Preparing your setup for Payment Management
To make it easier to start working with Payment Management, see the following checklist:
|Area||Make sure to:|
|BC setup||Make sure to use bank accounts.|
Set up an ending number on all number series related to the bank module (payment journal, cash receipt, reconciliation, and so on.)
|Bank account ledger entries||Close and reconcile all bank account ledger entries in BC up to a date that is close to the PM implementation date.|
|Vendor bank account setup||Make sure that the vendors contain the following information: Payment Method, Bank, Master data, Branch number, Account number, IBAN, and Swift.|
|Bank accounts||Make sure that all bank accounts contain master data, branch number, account number, IBAN and so on.|
For some direct communication connections such as Bizcuit to allow multiple approvers, you must have the required permissions in the bank environment.
|Bank agreement||Create a bank agreement with the bank related to direct data exchange through API.|
Order or set up recurring reconciliation and cash receipt files from the bank (CAMT 53 and CAMT 54). See the Bank integration article for more information.