A vendor payment is created when a school pays their suppliers for any goods or items that the school may have purchased.

Payment Account refers to the account that will be credited. This will normally be your bank account.

Name on Payment will default to the vendor name but it can be used as an alternate vendor name on a specific payment. For example, if you are making a payment to Microsoft (vendor) and you would like to address it to a specific person there, name on payment can fulfill this purpose.

Payment Number refers to the check number or the reference number if you are not paying with a check. If you are paying with a check, the payment number will be printed on your check.

Vendor Memo is used to enter a payment description that you may possibly show on your check.

Internal Memo is used to enter a payment description that you may not necessarily share with vendors.

Debit Account will normally be your Accounts Payable.
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