Reference: Payment Processing Capabilities
You can view high-level feature descriptions for the capabilities in this product area.
Manage Checks
Provides the ability to:
- Create positive pay files for financial institutions.
- Escheat payments.
- Print checks for settled payments.
- Report on issued checks.
- Void checks.
Manage Payments
Provides the ability to:
- Receive payment acknowledgements from banks.
- Record payments that banks have returned.
- Record stopped payments.
- Report on settlement activity.
- Send remittances.
Payment Integrations
Provides the ability to send and receive payment data through integrations that support various payment standards.
Payment Methods
Supports the configuration of payment types based on various payment methods.
Payment Purpose Codes
Provides the ability to:
- Configure payment purpose codes for countries where they are required for payments.
- Apply payment purpose codes to ad hoc payments, bank account transfers for settlement, miscellaneous payment requests, and supplier payments.
Settle Payments
Supports settling unpaid open items and pending payments. The functionality provides the ability to:
- Configure cash balance checks.
- Configure format validations for payee bank accounts.
- Make multicurrency settlement runs.
- Schedule settlement runs.
- Schedule prenote runs to validate electronic banking information.
- Store bank details for creating and editing payee bank accounts.