the vendor cards. Following this process, the software will close paid purchase invoices and unpaid purchase invoices will remain open. The payment suggestions will be based on these open transactions.

In the Transactions Filtering tab, set the filtering of accounts and transactions for payment.

In the Open Transactions tab, WizCount displays the non-matched transactions on the screen. Correct the payment dates or the payment amounts as necessary. The number of transactions is limited to one thousand.

The Checks Summary tab, WizCount displays suggestions for checks. At this point, the checks can still be corrected.

Finally, after final approval, WizCount will issue the checks and update the accounting data. These steps are carried out on the screen below.

 

Transaction filtering

This screen is where you set the filtering of the transactions for payment.

Which Debts to Pay: The top section is where you set the debts to be paid. Transactions for Payment may be set by limiting Dates, References, Batches or Transactions Types. For example: To issue checks against invoices due in August 2020, the Due Date should be limited as follows: From 01/08/2020 To 31/08/2020. (It is generally advisable to limit only the To field, in order to include debts from previous months).

Which Vendors to pay: in the bottom section of the screen set the list of vendors to be paid. WizCount allows you to set the vendor filtering by limiting the range of Sort Codes, Filtering and Account Keys. Another option is to set the vendor filtering using their Main Account.

For example: If you want to issue checks for Account Cards, in which the Main account field is Vendors, remove the  ✔sign next to All, and then click the arrow sign to select Vendors.

You can clear all the fields in the screen by selecting the Default button.

When you have finished setting the transactions filtering, Select the Open Transactions button. The Open Transactions tab will display the Open Transactions for payment according to your set filtering.

 

Open Transactions

The transactions for payment are selected in the Open Transactions tab. In this window, you can also change the Due Date (date of payment), References, Details and Amount for payment.

The open transactions are displayed in the window as shown in the following example:

Number

The row number in the Open Transactions table.

Transaction

Accounting transaction number.

Account

Account ID in accounting.

Date

Reference Date

Due date

Due Date – Check payment date. This date can be corrected.

Reference

First Reference. This reference can be corrected.

Reference 2

Reference-2 (usually the vendor invoice number). The value of Referece-2 can be corrected.

Details

Details according to the Journal Entry. The details can be corrected.

Amount

Total amount of debt (vendor invoice amount including VAT).

 

This column is where the Transactions For Payment in the current issue are selected. (You can also enter the amount for payment in the next column. WizCount will automatically update the current column).

To be paid

The amount for payment. The amount set cannot be higher than the debt amount, but a partial payment can be made.

To continue, select the Recommendations for check issuing button.

Recommendations for check issuing

Check Issue Date

Check Issue Date. This date is recorded in the Journal Entry in the Reference Date field. This is the binding date for withholding tax.

% withholding tax when validity expired

The %Withholding Tax for vendors who do not have a valid certificate. If you select the Fix button, WizCount will save the % withholding tax entered in this field as default.

Remarks at the bottom of the attachment

Notes to be printed in the bottom section of the Attachment. Among other information, you can print the account name.

Print “To The Payee Only” On Checks For Vendors Filtering: This field is used to set the filtering of vendors which require the words “To the payee only” to be printed on their checks. On these checks, WizCount will print “A/C <Vendor Name> Only”. (In tradable checks WizCount will print “A/C <Vendor Name>” without the word “only”).

Print Phone Number On Checks For Vendors Filtering: The filtering of vendors which require their phone number, as stated in the vendor card, to be printed on their checks. This filtering is determined by the Filtering field in the Account Card.

Default Additional Date: This filtering determines which date will be updated in the third Date field of the calendar transaction. The options are: Check Issue Date, Check Payment Date, or any other date entered manually.

To continue, select the Check Summary button.

Check Summary

In this tab WizCount will display all the transactions selected for payment.

No.

The row’s serial number.

 

Check this checkbox to issue a check containing the data in this row.

Account

Account ID.

Account Name

Name of payee – this name can be changed.

Due date

Check Payment Date – this data can be changed.

Withholding Tax %

% Withholding Tax as stated in the Account Card.

Gross Amount

Full amount for payment (withholding tax included).

Withholding tax Amount

The amount of withholding tax.

Total Amount to pay

Final amount for payment (Gross Amount minus Withholding Tax Amount).

 

Split

Split the payment into several checks. When you choose the gray Split button, WizCount will display the following options:

 

Distribution of the amount into several equal payments. In the popup, indicate the number of desired payments and select the Split button to continue.

By Split Payments Code: The payments will be split according to the Split Payments Code as recorded on the Account Card. If a particular Account Card has no Split Payments Code, you will be notified in the notifications window at the top left side of the screen.

To see all the check data, place the cursor in the Number column of the check row and click the check number to display it on the screen. WizCount will display the check preview on the screen.Check Details

WizCount displays all the check data that will be printed. The following details may be changed:

× Account name, address, city and phone number

× Check issue date and payment date

× A/C Payee only / A/C payee

× Print phone number

× Details

× % Withholding tax and amount of withholding tax

× Added notes at the bottom of the check

When done, click Update Details and then select Back to Summary to return to the Check Summary screen.

Checks Issue

Enter the required data in the Checks Issue tab.

Bank Key

The Account Key of the bank that the checks are issued from. The Bank Key is only entered in this step, because the bank that the payments are made from does not need to be decided in advance. After selecting the bank, the appropriate check paper should be loaded into the printer (see details regarding print paper at the beginning of this chapter).

Transaction Type

The Transaction Type that will be recorded in the Journal Entries for issuing the checks. The required Transaction Type structure is described bellow:

 

=== Debit====

==== Credit ======

 

Account

%

Account

%

?

100

Bank

100

  

Withholding tax

 0

       
       

This type of Transaction also applies to cases where the % Withholding tax differs from 0, because WizCount will update the journal entry with the amount stated in the check.

Numbering From-

The serial number of the first check. The number must be copied from the check paper. The numbering advances automatically after each issue.

Printing Order

You can select the order in which the checks are issued. You may choose any of the following Sort Fields to set the checks printing order: Account Key, Account Name, Check Amount, Check Due Date, Check Issue Date.  The checks printing order may only be set by the user when the checks are not split.

Landscape Orientation

The default in WizCount for issuing checks is to print the checks in the portrait orientation and include only the Original check (copies are printed on white paper). This checkbox should be checked when the check paper ordered from the printing office is in the landscape orientations and includes the Original on the left side of the page and a copy on the right.

Paper with negotiability limitation

In accordance with the Bank of Israel Directive, as of 01/03/2002 when pre-printing on check paper with tradability limitations (non-transferable, A/C payee only), the following note must be added in a noticeable manner: “No changes may be made in this check after it has been issued except a change of date or amount”. The application of this directive varies between the banks, both in the Style of the notice and the position of the notice on the check. Because of these differences among the banks, WizCount operates as described below:

If the Paper with negotiability limitation checkbox is checked, the software assumes that the tradability limitation notice was printed by the printing office. If this checkbox is not checked, the tradability limitation notice will be printed next to the text “To the payee only” within a frame. By default, WizCount print the notice in the style previously mentioned as dictated by the Bank of Israel. If you want to change the content of this notice, click the button next to this field. WizCount will open a popup where you can rephrase the Tradability Limitation note. (Click the Default button to return to the BOI original note style). When you open a new Bank Account Card, you can enter the bank’s notice style. It is recommended to update this field in Bank Cards that were opened prior to the directive’s entry into force.

Update Bank Details

Click this button after changing the bank information, such as a Numbering or Transaction Type, to save the changes as the default for the next issues.

New

Click this button to enter the information of a new bank.

Delete

Select this button to delete the current bank data.

Finally, select the Issue button. Now, WizCount will print the checks one by one
.

Issue Checks Manually

Checks can be issued in two methods – the Automatic method and the Manual method. This chapter describes the manual method (the automatic method is described above). In this method, checks are issued by manually entering the check information (as opposed to the automatic method where checks are created based on invoices that are open for payment). The software prints the check and updates the journal transaction in accounting batch number 9999.

In the Issue checks manually tab set the defaults in the following fields:

Check Date

The check issue date will be recorded in the journal transaction as the Reference Date.

Payment Date

The check’s Payment Date.

To The Payee Only

Select this option if you want the words “To the payee only” printed on your check. The printing will be phrased: “Pay Only”.

Print Telephone Number

Check this option to retrieve the phone number from the Vendor Card and print it on the check.

Print account name in Details field

Select this option if you want the software to copy the Account Name (that the check is issued for) into the first line of the Notes field. This name will also be copied into the Details field of the journal entry in accounting.

Permanent 

Details /

Additional Details

In these sections, you can enter details to be added in the second and third rows in the check Notes field.

Check record details

Default details to be printed in the check attachment lines.

After selecting Continue, a popup will request that you enter the Account ID of the account for which you are issuing the check.

Account

Vendor Account ID.

Check Issue Date

Printing Date. This is the effective date for the withholding tax report.

Check Date

The check payment date.

To The Payee Only

This checkbox determines whether the check is tradable or not (see further information in chapter Issue Checks Automatically above)

Print Telephone Number

Check this option to print the vendor’s phone number on the check.

Details

Details referring to the amount shown on the right. For example: Invoice number 26501.

Remarks

Notes to be printed at the bottom section of the check.

Amount

The amount for payment.

% Withholding Tax / Amount

The % withholding tax shown here is retrieved from the vendor’s Account Card. The amount and percentage can be changed.

Amount For Payment

Amount for payment (after withholding tax).

Withholding Tax

After entering the vendor’s Account Key, WizCount will check if their withholding tax certificate is still valid. If the confirmation is expired, a popup will appear.

Select Account% to issue the check with the existing % of withholding tax; Alternatively, select the Change %Withholding Tax To option and enter the correct %Withholding tax value. If you click the Fix button, the %withholding tax you have entered will be saved as the default for the next issue operations.

Manual Checks

Bank Key

The Account Key of the bank that the checks are issued from. The Bank Key is only entered in this step, because the bank that the payments are made from does not need to be decided in advance. After selecting the bank, the appropriate check paper should be loaded into the printer (see details regarding print paper at the beginning of this chapter).

Transaction Type

The Transaction Type that will be recorded in the Journal Entries for issuing the checks. The required Transaction Type structure is described bellow:

 

===Debit===

==== Credit ====

 

Account

%

Account

%

?

100

Bank

100

  

Withholding tax

0

       
       

This type of Transaction also applies to cases where the % Withholding tax differs from 0, because WizCount will update the journal entry with the amount stated in the check.

Numbering From-

The serial number of the first check. The number must be copied from the check paper. The numbering advances automatically after each issue.

Landscape Orientation

The default in WizCount for issuing checks is to print the checks in the portrait orientation and include only the Original check (copies are printed on white paper). This checkbox should be checked when the check paper ordered from the printing office is in the landscape orientations and includes the Original on the left side of the page and a copy on the right.

Paper with negotiability limitation

In accordance with the Bank of Israel Directive, as of 01/03/2002 when pre-printing on check paper with tradability limitations (non-transferable, A/C payee only), the following note must be added in a noticeable manner: “No changes may be made in this check after it has been issued except a change of date or amount”. The application of this directive varies between the banks, both in the Style of the notice and the position of the notice on the check. Because of these differences among the banks, WizCount operates as described below:

If the Paper with negotiability limitation checkbox is checked, the software assumes that the tradability limitation notice was printed by the printing office. If this checkbox is not checked, the tradability limitation notice will be printed next to the text “To the payee only” within a frame. By default, WizCount print the notice in the style previously mentioned as dictated by the Bank of Israel. If you want to change the content of this notice, click the button next to this field. WizCount will open a popup where you can rephrase the Tradability Limitation note. (Click the Default button to return to the BOI original note style). When you open a new Bank Account Card, you can enter the bank’s notice style. It is recommended to update this field in Bank Cards that were opened prior to the directive’s entry into force.

Update Bank information

Click this button after changing the bank information, such as a Numbering or Transaction Type, to save the changes as the default for the next issues.

New

Click this button to enter the information of a new bank.

Delete

Select this button to delete the current bank data.

Finally, select the Issue button. Now, WizCount will print the checks one by one.

 

Payment By Bank Clearing Center

You can use WizCount to transfer payments through a Bank Clearing Center (BCC). Payment is transferred via BCC directly to the bank accounts (of the vendors). The software will issue a letter to the payee (vendor), notifying him of the bank transfer that was made.

When paying via BCC, payments cannot be split (in the same transfer).

 

Preliminary Actions

To pay via BCC, perform the following steps:

  • Contact the BCC (At the time of writing, the phone number is: 03-5111555), to establish the bank account details used for making payments to vendors. The organization number and subject must be obtained from the BCC.
  • For all of the Account Cards to be paid via BCC, the information of the Bank Account to which the payment will be transferred should be recorded in the Bank Account Details field of the Account Card in accounting. When entering your bank account details, make sure not to use hyphens (-) and diagonals (/). For example: If the account number is: 011584/79, enter: 01158479.

The process of payment by BCC is similar to the process of paying by issuing checks automatically (see information above). The only difference is at the end of the process – instead of printing checks, WizCount will create a file for BCC (see information below).

 

Issue File For BCC

When issuing payments to BCC, WizCount creates a file with a serial number and the extension 001, for example: MSV926334.001. The file will be saved in the Downloads folder on your computer. This is the file that is sent to the BCC.

After selecting the Issue button, WizCount will display a screen including the following fields:

 

Journal Entries Details

Data for the Accounting Transaction.

Details of organization for Bank Clearing Center

Company (payer) information in BCC.

Select Data Directory

The destination directory in which the BCC payment file will be stored. As mentioned, the file name is: NUMBER.msv.

Print Letters To

When issuing payments by bank clearing center, you can send a letter about the payment to each of the payees. This letter is a withholding of income tax confirmation. The letter can be limited to vendors that require withholding tax from payments.

Issuing Order

The order in which payment transfers will be issued. You may choose any of the following Sort Fields to set the issue order: Account, Account Name, Check Amount, Check Payment Date, Check Issue Date.

 

The letter to the vendors includes the following details: payment recipient details, payment transfer day, details of the bank account to which payment was made, net payment amount (after withholding tax) and details of the invoices against which payment was made. On the next screen you can add notes (which will be printed in all the letters).

 

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