Prerequisites for Managing Drafts
Before you can process drafts, you must perform the following tasks:
Review business events and subevents.
Define distribution codes and assign them to a business unit.
Create entry types, entry reasons, and automatic entry types.
Define draft transaction types for customized reports.
Define draft types that determine how drafts are processed.
Designate where draft documents are stored.
Define document types.
Assign account ChartFields to a bank account for the Cash and Cash Control accounts for both discounted and nondiscounted drafts.
Define draft collection methods for a bank account.
Link the customer's bank account to a remit from customer if you plan to remit drafts using an EFT file on the Customer Bank page.
Select the draft payment method and processing rules for bill to customers.
Assign customers to draft groups.
Create reason codes for rejecting drafts using the Reject Draft reason type.
Set up automatic numbering.
Set up item reference qualifiers.
Set up draft reference qualifiers.
Set up EFT reason codes and EFT file layouts.
Associate the customer IDs with the customer names in the EFT files on the Customer EFT Name page for EFT drafts.
(Optional) Setup approval workflow for write-off amounts.