Overview of Bank Charges

Bank charges are the fees that a bank charges you for transferring funds from your disbursement bank accounts to the bank accounts of your suppliers. You can configure your setup and payment process to automatically deduct bank charges from an invoice payment.

Here's a summary of the bank charge processing flow from setup through payment.

1. Create a bank charge definition on the Manage Bank Charges page.

2. Set the Bank Charge Deduction Type option on the Manage Payment Options page.

3. Set the Bank Charge Deduction Type option for the supplier site that sends you the invoices.

4. Create the invoice and specify a settlement priority on the Manage Installments page.

5. Validate and account for the invoice.

6. Pay the invoice through a payment process request and specify one of these options on the request:

   • A settlement priority override.

   • A payment process profile that groups by settlement priority.

7. Account for the payment.