Enter Payment Institute

Explanation

This activity is used to enter, change, and view details of the payment institutes via the Payment Institutes page; used by your company when entering payments. E.g., customer and supplier payments.

You can create a new record, enter company's ID at the payment institute (e.g., the customer ID number) via the Our Identity field if needed. ENable Use Value Date for Matching toggle, if you want to use value date parameters for the payment institute, during the bank reconciliation process.

You can define new payment institutes such as petty cash (for which the best institute type is Bank). You can also define payment institutes of type cash box by enabling the Cash Box toggle. Cash box payment institutes are different from other types because they involve direct handling of cash. All fields in this page can be modified except the ID. 

Prerequisites

There are no Prerequisites.

System Effects

As a result of this activity:

• Cash accounts used for the payment institute can be entered.
• Payment methods can be connected to the payment institute. This provides the file format for different kinds of payments, e.g., direct debiting, domestic or foreign supplier payments, incoming customer payments on file or electronic statements of bank account.

Pages

Payment Institutes

Activity Diagrams

BDR for External Payments
BDR General Customer Payment Information
BDR General Mixed Payment Information
BDR General Payment Information
BDR General Payment Information Cash Box
BDR General Supplier Payment Information