Electronic payment to vendors can be done using Navision 2017. This reduces manual work and also errors that can be caused during payment. After specifying the payment details in the payment journal, the file can be exported. This file then has to be transmitted and uploaded to the bank to process the payment. Once it is confirmed that the payment is received and processed by the bank, it has to be posted. The details of the exported file are visible in Credit transfer registers. This helps to find what has been exported and by whom.
In this article, we will be demonstrating steps required for doing Electronic Payment to vendors.
Microsoft Dynamics Navision 2017
Our goal is to do Electronic payment to Vendors for their unpaid Invoices in Navision.
Electronic Payment to Vendors basically consists of the following steps:
Go to bank accounts of the vendor.
Make sure valid Swift code and IBAN is assigned.
Choose preferred bank account for this vendor.
Allow Payment export should be selected.
Select the newly created batch as the ‘Batch Name’. ‘Applies to Doc. Type’ should be selected as ‘Invoice’.
When ‘Applies to Doc. No.’ is clicked, a list of all the unpaid invoices for this vendor will be displayed.
The invoice for which Electronic payment has to be done is selected.
When you receive confirmation that the payments are successfully processed in the bank, you can post the exported payment journal lines.
Once it is posted, check the vendor ledger entries of the vendor for which the payment is made. Select the payment which is made and click on applied Entries. The vendor invoice for which this particular Electronic payment is done will be displayed and vice versa is applicable.
The GL Entries for this particular vendor will be visible by selecting the Payment and then clicking on ‘Navigate’ in the ribbon.
The amount has been deducted from our bank account and added to the vendor bank account.
In the credit transfer register, the details of the exported file will be visible.
Thus, Electronic payment is a very beneficial way of doing payments to vendors since it makes the entire process of doing payment easier and faster. Also, all the exported files history can be viewed anytime as it gets saved in the Credit transfer registers.
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