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Payment Method.

• Check. Payment in a payment batch, Quick payment, or manual payment. Usually a paper check you give to your supplier.

• Electronic. You pay electronic payments either through the EDI Gateway, or by delivering a payment batch file to your bank. For both methods, Payables creates a file during payment batch creation. For EDI Gateway payments, the file is processed through the EDI Gateway and delivered to your bank to create payments. For electronic funds transfers, the file is formatted and delivered to your ap.out directory for you to deliver to your bank.

• Wire. A payment method where you pay invoices outside of Payables by notifying your bank that you want to debit your account and credit your supplier's account with appropriate funds. You provide your bank with your supplier's bank information, and your bank sends you confirmation of your transaction. Your supplier's bank sends your supplier confirmation of the payment. You then record the transaction manually.

• Payment Clearing. Payment method you use to account for intercompany expenses when you do not actually disburse funds through banks. Generally, you do not generate a payment document with the Clearing payment method.

When you enter the invoice, you enter Clearing for the payment method. You can record a clearing payment using a Manual type payment only.

• Future Dated. You generate and send to your bank a payment which includes a future date that instructs your bank when to transfer funds to your supplier's bank. A Bill of Exchange is an example of a payment document that uses this method. You can enter this payment method only if you enable the Allow Future Payment Method Payables option. When you create a payment batch, create a Quick payment, or record a manual payment, you select a payment document that uses a Future Dated payment format.

• Manual Future Dated. This method is the same as the future dated payment method except that your supplier includes with an invoice a payment notice. You approve the payment notice, which includes a future payment date, and forward it with the payment to your supplier. You can enter this payment method if you enable the Allow Future Payment Method Payables option. Since you do not generate a payment document, you use a Manual payment with a Manual Future Dated payment document to record the payment.

Group by Maturity Date. Enable this option if you want this format to group payments by due date. If you enable this option, Payables groups payments for invoices with the same due date on the same payment document. Invoices with different due dates are paid using a separate payment document.

If you disable this option, Payables groups payments on payment documents according to the order in which the invoices were selected when you initiate a payment batch.

Currency

• Multiple. Select Multiple if you want to use a 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.

• Single. 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.

Remittance

Before Document. Payables prints a remittance advice on the payment document stub, before it prints the payment.

After Document. Payables prints a remittance advice on the payment document stub, after it prints the payment.

None. Payables prints a separate remittance advice, based on the remittance advice program you select for the payment format.

Number of Invoices. The number of invoices you want to appear on your remittance advice for this payment format. This value only applies to a remittance advice included in your Format Payments programs (not a Separate Remittance Advice program). Do not change this value for the payment formats that Payables predefines. Note that for any of the Evergreen type payment formats the maximum value that defaults in this field is 37, and if you enter a value greater than 37 your payment format will not work.

Programs

Attention: For this field, select the Standard Build Payments program that Payables provides. You do not need to define any additional Build Payment programs.

Format Payments. The Format Payments program this payment format uses. You must select None for the Remittance Advice option to select the BACS or the U.S. Treasury Format Payments program since these formats do not have remittance stubs. During payment formatting, Payables uses your payment format to create the layout of your checks or electronic funds transfer file. If you plan on using a laser printer to print checks, select the Evergreen Format (Laser) payments program.

Separate Remittance. The Remittance Advice program this payment format uses to create a separate remittance advice for each payment.

Choose the Tax Authority Remittance advice if you use automatic withholding tax and are creating a payment format you will use when paying a tax authority.

See Also