Enter Payment Institute
Explanation
This activity is used to enter, change, and view details of the payment institutes
used by your company when entering payments, e.g., customer and supplier
payments.
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 selecting the Cash Box check box.
Cash box payment institutes are different from other types because they involve
direct handling of cash. All fields in this window
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.
Window
Payment Institutes
Related Window Descriptions
Payment Institutes
Procedure
To perform this activity, follow these steps:
- Open the Payment Institutes window.
- Query for the payment institutes.
- To create a new payment institute, create a new record.
- Enter up to 20 alphanumeric characters for the identity of the payment institute.
- To enter our company's ID at the payment institute, e.g.,
the customer ID number, use the Our Identity field. This information is
required by some payment formats.
- Enter a description of the payment institute.
- Select the Use Value Date for Matching check box, if
you want to use value date parameters for the
payment institute, during the bank reconciliation process.
- If the payment institute is a
cash box, select the Cash Box check box.
- Save the changes.