Friday, 9 September 2011

Payment Formats Setup In AP

A payment format is to be defined for a combination of Payment method i.e. Check, and Currency. This Payment format is attached to the Payable Document name in the Bank Account window. Each payment format must be unique for that payment method i.e. Check, Electronic, Wire or Clearing.
Fig 1.3.1 Payment Formats
Define Payment Format
Enter a unique name for Payment Format. The naming convention will be XXOAS-Currency E.g. XXOAS-OMR
Select the Payment Method as Cheque.
If a bank account supports multi-currency and you want to limit that functionality to a certain document and not for all the documents, choose the Multiple or the Single Currency option respectively.
Select Multiple if you want to use the payment format to pay invoices of different currencies. You can select Multiple only if you enable the Use Multiple Currencies Payables Option. You can only use a multiple currency format with a bank account whose bank account currency is the same as your functional currency.
Select Single if you want to use a payment format to pay invoices of only one currency. You must select the currency you want to pay with this format in the next field. You can then use this format only with a bank account whose currency is the same as the currency you define for this payment format.
Choose the standard ‘Build Payments Program’ always for Build Payments and the appropriate Payment Format for printing of cheques and payment vouchers. The Build Payments program and Format Payments program fields are mandatory. Payment Format Program refers to the format of your cheque or the format of the payment voucher. Different payment formats programs have to be created, as the format of the cheque is different from the format of the payment voucher.

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