Making a Payment or Collection

There are two ways to select accounts to pay:

• with a payment template Set of default values used to generate a payment proposal.
• without a payment template

Prerequisites

• Make sure your current company is the appropriate company for this payment run.
• [Optional] If you are creating an electronic payment or collection, make sure all the required bank details have been completed on all related accounts. See the Bank Details section in Custom Account Fields for a list of mandatory fields.

Note:

Corporate GLAs or local GLAs are used depending on the settings for the alternate account. You can expand the popups to view the alternate accounts, as set up in the chart of accounts mappings.

Selecting/retrieving the accounts to pay

To create a new payment proposal List of the accounts and transactions you are planning to pay or collect subscriptions from, on a specified date, using a specified bank account. using a payment template:

1. Click the Payments tab.
2. Click New next to Recent Payments on the home page.
3. Select a payment template. Click the lookup icon to search for an appropriate template. The payment criteria are populated with the values in the template.
4. Specify a payment date and a due date for the proposal.
5. Click Retrieve Accounts. This determines the number of transactions that meet the payment criteria before continuing to process the payment. See About Payments and Collections for more information.

To create a new payment proposal without using a payment template, leave the Payment Template field blank. You will then need to supply all the required payment criteria, including a payment date and a due date, general ledger account, and payment method before you click Retrieve Accounts.

Note:

"On Hold" payable invoices are not retrieved by this process. See Editing Payable Invoices for more information.

Overriding exchange rates during the payment process

When you have populated the payment criteria on the Payments tab, an expander icon is displayed next to the Payment Currency field. Click this icon if you want to override the exchange rates used to convert values in payment currency to home currency, and home to dual. When you click the icon, an expander panel opens with fields for you to enter the payment currency and dual currency exchange rates. The current rates are displayed for information purposes. The exchange rates will be applied to cash entries created by the payment process. The rates used will be stored on the cash entry header and copied to the transaction line upon Post. Note that if you do not enter overriding rates, the current rates at the time of posting are applied.

Refining the payment proposal (including making part payments)

All steps in this part of the process are optional. You can skip this stage completely if you want.

1. If necessary, open the retrieved payment proposal via the Payments tab.
2. [Optional] In the Accounts section, review and refine the account lines.
   1. To exclude an account line, deselect its checkbox.
   2. To reinstate an account line, select its checkbox. The checkbox in the heading row operates as a select all/deselect all control (for the viewable page only).
   3. To move between pages, click Next and Previous. If you've made any changes, they are saved at this point.
   4. To view transaction details related to the selected account line, click the drill-down icon in the left hand column. The Transactions panel is displayed.
3. [Optional] In the Transactions panel, review and refine the list of transactions.
   1. To part pay a transaction, enter a valid payment value less than the outstanding value. The new payment value must have the same sign. Discounts are only applied when payment value plus discount equals the outstanding value.
   2. To exclude a transaction from the list, deselect its checkbox or enter a 0.00 payment value. If you do this, any part payment edits are lost.
   3. To reinstate a transaction previously deselected from the list, select its checkbox. The checkbox in the heading row operates as a select all/deselect all control (for the viewable page only).
   4. To navigate between pages, use the paging controls (arrow heads representing First, Previous, Next and Last respectively) at the bottom of the panel, or enter a specific page number to jump to.
   5. To change the number of items per page, select one of the options from the picklist. The maximum is 500 items per page.
   6. To search for a transaction with a specific document or transaction number, document date or outstanding value, enter partial search criteria into the Search box, and click Search. This option searches all retrieved transactions within this account. To remove the filter, clear the Search box and click Search again.
   7. To search for a transaction within the current web page, press Ctrl-F (Windows) or Cmd-F (Mac) to activate the browser's Find bar. See the browser Help for more information. This option allows you to find transactions using any of the transaction's details, but is limited to those on the current web page.
   8. To return to the Accounts section, click OK. If you've made any changes, they are saved.
4. [Optional] When your amendments are complete, click Save to save the payment proposal and populate the Payment Media tables.

Submitting the proposal for payment or collection

1. If relevant, make sure the active check range has enough available check numbers.
2. If necessary, open a saved payment proposal via the Payments tab.
3. Click Pay to submit the payment proposal for processing. What happens now varies according to the payment media type and payment status.