Setting up Bank Details Setup (BNK) - Payments

The Payment tab details are used to tailor the bank transfer records that are created for the customer or supplier.

Transaction Limit

The maximum amount allowed for a single transaction to this account holder. This is intended to help limit the extent of gross fraud or error. If, during a payment run or payment collection run, a sum is calculated that exceeds this limit, no entry is made on the bank transfer file. The payment run report highlights any payments that have exceeded the transaction limit.

Transaction Reference

A specific reference to be used on the payment run transactions for payments to identify payments for this account holder. If you leave this blank, the reference entered in the Payment Run (PYR) or Payment Collection Run (PYC) is used.

Comments

This field can be used to maintain any text relevant to these bank details.

Direct Debit Transaction Type

Each option, once it has been processed, reverts to Normal. This can happen in the same transaction run if more than one currency payment or collection is processed. The first transaction will have one of the options below and the second will be set to Normal. The bank code number is generated for payment collections and located at the end of the direct debit export file.

Options are:

• First - tells the bank that this is the first direct debit payment or collection for the current contract. Bank code 01.
• Last - tells the bank that this is the last direct debit payment or collection for the current contract. Bank code 19.
• Normal - tells the bank that this transaction has happened before and will continue for the current contract. Bank code 17.
• Represent - if a collection is rejected, for example, due to lack of funds, this option means that the direct debit is presented again until it is paid. Bank code 18.