Approving Remittance Batches
After you create your remittance batch, you can review the receipts in the batch and add, delete, or update them. Before you submit the batch for approval, you can update the maturity date, remittance bank, customer bank, and bank charges information for each individual receipt.
When you submit your request, Receivables assigns a concurrent request number. You can use this number to check the status of your remittance process in the View Concurrent Requests window. This concurrent process also produces a report giving you details of the batches that have been processed. If you choose to approve and format a batch simultaneously, Receivables initiates an additional process that creates the formatted batch information.
You can only make changes to a remittance batch if its status is Started Creation or Creation Completed.
Prerequisites
To approve a remittance batch:
1. Navigate to the Remittances window.
2. Query the batch to approve.
3. To review or update this batch, choose Receipts.
If you are ready to approve the batch, go to step 7.
4. Add receipts to this batch by checking the check box next to each receipt. Remove receipts from this batch by unchecking the check box next to each receipt.
Note: Receivables keeps a running total of the count and amount of the remittance batch so you can ensure that it does not exceed a certain value. This is useful if you intend to factor a remittance batch and do not want to exceed the bank's short term loan limit.
5. To display additional receipts, uncheck the Query Batch Only check box, then choose one or both of the following:
Ignore Override: Check this check box to display all receipts matching the selection criteria, regardless of the batch remittance bank and the receipt Override Bank Account flag. Leave this check box unchecked to display all transactions that have the same remittance bank as the batch and whose receipt class has Require Remittance set to Yes.
Select All: Check this check box to automatically mark all transactions that Receivables displays for inclusion in this remittance batch.
6. Query the receipts, then repeat step 4.
7. To approve the batch, choose Approve, then choose Yes to acknowledge the message. To approve and format the batch in one step, choose Format, then choose Yes to acknowledge the message.
See Also
About Remittances
Formatting Remittance Batches
Remittance Batch Management Report
Create remittance batches