Register Payment Methods

Explanation

This activity is used to register payment methods which are used for transferring payments to employees. You can specify the property codes that will fetch the employee's relevant bank account and the bank identifier code specified for the employee's bank. You can also specify the company bank account which should be used for the transaction and the bank identifier code for the company bank.

EMPAYACC and BIC are system defined property codes that are used to register employee's bank account and the bank identifier code. If employee has multiple account numbers, they will be registered with user defined property codes such as EMPAYACC1 or EMPAYACC2 and their bank identifier codes will be registered with the corresponding BIC1 and BIC2 property codes. That is, when you specify the property codes from which the employee bank account and the bank identifier code should  be fetched for a payment method, the property codes that correspond to each other are required to be entered.

Note: If SEPA payment format is used as a payment method, the bank account numbers and the bank identifier codes are required to be validated for IBAN standards which are specified in the IBAN Validation Information and the Bank Identifier Codes windows respectively. 

You can enter several methods if you want to use different company bank accounts for different purposes. You may also want to enter several methods pointing to different employee bank accounts. In this case you also need to enter a supplementary employee property code that points to this bank account.

Prerequisites

• Bank accounts and the bank identifier codes of the banks are required to be entered for the employee in Employee/Employment/Properties tab.
• IBAN validation information for different countries are required to be defined in the IBAN Validation Information window.
• Bank identifier codes for the banks involved in employee payment transactions are required to be defined in the Bank Identifier Codes window.

System Effects

• When a payment method has been registered, you can use Employee Payment for payments to employees.

Window

Employee Payment Methods

Related Window Descriptions

Employee Payment Methods

Procedure

1. Open the Employee Payment Methods window and select New.
2. Enter a method in the Method ID field. E.g:CASH, BANK etc.
3. In the Get Employee Bank Account From field enter the employee property code that should be used to link the bank account to the payment method.
   The property code EMPPAYACC is predefined. It can be supplemented by any additional codes you need. Leave this field blank if it is a cash method.
4. In the Get Employee SWIFT/BIC From field enter the property code that should be used to link the relevant bank identifier code (BIC) to the payment method.
5. In the Get Employee Bank Code From field enter the property code that should be used to fetch the bank code registered for the employee in Employee/Employment/Properties tab.
6. Select the Cash checkbox if the method refers to payment in cash.
7. Enter the company account from which the payment should be transferred in the Company Bank Account field and the bank identifier code of the company bank in the Company SWIFT/BIC field.
8. Select the Default Method check box for the method you want to set as default.
9. Enter the file format for files that will be sent to a payment institution. The file format must match the format used by the payment institution.
10. In the Output File Path field, specify a location where the file will be saved. Note that this location is not secure and other users can access and modify the file.
11. Specify a secure file location in the Server Output File Path field. Note that the location is secure and users cannot access and modify the file. Note that either output or server file location needs to be specifed for the transfer.