Overview tab

Create and view methods of payment.

General tab

View the Overviewtab information for the method of payment.

File formats

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

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

Payment control

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.

Payment attributes

Select the payment attributes to apply to the method of payment that is selected on the Overviewtab, 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 Overviewtab.

Payment specification

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.

Payment fee setup

Set up payment fees for the selected method of payment.

Remittance files for vendors

View the list of the remittance files for vendors.

Setupon the File formatstab

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

Bank accounts

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

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

Export format

The file format for the export of payments.

Return format

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

Remittance format

The file format for remittances to a specific bank.

Method of payment

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

Payment type

Select a classification for the method of payment:

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

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

• Electronic Payment– 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.

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

Period

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

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

• Date– Combine all invoices with the same due date.

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

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

Description

Enter a short description of the payment method.

Days of grace

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.

Payment status

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

Last file No.

The number of the last file that was sent.

Today

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

Date

The date of the last count of file numbers.

Account type

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

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

Payment account

Select the payment account number for the selected account type.

Bridging posting

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.

Bridging account

Specify the account for bridging transactions. This account will be used if you selected the Bridging postingcheck 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 Lines.

2. Click Functions> Select bridged transactions.

3. Select the relevant bridged transaction.

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

Bank transaction type

Enter the transaction type for the bank account.

Note
This field is available only if the Bankaccount type is selected.

Fee account

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

Type of draft

Specify the type of draft:

• No draft– No draft is created.

• Bill with no acceptance– 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.

• Bill with acceptance– 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.

• Promissory note– 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.

• Bill of exchange with bank acceptance– 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
(FRA) This field is available only if the configuration key for France is selected.

Automatic posting

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.

Run export script

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

Journal name

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

Payment ID type

Select the default payment ID type.

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