Accounts payable functionality

The fields as described in the following subsections are available to control the additional functionality for accounts payable.

Vendor payments

The Vendor payments form is used to set up and generate the EFT file from your Dynamics 365 environment. Within this form, you will set up the details regarding the payment of the vendor account, that will be utilized when sending EFT file to your bank.

Note: Finance utilities EFT formats is planned for deprecation; no timeline, but a 12 month notice will be provided.

** Finance utilities EFT formats: When setting up Vendor Method of payments and selecting Export format, Finance utilities currently provides formats with Class name that start with ECL_VendOutPaym.

Some improvements to the Accounts Payable EFT payment processing have been created, these include:

• The following only applies to vendor payments with a method of payment using the Finance utilities EFT formats **
  • Balance line on the EFT file.
  • Vendor bank account name used on EFT file instead of Vendor name.
• The following applies to all method of payment format:
  • Auto generating a Payment reference for each EFT payment which can be traced in Vendor’s Bank Statement, AX Bank Transactions/Reconciliation and Payment Advice.
  • Payment advice report, a specific EFT Remittance Advice report with additional details.
  • Payments report, additional fields.
  • EFT file name generation

Balance line

Note: Only applicable to custom Finance Utilities EFT formats **

Finance utilities has parameterised the format of the last two balancing lines on EFT file payments. Standard Australian EFT file formats provided by Microsoft always include a balancing line; however, many Australian banks do not require it or require an additional totaling line. It also hardcodes the order of the dollar values in this total and so this enhancement allows both settings to be controlled through Bank account parameters.

This can be set per company bank account. To open the the Bank accounts page, go to Cash and bank management > Bank accounts > Bank accounts.

• Highlight the Bank account from which EFT payment is drawn.
• Expand the Payment management FastTab:
• Extra balance line on EFT - some banks require an additional ‘balancing line’ to be the second last line of the EFT file generated. If your bank requires this, then enable this option.
• Include balance line in record count – as per the above point, if the extra line is to be included in the last record line count, enabnle this field. This option is only selectable when the above option has been enabled.
• Total line order – here you can determine the order of amounts on the balance line in the EFT file. The following options are available:
  o Total net, total credit, total debit
  o Total net, total debit, total credit
  o Total credit, total debit, total net
  o Total debit, total credit, total net

Vendor bank name

Note: Only applicable to custom Finance Utilities EFT formats **

This setup will use the Vendor bank account name instead of the Vendor name when generating the EFT payment file.

This can be set per company bank account. To open the the Bank accounts page, go to Cash and bank management > Bank accounts > Bank accounts.

• Highlight the Bank Account from which EFT payment is drawn.
• Expand the Payment Management FastTab and select whether the EFT file should Use vendor bank name.

EFT file name generation

Note: Applicable to custom Finance Utilities EFT formats and Electronic reporting formats

This modification is to automatically populate EFT file name based on the number sequence pattern. File information fields will be automatically filled with the file name that has following pattern: File name when Enable file parameters is set to:

• Yes: ‘File name mask’ & NumberSequence.FileFormat
• No
  • Finance Utilities EFT formats: ‘Method of payment’ & ‘Bank account’ & ‘Date/time’
  • Electronic reporting formats: Blank

1. Set the Number sequence in the Accounts payable parameters
   • On the Number sequence FastTab, set a sequence for EFT file name
2. Set whether the method of payment should automatically generate a filename for the EFT file. To open the the Methods of payment page, go to Accounts payable > Setup > Payment setup > Methods of payment.
   • Highlight applicable method of payment
   • Expand EFT FastTab and select Enable file parameters
   • File name mask. Default when Enable file parameters is enabled: BankAccountId. Use Editor to edit the default.
   • Enter File format, example txt

Editor can be used to edit the file name mask. A combination of static values and placeholders can be assigned.

Automatic generation of payment reference

This functionality populates the Payment reference field in the Accounts payable Payment journal line automatically with a unique number when generating the EFT payment file. Each payment line is unique regardless of the number of vendors during generation via EFT method of payment.

The following setup is required.

• On the Methods of payment page, set Auto payment reference number to Yes.
• On the Accounts payable parameters page, select the Number sequences tab, and set a number sequence for Payment reference.

This number sequence Payment reference will be used when generating payments for a method of payment which has the auto payment reference checkbox selected. After the payment has been generated, the Payment reference number is reflected on:

• Header of the Finance Utilities Payment Advice report
• Populated on the Payment reference field on the journal lines

Note: If the payment status is changed from Sent to None and the payment is generated again, a new payment reference number is generated and replaces the old on the journal line. The payment advice when reprinted reflects the correct reference number

Payment advice report

A custom-built report has been developed to provide a remittance advice to vendors upon processing a payment run. The report will show the vendor bank account details where the payment is deposited, as well as the invoices numbers paid, what amount and what discount applied. This remittance advice report works in conjunction with the Smart Send Emailing functionality. The report is available when Payment status is Sent.

Users can select to use the custom-build report by navigating to Accounts payable > Setup > Forms setup.
On the General tab, select Print management.
Expand Module - accounts payable and select Payment advice. If a record doesn’t exist for the document, right-click and select New. A new original or copy record is displayed. In field Report format, select the applicable Finance utilities payment advice report. If feature ‘Enable batch processing for bank payment advice reports’ is:

• Disabled - user will be able to select report ECL_BankPaymAdviceVend.Report
• Enabled - user will be able to select report ECL_BankPaymAdviceVendV2.Report

The Payment advice report can be used in conjunction with sending via Email to the Vendor. Access to the new form is available from;

• Accounts payable payment journal (from Accounts Payable > Payments > Payment journal – when set as Sent the journal line is available for printing
• Vendor’s transactions
• Payment history on the vendor

Payments report

When creating a Vendor payment journal, it can be useful to print the Payments report to reconcile vendor bank details, before generating the EFT file. Finance utilities has added the following fields on the right for each Vendor payment line:

• Vendor bank name
• Vendor BSB
• Vendor account

No setup is required to enable the additional fields on the report.