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Payment Formats

Use the Payment Formats window to define the payment formats you need to define payment documents in the Banks window. You define payment formats for the four payment methods that Payables uses. You can define as many payment formats as you require for each payment method; however, each payment format must be unique for that payment method.
You choose a Build Payments program, and a Format Payments program for each payment format. You can choose any payment program that you have defined in the Payment Programs window or any standard program Payables provides. You do not have to define a Separate Remittance Advice program for a payment format, because you can include the separate remittance advice program in your Format Payments program. Each Format Payments program provided by Payables includes a remittance advice program. You can, however, control how many invoices to include on your remittance advice.
You can define a separate payment format for each of your payment currencies. If you assign a currency to a payment format, you can use that format only with a bank account whose bank account currency is the same as the format currency. If you use a payment format to pay multiple currency invoices and do not assign a currency to the payment format, you can only use that format with a bank account for which you also allow payment of multiple currency invoices. When you define a bank account, you can only allow payment of multiple currency invoices if the bank account currency is your functional currency.
You can also specify the number of invoices allowed per payment, the invoice grouping, the position of the check stub (for payment formats using payment programs that produce a stub), and whether the payment format can be used for multiple currencies and zero-amount payments only.
Defining Payment Formats
Prerequisites
 i) Define payment programs
ii) If you want to define either a foreign currency or multiple currency payment format, enable the Allow Multiple Currencies Payables option.

To define payment formats for payment documents:
1. In the Payment Formats window, enter the name of the payment format you are defining. This name will appear in a list of values in the Payment Documents window.
2. Select the type of payment method that this payment format will use.
If you want the payment format to pay only zero amount payments, enable that option.
If you want this format to group payments by due date, enable the Group by Due Date option.
3. Either enable the format for multiple currency payments, or select a single currency.
4. Specify if you want the payment format to print a remittance advice on a payment stub, and if so, if you want it printed before or after the payment document.
Enter the number of invoices you want to appear on your remittance advice for this payment format.
5. Choose a Build Payments Program.
6. Choose a Format Payments Program.
If you use the Automatic Bank Transmission feature, you must choose one of the following electronically transmittable payment programs: NACHA, BACS 1/2 Inch Format Payments, or Format Payments (U.S. Treasury
If you selected None for the Remittance option, choose a separate remittance program.
7. Save your work.

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