Implementing Cloud Financials: From Empty Pod to Go-Live · Module 8 · Payables and Payments
The payments engine
Lesson 81 of 153 · 1 min
One engine, and Payables and Receivables both use it — so the configuration you do here serves both. The object chain: payment method → payment process profile → payment document → payment format. Payment method is how you pay: cheque, electronic transfer, wire. Payment process profile is the rules for a run: which format, which document, grouping, validation. Payment format is the actual file layout the bank receives, and it is bank-specific. Payment document is for physical instruments — the stationery and the numbering. Then the batch itself, stage by stage: select invoices, build, review, format, transmit. Where it goes wrong is the format. Every bank wants something slightly different, and the bank will not tell you until the file is rejected. Get a test file validated by the bank early — early meaning a month before go-live, not the week of it.
The full lesson is part of the course
The video, the complete written lesson and the module quiz are included in Implementing Cloud Financials: From Empty Pod to Go-Live, with a certificate on completion and a fourteen-day refund window.
In this module: Module 8 · Payables and Payments
- 1The procure-to-pay picture
- 2Common options and invoice options
- 3Payment terms and distribution sets
- 4The supplier model
- 5Creating suppliersFree preview
- 6The payments engine
- 7Payment methods, profiles, documents
- 8Invoice approval workflow
- 9End to end: invoice to payment to accounting
- 10What breaks
- 11Lab: full procure-to-pay