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Use this form to create and maintain information about methods of payment for vendors.

You can assign a default method of payment to each vendor in the form. This method of payment appears on invoice lines for the vendor, but you can change the method of payment as necessary before posting the invoice or during the payment process.

Tasks that use this form

Navigating the form

The following tables provide descriptions for the controls in this form.

Tabs

Tab

Description

Overview tab

Create and view methods of payment.

General tab

View the tab information for the method of payment.

Set up the file format and invoice update parameters for the method of payment that is selected on the tab.

Note Note

If a format list is empty, move the mouse pointer to the list, click , and move the required formats from the right pane to the left pane.


Select a payment control validation for the selected method of payment, if appropriate. You can select one or more of the validations that are offered. The validation is performed in journals during posting.

Select the payment attributes to apply to the method of payment that is selected on the tab, if appropriate. You can select one or more of the payment attributes that are offered.

Dimension tab

Enter or view dimension settings for the method of payment that is selected on the tab.

Buttons

Button

Description

Create and view payment specification codes for the selected method of payment. These codes are included on each payment line in automatic payment transfer files.

Set up payment fees for the selected method of payment.

View the list of the remittance files for vendors.

on the tab

Select the appropriate file formats for the selected method of payment.

Define the dimension numbers for the selected method of payment. You also can define a bank account for the method of payment.

Note Note

(NOR) This button is available only if the configuration key for Norway is selected.


Fields

Field

Description

The file format for the export of payments.

The file format for the reply to an export file, if the bank supports an electronic reply to the export file.

The file format for remittances to a specific bank.

Enter a unique identifier for the method of payment, such as BANK for the method for bank payments to vendors. This field is mandatory.

Select a classification for the method of payment:

  • – The method of payment is none of the other choices or is not yet assigned. This is the default value.

  • – The method of payment is a check. For more information, see Generate and print vendor checks.

  • – The method of payment is electronic, such as electronic funds transfer (EFT). When this payment type is used, the system performs bank validations that are skipped if you use other payment types. For more information, see About payment types.

  • – The method of payment is a promissory note. For more information, see (Global, FRA) Set up promissory notes.

Select the method by which invoices are summed in the automatic payment proposal period:

  • – Create one payment transfer for each invoice. This is the default value.

  • – Combine all invoices with the same due date.

  • – Combine all invoices with a due date in the same week.

  • – Combine all invoices from a vendor in the same payment.

Enter a short description of the payment method.

Enter the number of days that are added to the cash discount date or the due date to define the broadest period in which a cash discount can be obtained.

The payment status that is required to post a payment with this method of payment.

The number of the last file that was sent.

The number of the last file that was sent on the system date.

The date of the last count of file numbers.

The account type that specifies the type of account a transaction with the selected method of payment is applied to.

Note Note

The most common account type is . To create bank transaction types, click > > .


Select the payment account number for the selected account type.

Select this check box if payments with the selected method of payment are first posted to a temporary ledger account and are later transferred to another ledger account.

Specify the account for bridging transactions. This account will be used if you selected the check box.

After you post a payment journal that contains a payment with a method of payment that is defined for bridging posting:

  1. Create a general journal and click .

  2. Click > .

  3. Select the relevant bridged transaction.

  4. Click to create the general journal line that transfers the transaction from the bridging account to the permanent ledger account, and then post the journal line.

Enter the transaction type for the bank account.

Note Note

This field is available only if the account type is selected.


Select the ledger account for bank fees that are related to this method of payment.

Specify the type of draft:

  • – No draft is created.

  • – The bill of exchange can be included directly in a bank remittance. The bill is not printed and you agree to pay without an acceptance step.

  • – You accept the bill of exchange from the vendor and include a remittance. The bill can be printed and sent from the vendor with an invoice or an account statement. When you receive the draft, enter the acceptance date or approval date.

  • – You promise to pay the vendor on a specified date. You do not receive a bill of exchange from the vendor, and you agree to pay without an acceptance step.

  • – A bill of exchange can be included directly in a bank remittance. The bill is not printed, and the bank is responsible for paying the bill to the vendor.

Note Note

(FRA) This field is available only if the configuration key for France is selected.


Select this check box if the selected method of payment allows draw promissory note journal lines to be posted automatically when you post an invoice for a purchase order.

If you selected the field, select this check box to run an export script when invoicing.

Select the journal name to use for automatic posting of payment lines with this method of payment.

Select the default payment ID type.

Note Note

(NOR) This field only is available only if the configuration key for Norway is selected.


See Also