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Because the run is assembled in a spreadsheet from a payables report. Somebody decides what to pay, keys it into the bank, and the ledger is updated afterwards from memory.
A vendor payment run selects approved bills that are due, nets available credits, and produces a single batch to approve and pay.
The run reads approved bills and their due dates directly. Credits net automatically, the batch is approved as a whole, and the bank file and the postings come from the same selection.
Cash is tight this week. Filter by due date and vendor priority, pay what must be paid, and the deferred bills stay in the forecast at their new expected date.
It will not choose which supplier to disappoint. It shows what is due, what carries an early settlement discount and who is on stop; the priority call is yours.
Settlement clears the bills, posts against the bank account, updates payables aging and cash flow actuals, and reconciles against the bank feed when it lands.
Yes, by value band, with different approvers.
Yes, in your bank's format, and the batch is matched when it clears.
Yes. The balance stays open and stays in the aging view.
Fourteen days, every module, no card. Or half an hour with someone who will run it on your own records and tell you where it does not help.