MONTHLY PAYMENTS CHECK TASK- UPDATED APRIL 2016-SWAP CHQS

On a certain day during the month we pay our monthly suppliers , many of these suppliers especially p.o ones are also our customers
 
so we do a check before we pay suppliers them to make sure that they aren't owing $$ to us for the same period
i.e if we are paying December accounts we make sure that we have been paid for the same period

if they have already paid great

if not 

we change the planned date of this supplier to the 1st of the month ,

we create aticket to accounts payable team and they will " swap payments with this supplier "
the ticket subject line is the supplier name and swap chqs 

basically they negotiate with this supplier so we can get payment owing to us 

it doesn't matter to the amounts ,

if they owe us for the period that we are paying then we dont pay ,we swap chqs.

even if we have other tickets open to collect funds from this supplier, open this as a separate ticket and action accordingly ( otherwise it gets too complicated ) 

it is the accounts payable manager who actions this ticket so they are usually aware of other open tickets for this supplier and can action/merge then as required 

so to clarify - 

person doing  statements task will create a separate ticket each time for items where we have to swap chqs 

accounts receivable or payable  manager may merge this to other tickets 

once we have payment and or agreed swap dates then changed the planned date accordingly , make sure to check we actually received our payments though 

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1 Ticket per supplier as per example below

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Hi xxx ,

We have on our records that we owe you $xxxx and you owe us $xxx  for xxx ( month) .  

We would like to swap payments.  Kindly let us know when you are okay to swap.

Regards 

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