Projects:AdvPaymentMngt/Test Scripts/General Setup

Contents 1 General Setup 2 Introduction 3 Add Reference Data 4 Payment Method 5 Financial Accounts 5.1 Accounting Configuration 5.2 Payment Method tab

General Setup

This section will help you on setup the accounting configuration.

Introduction

This document will explain that how to make configuration for the new Payment flow . The configuration steps has been included here so that those want to see how the accounts are mapped or need to create there own Financial Accounting Setup then this section would provide hands on steps.

Add Reference Data

The module reference can be loaded with the help of Enterprise Module Management. For that please follow the below steps:

• Click on General Setup menu
• Expand the Enterprise sub menu.
• Click on Enterprise Module Management.
• Put tick mark in the Advance Payable and Receivable (Controlled Release) module.
• Click Ok. This will load the necessary data for the module.

Breadcrumbs for the above steps, General Setup || Enterprise || Enterprise module management  ||  Enterprise module management.

Payment Method

It is the method by which payment is expected to be made or received. Each Payment Method

• have a currency associated with it. A single Payment Method works with a single currency.
• have a Financial Account associated with it.
• For example, the list of payment methods would be like this,

• Cash
• Credit Card
• PayPal
• Cheque (Requires Cheque Register showing Cheque #, Payee, Amount, Status, etc)
• Direct Debit
• Standing Order
• Bank Transfer
• Note Payable

To setup the Payment Method using Manual Execution process, please follow the steps below provided.

1. Go to Financial Management menu
2. Click on "Receivables and Payables" menu.
3. Navigate to Payment Method located under Setup sub folder.
4. Click on New button to fill up the new Payment Method.
5. Enter the required details as follows:

• Name = Manual Wire Transfer

Values for Defaults Payment IN & OUT

• Execution Type = Manual

Remain as it is for the check box values i.e. unchecked.

Please find below the screen shot.

To setup the Payment Method using Automatic Execution with Deferred option checked process, please follow the steps below provided.

1. Creating a one more new record in Payment Method
2. Enter the following details:

• Name = Automatic Simple Execution Wire Transfer

Values for Defaults Payment IN & OUT

• Execution Type = Automatic
• Automatic Receipt = Checked
• Automatic Deposit = Checked
• Automatic Payment = Checked
• Automatic Withdrawn = Checked
• Execution Process = Simple Execution Process
• Deferred = Checked

To setup the Payment Method using Automatic Execution without Deferred option process, please follow the steps below provided.

1. Creating a one more new record in Payment Method
2. Enter the following details:

• Name = Automatic Print Check Wire Transfer

Values for Defaults Payment IN & OUT

• Execution Type = Automatic
• Automatic Receipt = Checked
• Automatic Deposit = Checked
• Automatic Payment = Checked
• Automatic Withdrawn = Checked
• Execution Process = Print Check Simple Process
• Deferred = Don't check (if already checked then Uncheck the value)

Financial Accounts

It is used to configure for the payments, Default Accounting Configuration, Deposits / Withdrawals and Reconcile. To do please follow the steps for creating and configuring the Financial Accounts. The currency of the financial account is configurable (and once defined can not be changed). Payment events that use a financial account will automatically default to the currency of that financial account.

Create new Financial Account entry

1. Expand the Financial Management menu
2. Expand the sub menu by clicking on Receivables and Payables.
3. Navigate to Financial Account menu by click on Transactions
4. Enter the required / mandatory field values and save the record.

Please find below the screen shot for the creation of new record in Financial Accounts.

Accounting Configuration

Once you create a new entry in Accounts tab of Financial Accounts window. You can also find a new entry in Accounting Configuration tab with default Accounting Schema and Account combination.

Please refer the screen shot below for the tab Accounting Configuration.

Payment Method tab

After creation of new Accounting entry in Accounts Tab, navigate to Payment Method tab so that the account will be mapped with the payment method.

• Click New Record button
• Select Organization called B12
• Select the Financial Account
• Select the Payment Method for example, Manual Wire Transfer.
• Select the Execution type as Manual in Payment IN and Payment OUT section.

Please find the screen shot below.