Clear a Payment Run in Payment Assistant
To speed up reconciliation, you can clear a payment run in Payment Assistant using your selected date. When you Set status to clear with a specific date, it applies to the payments in the run that are outstanding. Some users prefer to use the date the funds were withdrawn from the bank account (the approval date), while others choose the date the payment was marked as paid.
Tip: You can also clear bank drafts individually or in bulk from Treasury, Bank accounts. Open a bank account record and select Register.
Setting a clear date confirms that funds have been successfully transferred and reconciled. It enables reconciliation, supports accurate financial reporting and audit tracking, and marks the point when the payment is fully settled in the accounting system.
From Payables, Payment Assistant, open a payment run record.
Under More, select Set status to clear. This option appears when you have permission to clear payment runs and the run has outstanding payments. You can also select it from the payment run's menu on the Payment runs list.
In the Set default clear date window, enter a clear date. This field is required. By default, the date is set to today's date. When a payment run is approved, Payment Assistant marks the invoice and bank draft as paid.
Select Save.
Frequently Asked Questions
Why should I set status to clear?Clearing a payment run simplifies reconciliation. These payments already count toward the cleared balance in the reconciliation workflow, so you don’t need to manually match or clear them.
When should payments be cleared in the register? We recommend each organization develop a workflow that works well for them.