In the Fairwater Main menu select Accounting / Cash And Banking / Functions/ Outwires as shown below.
You will see the Outwire List which will default to show all open outwires, meaning that the entries have been saved but not posted. Select “Add New” to create a new Outwire entry.
On Outwire Entry screen, enter the required data fields which are marked with a red asterisk as shown below. Although “Description is not a required field, it is suggested that this be entered for reference purposes.
In the “Bank Header” section, select radio button for “Vendor” since wire being sent out relate to a vendor (Regular or Sub Agent). The radio button for “Principal” is used when sending wires to Principals such as refund of credit DA balance. This procedure will not be covered in this manual as explained in the previous section above.
After entering header information as shown below, click the SAVE button at bottom of the screen to continue.
After saving, if you wish to attach a copy of the wire request or wire advice showing payment of funds, click the paper-clip icon to attach .pdf file. Choose Document Type as “Bank Document”.
After clicking the SAVE button, the “Payment Details” section will appear at the bottom of the screen.
The “Actual Amount” column will show the amounts for each service that you had entered in the Agency Fee and Services Tab of the Port Call. Enter on each row the amount being paid by this wire.
Click the POST button to post the entry.
If you prefer to save the batch, and work on it later, then click the SAVE button.
You can also click on the VALIDATE button if you want to check that all entries have been entered properly and all is in balance before you POST.
Note: You can use this screen for both Advances and Payments to Vendors. The difference will be that the “Ledger” column shown in above “Payments Detail” screen will show ledger as “AP” (Accounts Payable ledger) rather than “WIP” (Work in Progress ledger).