Payment agreement

When a payee receives return files with processed and/or rejected deductions all entries where the deduction is made are imported and processed in the same way as an normal payment (OCR). A batch is created for the payment agreements and if they are found from the CID definition, the appropriate row in the Payment agreement table is updated. The Last paid amount field is set as the amount that was deducted, the Aggregated amount field is updated with the amount that was deducted and the Text code field is set as the number of times remaining for making a deduction.

Remember that the agreed amount should be inclusive of VAT.

It is moved to the next valid date if this is sooner than the date of the deduction.

The date is validated using the regional settings in Windows.

The file is read by some EFT systems and if the customer exists in the Associate table, a row is created in the Payment agreement table with the correct factoring number in relation to the one in the Factoring company table, with the correct customer number. In addition, the Registration type field is set as New agreement, and in the Agreement ID field a unique ID is created for the payment agreement. If the customer does not exist the entries appear in the error list.

It contains messages for users about errors when sending payment agreements and/or information from the bank when importing payment agreements.

It contains messages for users about errors when sending payment agreements and/or information from the bank when importing payment agreements.

When a payee receives return files with processed and/or rejected deductions all entries where the deduction is made are imported and processed in the same way as an normal payment. A batch is created for the entries and if the entries are found from the CID definition, the appropriate row in the Payment agreement table is updated. The Last paid amount field is set as the amount that was deducted, the Aggregated amount field is updated with the amount that was deducted and the Text code field is set as the number of times remaining for making a deduction.

The Last run no. field is automatically updated by the system.

Deductions, changing and shredding of deductions

For payment agreements that are OK and where the payees now wish to send deductions files, this is done by setting the correct value in the Registration type field for the relevant customer/agreement line in the payment agreements, and by completing the necessary fields for Agreed amount, Payment date, Period type, Payment term type, Text code and Reference (if the reference should have a fixed value). If the Reference field is not to have a fixed value, the Factoring CID-def. field in the correct row in the Factoring company table is inserted.

The date is validated using the regional settings in Windows.

0 - On due date

1 - First banking day in period

Applies to self-renewing tasks.

2 - Last banking day in period

Applies to self-renewing tasks.

0 - Once, on due date

1 - Daily

2 - Weekly

3 - Monthly

4 - Quarterly

5 - Bi-annually

6 - Yearly

Lookup is made against Registration type, payment agreements.

The date is validated using the regional settings in Windows.

The date is validated using the regional settings in Windows.