Paying by vouchers

Lending institutions use vouchers to control the job expenditures of a contractor’s speculative work. When you are ready to pay materials suppliers and subcontractors, print and send the vouchers to the lender. The lender then pays the vendors based on the amounts indicated on the vouchers.

Because the lender is making the payments, vouchers do not affect your cash balance. They do, however, affect the balance of your Loan Payable account.

To pay by voucher:

Open 4-3-2 Pay Vendors.
Invoices that you have selected using 4-3-1 Set Invoices to Pay appear in the grid area.
Click the Select All button, or alternatively select invoices individually.
Click the Pay By drop-down arrow, and select pay by Voucher.
Click [Pay Vendors].
On the 4-3-5 Report Printing window, select the appropriate Report Form and click the Print records icon.
Enter a transaction to record the loan disbursement.
Select the [Update 1099Balance] check box to add the voucher to the 1099 balances when printing vouchers.
Click [OK].

Tip: The vouchers work like checks in that you can print vouchers to paper. The program displays these options: Post ALL vouchers, Post vouchers through voucher#, or Do not post any vouchers.