1. Embedded Banking Questions and Answers
  2. What configurations are automatically set up in Cloud ERP for embedded banking?

What configurations are automatically set up in Cloud ERP for embedded banking?

The following configurations are automatically set up for the embedded banking solution.

  • ISO 20022 formats for payments, acknowledgments, and bank statement processing
  • Payment Systems and Transmission Configurations
  • Funds Disbursement
    • Payment Codes
    • Payment Methods (ACH and Wire, Check for all banks. SEPA and Virtual Card for J.P. Morgan)
    • Payment Process Profiles
  • Lockbox
    • AutoMatch Rule Set
    • AutoCash Rule Set
    • Receivables Activities
    • Receipt Class and Method
    • Receipt Sources
    • BAI format
  • Bank Statement Processing
    • Bank Statement Transaction Codes
    • Bank Statement Transaction Creation Rules
    • Bank Statement Reconciliation Tolerance Rules
    • Bank Statement Reconciliation Matching Rules
    • Statement Reconciliation Rule Sets

Additionally, banks, branches, and bank accounts are automatically created when you enable the solution with J.P. Morgan in Cloud ERP. SEPA payments are supported only for J.P. Morgan.