If you and your bank agree to share information about vendor payments by using files that can be sent electronically, you must set up the agreed upon file formats for relevant methods of payment. You can then export and import information about the vendor payments that are made with these methods of payment.

1. Click Accounts payable> Setup> Payment> Methods of payment .

2. Press CTRL+N to create a new line.

3. In the Method of paymentfield, enter a unique identifier for the new payment method, and in the Descriptionfield, enter a description.

4. Enter appropriate values in the Period, Days of grace, and Payment statusfields, and in other fields, if appropriate. For details about each field, see Vendor methods of payment (form).

5. To open the File formats for methods of paymentform, click the File formatstab and then click Setup.

6. On the Export totab, move (if necessary) an appropriate field format from the Availablepane to the Selectedpane.

7. Close the File formats for methods of paymentform.

8. For the new method of payment in the Methods of paymentform, select the appropriate file format value in the Export formatfield.