Setting up summarization of payments
summarization of payments, is a function in Continia Payment Management which can summarize multiple payments to the same vendor. The advantage of using summarization is that you only have to pay a fee for one transfer. It is especially on foreign transfers that you can achieve large savings with summarization.
- Select the icon , type in Collecting Payments Setup, and select the related link.
- Mark the fields that should be the same when payments are summarized. Read more in the table below which rules apply.
- Select OK to close the window.
|Forced fields that must be the same||In order for several payments to be summarized, certain conditions must be met. The following conditions are set by Payment Management, and must therefore be the same: Posting Date, Vendor No. Bank Account, Payment Method and Currency Code.|
|Voluntary fields that must be the same||Here you can specify additional fields, which must be the same for payments to be collected. You can e.g. specify that the field VAT No. must always be the same before a summarization may be made. If the content of a field is specified to be the same (the fields in the column Same field content required are marked), payments will only be summarized if the content of the fields from the payment entry is exactly the same.|
|Payment methods with Short notification||It is not possible to summarize payments for payment methods using short notification. This is the case with, for example, payment method 1110100. Use instead payment method 1110200.|
|Foreign payments||For Danish payments that use 1110200, there is, with regard to the length of a notification, ample opportunity to summarize payments, namely 41 lines x 35 characters. |
For foreign payments, on the other hand, the length of a notification for most banks is limited to 4 lines x 35 characters, which limits the number of payments that can be summarized if a reasonable notice to the vendor is desired.
It can be an advantage to have selected Compress Notification on the Bank notification definition, which is associated with the payment. This ensures that the notification does not exceed the permitted number of lines.
Some banks charge a fee for payment using the payment method 1110200. Use 1110100 instead and make separate payments instead (Seen at banks that use the SDC bank).