External Supplier Payment on File

Description of process

Use this process to create supplier payments sent by electronic file from the company's various payment institutes. Each electronic file contains information on debit and credit transactions for a specific account and currency. The external loading is loaded into an existing or new mixed payment. To approve the mixed payment, a separate function is used. The approval creates payment and a voucher with postings. When the payment is matched, the matched invoices and the payment will be assigned with a unique matching ID and a matching date.

Each electronic file contains information on debit and credit payment transactions for a specific cash account and currency. The transactions take place in the following steps:

  1. Load the data file into external interface.
  2. Check external payments.
  3. Load the external payment into an existing or new mixed payment.
  4. Use functions in the Mixed Payment window to approve the mixed payment and to create the payment, including a voucher with postings.

An approved Mixed Payment can be cancelled. The cancellation reverses all accounting transactions that were created in connection with approval.

Before you start entering information check that Basic Data Required (BDR) has been set up as per instructions in Define Financials Basics, the Set up Basic Data Accounts Payable process, as well as basic data for payment institutes and payment methods in Cash Book Basic Data.