How to: Generate Electronic Payments
When you select electronic payment in the payment journal, the information is exported to a file, which is transmitted to your bank. The bank then transfers the payment from your bank account to the payee's bank account. If you are using the electronic payment option, journal lines must be exported and transmitted before they can be posted.
To suggest payments
In the Search box, enter Payment Journals, and then choose the related entry.
On the Home tab, in the Process group, choose Suggest Vendor Payments.
In the Suggest Vendor Payments batch job, on the Options FastTab, fill in the fields as described in the following table.
Field Description Last Payment Date
The last valid payment date for vendor ledger entries.
Find Payment Discounts
Select to include vendor ledger entries for which you can receive a payment discount.
Summarize per Vendor
Select to make one line per vendor for each currency in which the vendor has existing ledger entries.
If selected, you avoid transmitting multiple transfers and sending multiple pieces of remittance advice to the same vendor. The remittance advice lists the individual invoices that are being paid. All the open invoices and credit memos are combined in a single payment line.
If not selected, the batch job suggests one line per invoice.
By Dimension
The dimensions by which you want to group the suggested payments. You receive one suggested payment per combination of dimension values for each currency in which the vendor has existing ledger entries. For more information, see How to: Set Up Dimensions and Dimension Values.
Use Vendor Priority
The content of the Priority field on the vendor cards determines the order in which vendor entries are suggested for payment by the batch job. Vendors are prioritized for payment suggestions if you specify an available amount in the Available Amount field.
Available Amount ($)
The maximum amount available for payments in United States dollars (USD). The batch job creates a payment suggestion based on this amount and on the prioritization of vendors. It includes only vendor entries that can be paid in full.
Posting Date
The posting date.
Starting Document No.
The document number that appears on the first payment journal line.
New Doc. No. per Line
Select to fill in the payment journal lines with consecutive document numbers.
Bal. Account Type
Select Bank Account for the balance account type.
Bal. Account No.
The balance account number.
Bank Payment Type
Select Electronic Payment to export payment journal entries to a file using the Automated Clearing House (ACH) standard file format.
–or–
Select Electronic Payment-IAT to export payment journal entries to a file using the International ACH Transaction (IAT) file format. This file format is required if a payment transaction involves financial agencies outside of the United States.
On the Vendor FastTab, select the appropriate filters.
To suggest payments, choose the OK button.
See Also
Tasks
How to: Set Up Electronic Payments for Bank Accounts
How to: Void Posted Checks
How to: Transmit Electronic Payments
How to: Export Electronic Payments
Reference
Concepts
Electronic Payments for United States, Canada, and Mexico
Other Resources
How to: Set Up Dimensions and Dimension Values
How to: Apply Vendor Ledger Entries
How to: Void Checks
Priority