Preparing for a Payment or Collection Run

Before you initiate a payment run, or payment collection run, you must identify the type of transactions you want to select for payment or collection.

For example, you may want to pay all of the outstanding invoices due for payment by today, or only pay your most critical suppliers, or only collect payments due in a particular currency.

You can produce the aged analysis reports to analyze the outstanding transactions by due date.

Note: In a multi-currency environment you may need to alter the Currency for Payments setting in Ledger Setup (LES), depending on whether you want to produce or collect payments in the base currency or in different transaction currencies.

If you are using payment stamps to group transactions for payment, you must assign the payment stamps before you pass the transactions through to Payment Run for payment. Payment stamps are assigned via a control desk.

Before you initiate the payment or payment collection run you must identify the payment profile that is required. If a profile doesn't exist, you must create it using Payment Profiles (PYP).

Even if you select the transactions for payment via a control desk you must still identify the payment profile to be used by Payment Run to produce the payment documents.

Previewing the Payments or Collections

You can preview the payments that are produced by a payment or payment collection run to ensure the correct transactions are paid or collected. This is particularly recommended if you are using a new payment profile.

To preview the payments or collections, you should set the Post Transactions option to No on Payment Run, or Payment Collection Run. This produces the payment run details report which lists the transactions selected for payment or collection.

You can use this report to check that the required payments are produced or collected.

Including or Excluding Transactions for Payment

You can include or exclude transactions for payment or collection by altering various details, depending on the circumstances.

If you are using a payment profile to select the transactions, you can alter the payment run selection criteria, for example by adjusting the Base Date for Payment or Base Date for Discount and the payment profile selection criteria, for example by adjusting the selection ranges, or payment basis.

You can alter selected transaction details, for example to withhold a transaction by setting the allocation marker or amending the due date.

You can use Account Allocations (ACA) to amend selected transaction details, for example to alter a transaction's due date or allocation marker. You can also use it to split a transaction, for example if you want to pay only part of an invoice you would split it according to the value you want to pay. You would also amend the payment due date to delay the payment of the unpaid part of the invoice.

Note: If discount is allowed on a transaction selected for collection by Payment Collection Run, it is selected for payment regardless of the payment due and discount due dates, and the discount is always allowed.