Formatting Remittance Batches
You format approved automatic receipt remittance batches on either paper or magnetic media to send to your remittance banks to initiate the transfer of funds from your customer's account to your own. You format approved, manually entered remittance batches so the bank will credit your account when your customer's checks clear.
You can assign different remittance formats to your remittance banks and clearing institutions. You assign the formats to your remittance banks when you define payment methods, and to your clearing institutions when you define the clearing institution itself. See: Payment Methods and Defining Banks.
You can customize the program Receivables uses to format your remittances to suit your specific needs. See: Formatting Remittance Layouts.
There is no limit to the number of times you can format a remittance batch.
Prerequisites
To format a remittance batch:
1. Navigate to the Remittances window.
2. Query the batch to format.
3. To review receipts within this batch, choose Receipts. You cannot update a remittance batch if its status is Approval Completed.
4. Choose Format. Receivables displays the Request ID of your concurrent request for formatting this batch of remittances and creates the Format Automatic Remittances report. This report displays details of how many remittances were formatted and the amounts involved. See: Format Automatic Remittances report.
See Also
About Remittances
Creating Remittance Batches
Approving Remittance Batches
Remittance Batch Management Report
Create remittance batches