Payment Profiles

You use Payment Profiles (PYP) to define the criteria by which transactions can be selected for payment in Payment Run (PYR), or for collection in Payment Collection Run (PYC).

If your requirements are very straightforward, you may only require a single payment profile for your payment runs, and another single profile for your payment collection runs. These profiles might simply select all transactions due up to a selected date, for all your creditor/payables, debtor/receivables and client accounts.

However, in practice, you will probably develop several different payment profiles that select transactions using more complex selection criteria. There are a large number of parameters and selection criteria available on a payment profile to allow you to select exactly the accounts and transactions you want to pay. This enables you to manage and maximize your cash flow.

For example, you might create a profile that includes a number of currencies, all of which are paid from, or into, the same bank or bank account. Another example might be to create a set of profiles that select transactions according to the account priority to select high, medium or low priority suppliers or customers in different payment runs.

Another advantage of defining various payment profiles is that when Payment Run (PYR) or Payment Collection Run (PYC) is used for a particular profile, the resulting payments file acquires a code which is unique to the profile.

When you define a payment profile you can pick up to five selection criteria to be used as run time criteria. For example, you may want to enter the range of accounts to be considered for payment at run time, rather than setting a predefined range in the profiles.

Payment profiles are defined using Payment Profiles (PYP). The same form is used to define the profiles for a Payment Run (PYR) and a Payment Collection Run (PYC). However, one of the profile options identifies whether the profile is to be used for a Payment Run (PYR) or a Payment Collection Run (PYC).