Managing wire transfers is easy in Manual Check and Payment Entry. Per the Sage 100 ERP (F/K/A MAS 90 & 200) Help feature users can “use this procedure to record a wire transfer and, if the invoice has not been updated to the Open Invoice file, to distribute the wire transfer amount to the appropriate general ledger accounts. If you are entering an invoice that is not on file, you can use an expense distribution table to distribute the wire transfer amount.”
To perform the procedure, access the menu option then confirm Bank Code and use Payment Type pull down menu to select Wire Transfer. The Check No. will be auto-assigned W00001 for the first transaction of this type. See screen shots below.
In the above example, a Wire Transfer has been entered to pay an existing invoice in accounts payable.
Users can also use Manual Check and Payment Entry to reverse a Wire Transfer. Per MAS 90/200’s Help feature users can “use this procedure to reverse a wire transfer. If you are not recalling an invoice associated with the wire transfer, you can use an expense distribution table to distribute the negative wire transfer amount using general ledger accounts and distribution percentages defined in "Expense Distribution Table Maintenance”.
