When a payment type of Electronic Paymentis associated with a payment method, additional validation is performed when you try to post. This is especially important when you are in the process of setting up electronic payments, because vendors or banks might ask you to wait until a specific date before you process transactions to that bank account.

You can specify the active and expiration dates for a vendor bank account to determine when it is active, and then assign a payment type of Electronic Paymentto a payment method. The additional validation then will be performed. The validation consists of verifying the active date of the vendor's bank account against the transaction date. For example, for a payment in the Payment journal, when the date in the Active datefield in the Vendor bank accountsform is blank, prior to, or equal to the payment transaction date, the payment is generated. If the Active datevalue is after the transaction date, you must wait to generate the payment until the active date.

This validation does not occur if no payment type is assigned to the payment method that is being used. In this case, the payment always is generated, regardless of the active date. If you post multiple payments, the validation occurs for all payments that have payment types assigned to the payment methods. You can post the payments that do not have errors.

Validation for the Electronic Paymenttype occurs in the following forms:

• Payment journalform – Generate a payment to activate validation.

  Tip
  The bank account that is used in the validation process is specified in the Account identificationfield on the Banktab in the lines of the Payment journalform.

• Draw promissory note journalform or Redraw promissory note journalform – Generate a payment to activate validation.

• Remittance journalform – Generate remittance to activate validation.

• Settle promissory note journalform – Generate a settlement to activate validation.