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Prepare Direct Payment File
OBJECTIVE
The Prepare Direct Payment File function is used to prepare the file that will be processed by the financial institution to withdraw the payment amounts.
An individual disbursement will be created to facilitate bank reconciliation. The disbursement will be credited to the bank account and debited from the bank account for direct payments.
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The disbursement created is automatically considered printed and the cheque number is the date on which the file was created. The cheque is generated for the supplier specified in General Settings. This option creates a payment confirmation that will be sent to the supplier using the confirmation method specified in Supplier Management, Direct Payment tab. |
PREREQUISITEs
- The Direct Payment option must be installed.
- Must have a bank account configured for direct payment disbursements.
- The Purchasing module’s tab must be configured.
- A disbursement must be made for a supplier for which the payment method configuration is V-Transfer in Supplier Management.
- The payment confirmation must be printed using the Print Cheques option, by selecting the Print Direct Payments option in the Action field.
Steps
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maestro* > Purchasing > Purchasing > Payment > Prepare Direct Payment File |
Prepare the direct payment file
- Select a Bank Account.
- Enter a Payment Date.
This date will be printed on the payment confirmation. Maestro* only displays payments whose disbursement dates are the same as or earlier than the selected date.
If in the Bank Accounts the Format 1464 multi-date is set to Yes, the file will be generated with the disbursement date. If the Format 1464 multi-date is set to No the file will be generated with the date of the deposit.
- Select the Reversal Date to Use, either the Disbursement Date or the Payment Date.
If a reversal entry must be made from the "temporary" bank account to the "real" bank account, note that it is possible to perform this entry on the payment date, instead of the disbursement date, by selecting the Payment Date value. This can be particularly useful if the preparation of the direct payment file contains disbursements generated in a financial period that has since been closed.
- Click Accept.
- Select the transactions to be processed by checking the Selection column.
It is possible to check all of the transactions by clicking the Select All icon.
It is possible to change the text for the payment confirmation by e-mail by clicking the Edit the payment confirmation by e-mail icon.
- Click Apply.
At this stage, a file is created and saved according to the Direct Payments tab in Configuration.
If no file location is entered, maestro* saves the direct payment files in the user’s Documents directory by default. This directory can be accessed with Windows Explorer, and can be found, for example, in the Libraries or My Documents section.
Maestro* creates the file and displays the following message on the screen: "File is now ready in folder:File Location Name”.
If user clicks OK, the system displays the payment confirmation in the report viewer. If the user answers Open Location, maestro* opens one window and displays the location on which the direct payment file was saved and displays the payment confirmation form in the background.
If two files are created on the same day, maestro* only keeps the last file created. The file is not cumulative.
This warning does not apply to the Laurentian Bank. For the Laurentian Bank, the file is named according to the following syntax: the first 4 digits of the issuer’s number followed by 4 digits representing the creation number.
For National Bank, the file is compressed in .zip format. It is named using the following syntax: TF03800 followed by issuer number .zip.
See also