Setting Up Basic Data for Payment 

This step is mandatory.

In the Payment Basic Data , you should define the following basic data:

• Payment Series is used as an ID for different types of payments. Three payment series are generated during a company creation: SUPAY (supplier payments), CUPAY (customer payments), and GNPAY (general payments used in Mixed Payment for Direct Cash or Bank Fee). You can define your own series ID. The recommended minimum number of payment series is two: one for customer payments and one for supplier payments. You can enter a new series, modify the description of an existing series, or delete a series. These series are used when recording payment transactions. Open the Payment Number Series to define the range of payment transaction series number. 
• Payment Types identifies the function that creates the payment and the type of operation to which the payment refers. It is linked to the payment series ID created above. Default data is generated during the company creation. However, if you have defined your own payment series above, you need to link the proper payment type to your series ID. 
• Write Off Codes are used if you are using the write-off function for customer payment. This is used in conjunction with the posting control PP17. Once you have set up the write-off codes, you can specify the maximum amount each user is allowed to write-off, by using the Write-off Limit per User dialog box. Write-off codes can also be linked to a Write-off Notice Templates, defined in the Credit Management Basic Data window so that a courtesy notice can be sent to customers when their unpaid invoices are written-off. 
• Optionally, Difference Codes is used during customer payment applications to close the remaining balance of open customer invoices and create a new difference item equivalent to an invoice. Difference codes can be linked to Difference Notice Templates defined in the Credit Management Basic Data window, so that a Difference Notice can be sent to a customer to remind him that the invoice is not fully paid. 
• Optionally, Deduction Rules defines the algorithm for calculating the deduction amount (similar to the chain of discount) when applying a customer payment. The deduction rules are tied together in the Deduction Groups window.
• Optionally, Tax Withholding Table defines the tax withholding amount tables used by the company, when the tax code used for the calculation of the withholding tax amount has the Use Withholding Amount Table check box selected.
• Optionally, Collectors are used to create or modify collector information to be used with customer payment receipts of the company.
• Optionally, Payment Method Rules defines the algorithm for selecting payment methods for the payee when working with payment proposals. The selection is based on the total payment amount for the payee and the relevant currency, with a possibility to define many amount levels and to connect different payment methods to different levels. Use the Payment Method Rule window to define the details of the algorithm . The payment method rule should be linked to a supplier defined in the Supplier window. 
• Optionally, Confirmation Statement Templates is used to enter information to be used in Customer Statement of Account and Supplier Statement of Account reports.

Note: Check posting controls PPx to ensure they are set up properly to process payment.

Specify General Mixed Payment Information

Specify General Customer Payment Information

Specify General Supplier Payment Information