Many options for optimizing your payments
With Continia Payment Management, you get a solution that expands the standard functionality in Business Central on-premises with advanced functions that optimize your payments and make your everyday life easier, faster and smarter.
Aggregation of payments per. vendor
The aggregation of payments can take place at the same time as a payment suggestion is created, or you can use the function after the payment suggestion has been created. At the same time as the items are aggregated, a notification is formed that documents to the vendor what has been aggregated, including which invoices and credit notes the payment covers.
Unique payment reference
All payment entries always have a unique payment reference (UPR - Unique Payment Reference) when you use Continia Payment Management. The payment reference follows the payment all the way through the system, from the time you make a payment until it is received again on the electronic account statement from the bank, where the entry must be reconciled.
UPR thus automatically ensures a 100% match on all payment items. Unique Payment Reference is a concept that is only implemented in Continia Software's products.
Automatic filling in Payment ID
When you receive a purchase invoice with a payment slip, the payment slip have a Payment ID (OCR line), which must normally be entered on the purchase invoice. If you at the vendor card have filled in a "mask" that defines how the Payment ID is interpreted on the purchase invoice, the field is filled in automatically on the payment. If you also use Continia Document Capture, the Payment ID will also be transferred automatically.
Currency fixed balance account accounts
With currency fixed balance account, you can define which bank account to withdraw from when a payment is made in a specific currency. The function is used when a certain currency has to be withdrawn from a certain account, either for this vendor alone, or for all vendors.
Approval flow
On all bank accounts, you can create procurement that governs who can approve payments for the specific bank account. When you setup approval flows, you define procurement groups which determine, how many approvers is required to approve a payment, as well as how much an amount the individual approver can approve.
Status and history of the individual payments in the payment journal, indicates how far in the approval flow the payment has reached. Once all payments have been approved, payments can be sent to the bank, either individually or the full journal. The approval flow can be a crucial feature to increase the security of your financial system.