OCR payment is a process of receiving payments electronically from customers. Each OCR payment has a customer identification (KID) reference.

You must install the electronic banking software on your computer and make an agreement with the bank to use the OCR payment process.

Set up bank accounts and currency

You must define the bank accounts for the company to use electronic payment transactions.

  1. Click > Common Forms> .

  2. Enter the identification for the bank account in the field.

  3. Enter the bank account number specified by your bank in the field.

  4. Enter the ledger account in the field that all the transactions for the bank are posted to.

  5. Specify the currency code for the bank account in the field.

  6. Click the tab and select the option in the field.

  7. To have the option to use multiple currencies for the account, select the check box under the field group.

Define bank accounts for customers

  1. Click > Common Forms> .

  2. Select a customer account on the tab and then click the button. Select the option to open the form.

  3. Enter the number that identifies the customer bank account in the field and the account number assigned by the bank to the customer in the Bank account number field.

  4. Click the tab and enter the (Society for Worldwide Inter-bank Financial Telecommunication) for customers from other countries/regions. If the SWIFT code is not available, you must provide the country/region code for the receiver's bank.

    Note Note

    For the banks that are not a part of the SWIFT, complete steps 5 through 10.

  5. Select the routing number code in the field. The code identifies the type of routing number for making international payments.

  6. Enter the routing number for the bank in the field.

  7. Click > > .

  8. Enter the ISO currency code for each currency in the field. It is the code that is used in the file that is sent to the bank. The code consists of three characters.

  9. Click > > > .

  10. Enter the ISO country code for the country/region in the field. The code consists of two characters and is used in the file that is sent to the bank. The ISO currency code and the ISO country/region code are used for transactions with customers who are in other countries or regions.

Import OCR payments

  1. Click > > > .

  2. Click CTRL+N to create a new payment journal and then click the button.

  3. Click > .

  4. Select OCR as the method of payment in the field.

  5. Specify the location and the name of the file to save the import file sent by the bank. Enter other required details in the form and then click OK. You can view the paid customer transactions that are imported in the form.

  6. Validate and post the journal.

See Also