What are the documents that you can find in Payment Management Work Center?
In Payment Management Work Center, you'll be able to see the follow documents:
Payment Monitor is the view that show you all the company's incoming and outgoing payments, with all status since “in approval” to “canceled”.It’s
possible to see all payments together, or select by your preference, like the Payments in Preparation or Confirmed Payments.
If you select one of the payments, you’ll be able to see the details in the same page, or clicking on it, a new tab will open with all information about the payment.
You can also access this view from Liquidity Management work center if you want.
In Payment Allocation, you’ll be able to see payments and remittance advices that require manual payment allocation. This situation applies
when the system cannot allocate payments to a customer or supplier using the available data, for example.
You can select to view In Preparation, Posted, Canceled or all the Payment Allocations together. Like in Payment Monitor, clicking on the payment a new tab will open to check the details or also edit it.
Under the view Deposits, Check Deposits subview, is the place you go to create deposits for incoming checks received from your customers or
suppliers, which you can then group and deposit at your bank. And also, see these Check deposits.
Clicking on “New” button, a new tab will open. Then, you must fill the fields with necessary information and Save.
In Remittance Advices view, you can see and enter all the incoming remittance advices that you received for payments initiated by your customers
or suppliers. These payments can include outgoing payments by direct debit or incoming check payments and transfers that a customer or supplier informs you about prior to payment processing.
To create a new Remittance Advice, go to “New” button and select “Remittance Advice”. Then, you must fill the fields with necessary information and Release.
In the Clearing House Statements view you can upload clearing house statements and update the items in the system and also view the status and
transaction details of them, and reverse the incorrect.
Under Periodic Tasks, you’ll find:
- Payment Media Runs, where you can perform automatic runs, which generate payment media for bank transfers, direct debits, and checks. You can also display available runs and check the application logs of runs that have already been performed.
-You can create automatic Credit Card Settlement Runs in this subview. Here, credit card payments can be grouped together in one settlement and in a file. This payment order file can then be sent to the clearing house (also referred to as acquirer).
- You use foreign Foreign Currency Remeasurement Runs subview to convert the balances of cash ledger accounts from foreign currencies into the company currency on a specific key date. It’s relevant for companies for which gains and losses resulting from exchange rate fluctuation, that are displayed on the cash ledger accounts in foreign currencies.
More than check this document, you can still run five Reports: Cash Position by Transaction Source, Checkbook Register, Dunning History – Customers, Payment Statistics – Customers and Payment Statistics – Suppliers.