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Creating Physical Payments

Physical Payments are paper based instruments which are used to make payments to the beneficiary.

Fusion Cash Management (FCM) enables you to create the following physical payments transactions:

•       Customer Check

•       Demand Draft

•       Cashier Order

•       Cash Payments

Based on the approval settings, the transaction generated in FCM should be approved and sent to the bank. These instruments, such as Customer Check, Demand Draft, and Cashier Order, can be printed in FCM or outside FCM and sent to the beneficiary for presenting it in their bank for crediting the account.

Demand Draft and Cashier Order are guaranteed instruments and Customer Check are non-guaranteed instruments.

For Non-guaranteed instruments your account is debited only after clearing information is received. For guaranteed instruments, your account is debited before the beneficiary gets the credit.

FCM allows you to create physical payments by:

Selecting payment type

Defining payment header

Specifying payment details

Verifying and submitting the payment

Where to go from here

Selecting payment type