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Implementing Cloud Financials: From Empty Pod to Go-Live · Module 8 · Payables and Payments

Payment methods, profiles, documents

Lesson 82 of 153 · 15 min

Configure the disbursement system options. Create an electronic payment method with its validations. Create a payment process profile: format, grouping rules, transmission. Create a cheque payment method and a payment document with numbering. Assign the methods to the bank accounts you built in the cash management module, and set up payment method defaulting rules. Grouping rules determine whether one supplier with five invoices gets one payment or five. Ask the client — the answer affects supplier relationships and bank charges, and it is not a technical preference. Cheque numbering must reconcile to physical stationery. Get the starting number from whoever holds the chequebook, not from the last system. And test the output file with the bank before go-live — a month before, not the week of.

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In this module: Module 8 · Payables and Payments

  1. 1The procure-to-pay picture
  2. 2Common options and invoice options
  3. 3Payment terms and distribution sets
  4. 4The supplier model
  5. 5Creating suppliersFree preview
  6. 6The payments engine
  7. 7Payment methods, profiles, documents
  8. 8Invoice approval workflow
  9. 9End to end: invoice to payment to accounting
  10. 10What breaks
  11. 11Lab: full procure-to-pay