Payment Wizard

The payment wizard enables you to generate incoming and outgoing payments in batches as bank transfers, checks, and/or bills of exchange, according to the selected open A/R and A/P  transactions and the selected payment methods. Steps involved in running the Payment Wizard are: - 

• Step 1 - Payment Run Selection

• Step 2 - General Parameters

• Step 3 - Business Partner - Selection Criteria

• Step 4 - Document Parameters

• Step 5 - Payment Method - Selection Criteria

• Step 6 - Recommendation Report

• Step 7 - Save Options

• Step 8 - Payment Run Summary and Printing

The results of running the payment wizard are: - 

• The relevant incoming payment and/or outgoing payments are created. 

• The fully paid A/R and/or A/P transactions are closed and the Applied Amount field is updated accordingly.

• The partially paid A/R and/or A/P transactions are still open and the Applied Amount field is updated accordingly.