Setting up a payment suggestion
Once you have created a payment journal, you can set up parameters and rules for how the Create Payment Suggestion function should be run for this particular journal. The setup gives you e.g. possibility to specify whether the function should find and trigger cash discounts, or whether a aggregation of payments should be used. Each time you run the Create Payment Suggestion function, it is based on this setup.
It is possible to create several payment journals, each with its own setup. For example. you can create a payment journal per. currency or one per. bank account paid from. Finally, there are also many who prefer everything in the same journal. In Continia Payment Management, a payment journal can handle multiple banks, multiple currencies, etc. in the same journal.
How to setup a payment suggestion
- Select the
icon or press Ctrl-F3, enter Payment Journal Payment Management, and select the related link. - Select the payment journal you want to work with in the field Batch Name.
- In the Navigate tab, select Setup.
- Below you will find descriptions of the individual fields and functions in the window Setup, as well as what consequences they have for the use of Payment Management.
- Select OK to close the window.
General
| Field | Description |
|---|---|
| Last Payment Date Calc. | Specify, using a date formula, how the last payment date is to be calculated, which determines which items are to be included in the payment suggestion. The date formula is written according to the standard method in Dynamics NAV or Business Central on-premises. For example, if you will include invoices due 16 days in advance, enter "16D". If the field is left blank, all invoices due are included. |
| Find Payment Discount | Indicates whether the function must include invoices where the cash discount date is within the calculated last payment date for the function. The function will, compare the cash discount percentage with the current bank account's Internal interest rate (assuming it is different from zero), and then make a profitability calculation. Only cash discount is activated until the cash discount date, and only if it pays to advance the payment date. If the bank account's interest rate is zero, a cash discount is always activated if the date is within the permitted last payment date, cf. the field above. |
| Collect Per Vendor | Indicates whether the function must aggregate all payments per vendor, into one payment, ie into one line in the payment journal. Aggregating payments typically enables large savings in fees for your business. The aggregation of payments can take place at the same time as a payment suggestion is created, or you can use the function Collect payments after the payment suggestion has been created. At the same time as the entries are aggregated, a notification is formed that documents to the vendor what has been aggregated, ie which invoices and credit notes the payment covers. In order for several payments to be aggregated, certain conditions must be met. Some conditions are set by Payment Management, e.g. information such as Bank Account, Currency and Vendor must be the same on all payments before the payments can be aggregated. Additionally, under Setup summarization of payments, you can specify other criteria yourself. Here you can e.g. specify that the field VAT Registration No. must be the same before an aggregation may be made. If the content of a field is specified to be the same, (the fields in the column Identical field content required are marked), payments will only be aggregated if the content of the fields from the payment entry is exactly the same. This means that in a field such as Supplementary notification, "Transfer" is not the same as "Transfers". Note The function only includes payment entries where the vendor's payment information or the vendor's payment method is stated Allow Collecting Payments. Likewise, it depends on the chosen bank whether it is possible to aggregate the payments on the different payment methods. t is not possible to aggregate payments for payment methods using short advice. This is done, for example, in Payment method 1110100. In this case, use instead Payment method 1110200. |
| Posting Date Calculation | Specify, using a date formula, how to calculate the desired posting date. The date formula is written according to the standard method in Dynamics NAV or Business Central on-premises. For example, if you want to use a fixed posting date as todays date + 8 days, enter "8D". If the field is not filled in, no fixed posting date will be used, but the due date of the document is used instead as the posting date. |
| New Document No. Per | This field indicates how document numbers are assigned lines in the payment journal when a payment suggestion are created or you subsequently perform the function Renumber Document No. Payment Journal: The same document number is used throughout the payout journal. Line: Document number is consecutive with change per. line in the payment journal.. Vendor: Document number is changed every time Vendor No. changes in the payment journal or the currency code changes for the individual vendor. |
| Use Vend. Pmt. Info | Indicates whether the payment information is to be taken from the posted purchase document, or directly from the vendor. This may be appropriate if you e.g. has changed the payment information on the vendor, after posting purchase documents. "Blank": Always take information from the posted purchase document, if this contains payment information. Otherwise, information is taken from the vendor's payment information. Modified: Takes information from the vendor's payment information, if these have changed after the document has been posted. Altid: Always takes information directly from the vendor's payment information. |
| Description Template | Specify, using manual notification definitions, how to fill in the Description field in the payment journal when creating a payment suggestion. It is possible to specify a specific mask if desired or design your own. The description is only seen in Dynamics NAV or Business Central on-premises and is therefore not sent to either bank or vendor. |
| Posting Status Needed | Specify the lowest Payment Status a payment line must have, before it can be posted. The field can be used to advantage if you have also ordered status messages from the bank. If you use direct communication to the bank, it is recommended that Posting Status Needed is set to "Paid". Your Dynamics NAV or Business Central on-premises bank account will thus always show a real-time picture of what has actually been posted in the bank. |
| Bank Payment Type | You can issue electronic and manual checks with Payment Management. You can pay with two types of checks: Computercheck: Select this option if you want to print a check for the amount from the payment journal line. You must print the checks before you can post the journal lines. Manual check: Select this option if you have created a check manually and want to create a corresponding check entry on the amount. You cannot print the check with this option. For both types, the field Balance Account Type or Account Type must contain Bank Account. |
| Bank Code | You can specify a bank code, which ensures that payment suggestions are only created for bank accounts for the given bank. The bank specified here will then appear on the setup for Suggest Vendor Payments. |
| Recurring Jnl. Template Name | Here, enter the journal template type of the recurring journal used when making a payment suggestion. When you later make a payment suggestion, the function will tell you that there are lines in the recurring journal that need to be posted. |
| Recurring Journal Name | Here, enter the journal template name of the recurring journal used when making a payment suggestion. |
| Fee Account | Here is the financial account to be used as a fee account in connection with currency settlement. The function Create Fee, inserts a line in the payment journal, with the specified account as the Account Number. |
| Create Negative Amounts | Indicates whether the function should create lines with negative amounts, if a vendor in practice owes you money. If amounts on credit notes, for example, exceed amounts on invoices to be paid, line(s) will be created in the payment journal when this field is selected. If the box is unchecked, the suggestion will not create lines for this vendor. |
| Ignore Previous Applications | Specifies whether the function should include entries that have already been applied (closed) in another payment journal. When the function finds an overdue entry, it will usually check if the entry is included in another payment journal, thus failing to include the entry multiple times. The entry is included regardless of the line's status in the second payment journal - even if it has status Paid. This check is therefore ignored if you select this option. The function can be used, for example, if you want an overview of all overdue items, even if they may have been applied (closed) in another payment journal. |
| Last Monitoring Date Calc. | Special field which is only used for the bank Bankgirot. Specify, using a date formula, how long credit notes must be kept for monitoring at the bank. The date formula is written according to the standard method in Dynamics NAV or Business Central on-premises. For example, if you will let the bank monitor (set off) credit notes and set off your payments for 90 days, enter "90D". If the field is not filled in, credit notes will continue under the supervision of the bank until they are settled. |
See also
Setup summarization of payments
Define manual notification definitions