Summarizing Payments

You can summarize payment lines in the payment journal, thereby sending only one payment line to the bank covering multiple payments for the same vendor. This can be an advantage if, for example, the bank charges a fee per payment line.

If the function for summarizing payment lines is activated on the vendor card and on the payment journal setup, then payment lines will automatically be summarized per vendor when suggesting vendor payments in the payment journal. Payment lines can also be summarized manually after being created in the payment journal. For more information about managing the setup for summarizing payments, see Setup for Summarizing Payments.

Payments can be summarized if:

  • The functionality is activated on the vendor card and on the payment journal. See To allow for vendor payments to be summarized.

  • The payment information values are generic for the payments. These values include: Balance Account No., Creditor No. Payment Method Code, and Recipient Bank Account.

    Note

    You can allow payment lines to be summarized even though the given values are not generic when manually summarizing the payment lines. For more information see To allow summarizing lines differing in value (only manual summation).

  • The bank supports receiving payments with long notification. Payments using short notifications can't be summarized.

    Note

    If your bank charges a fee for payments with long notification Payment Management will in most cases automatically send the payments with a short notification to avoid the fee. This means that if your bank charges a fee for using a long notification method, the payments cannot be summarized in the payment journal.

Manually summarizing payments

If you wish to summarize payment lines manually, use the Ctrl+select, to manually select the payment lines in the payment journal that must be summarized.
To validate that the selected payment lines can be summarized in regard to the restrictions and settings in the Payment Journal Setup, you can run an analysis for the selected lines. In the action bar navigate to Prepare > Analysis, this will run an analysis to investigate if the lines can be summarized. If any issues are identified for the selected lines, a page will open and list any potential issues identified during the analysis.
When any potential errors have been fixed for the selected lines you can summarize the lines using the action Summarize Lines, located in the action bar under Prepare.

See also

Setup for Summarizing Payments
To allow for vendor payments to be summarized
To allow summarizing lines differing in value (only manual summation)