When the Wire Transfer Option is used to pay accounts payable invoices, the system
• Automatically assigns a unique wire transfer number to each payment.
• Creates records in the Bank file for the wire transfers created by the program
• Updates the accounts payable invoices
• Posts the transaction to the general ledger.
• An AP Remittance advice routine can be used to print the payment detail for the wire transfer (the remittance advice or wire transfer report is printed on plain paper and it lists the invoices paid with the transfer).