Prerequisites for Receiving Payments Electronically

Before you perform electronic payment processing:

• Assign a default entry type, entry reason, and system function to adjustment reasons for each SetID on the Receivables Definition - Bank/Payment Options page.

• If you use cash control accounting, define your cash control method on the Receivables Definition - Accounting Options 2 page.

• Define the bank accounts where you will deposit the payments in the External Accounts component (BANK_EXTERNAL).

• Assign a business unit to the bank accounts from which you receive deposits on the External Accounts - Account Information page.

• Define group types for payments on the Group Type page.

• Define deposit types on the Deposit Type page.

• Set up qualifiers for payment reference information on the Reference Qualifier page.

• Set up adjustment reason codes.