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Defining the payment information

You can specify batch header information pertaining to batch payments using the payment information page. Click here to view the additional information.

You must specify the following transaction details:

Specifying payment information

·        Fields marked with an asterisk (*) are mandatory.

·        You can also fill in partial details, and save the transaction for later use.

  Specifying payment information

1.     Specify the following payment information:

•       Sending Account: Select the account from which you want to transfer funds.

The Sending Account or Receiving Account is displayed on the page based on the product setup.

•       Payment Reference: The reference for a payment is auto-displayed and editable.

•       Effective Date: By default, the application date is displayed as Effective Date. You can change the date to a future date, if required.

•       Effective Time: Specify the Effective Time if you want to debit your account and credit beneficiary account at specified time on a specific date.

·        For future dated transactions, system processes transactions at specified time and stops processing warehoused transactions during BOD.

·        If time is not specified, system processes transactions at BOD.

·        If Effective Time > Cutoff Time, system displays an error.

·        By default, the seller's local time is displayed as Effective Time.

•       Control Totals: To zero proof the batch transaction, select the Control Totals check box and specify the total amount for the batch.

•       CutOff Time: The cutoff time is auto-displayed. The transactions that are submitted after the cutoff time processes next day.

•       Credit Multiple Account: The Credit Multiple Account is displayed on the page based on the product setup.  

2.     You can choose to create a recurring transaction based on the current transaction. Recurring Transactions are listed on the Recurring Transaction page. Specify the following details for recurrence:

•       Start date: Specify the date from which you want the payment to start.

•       End date: Select the termination date for the recurring transaction.

•       Type of Date: The Type of Date on which the payment is to be made is auto-displayed as Effective date.

•       Frequency: Select the required frequency for the recurring transaction. The available options are:

–       Daily: Select daily and specify the period for which you want the recurring transaction to recur.

–       Weekly: Select weekly and specify the period. You can also specify the day of the week on which you want the recurring transaction to recur using the Reference Day field.

–       Monthly: Select monthly and specify the period. Using the Reference Day field, you can specify the exact date on which the transaction should recur.

–       Specific Day: Select the Specific Day. You can select the particular day of the week on which you want the recurring transaction to recur.

•       Holiday action: Specify whether the recurring transaction must be executed on the Prev Business Day or Next Business Day, if the execution date of the recurring transaction falls on a holiday. You can also choose to skip the recurring transaction, if the execution date falls on a holiday.

•       Next date: The next execution date for the recurring transaction is auto-displayed.

3.     You can use the Add Row, Add Accounts, or Use Transaction Wizard, or Import Transactions buttons to add multiple instruments to a batch.

Following is example of Payment Information:

Where to go from here

Specifying the payment details