Specifying payment details

You must specify the details for Interbank transfer on the Payment Details page and verify the details on the Verify Payment page.

The key details for an Interbank transfer are:

Payor information

Payment details

With Holding Tax details

Additional information

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

· You can also fill in partial details and complete the transaction at your convenience later.

Payor information

1. Specify the following payor information:

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

• Payment Currency: The payment currency is auto-displayed.

• Payment Description: The payment description is auto-displayed.

• 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.

• Credit: The nature of the transaction as Credit is displayed on the page based on the selected product.

• Confidential: The Confidential check box is auto-selected. You can not deselect the check box. If this check box is selected, the transaction is visible only to the maker of the transaction.

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

2. You can create a Recurring Transactions for the current transaction. The Recurring Transactions that you create is listed on the recurring transaction page. Specify the following details:

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

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

• Type of date: Specify the required date on which the payment is to be made. The available options are:

– SI Execution date

– 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 as weekly, fortnightly, every 3rd week, or every 4th week. Additionally you can 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 as quarterly, semi annually, annually, or the exact month as period. Using the Reference Day field, you can specify the exact date when you want the recurring transaction to recur.

– Specific Day: Select the Specific Day. You can select the particular day of the week on which you want the recurring transactions 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 day for the recurring transaction is auto-displayed.

Payment details

3. You can choose to make a payment to a registered receiver or an adhoc receiver.

Registered Receiver

1. Select the required receiver name from drop-down list. The Receiver Email, Receiver Account, Currency, Identifier Type, Identifier, and Bank Branch Name fields are auto-populated. The Switch to Adhoc Receiver link appears on the page.

2. Specify the following details:

• Upload File Image: Click the Browse hyperlink and upload an image of the file.

You can upload multiple file images for the transaction.

• Charge To: The option to whom you want to charge is auto-displayed.

• Specify the contact info such as Address and Mobile No.

• Amount: Specify the payment amount.

For additional details, see more receiver information.

Adhoc receiver

If the receiver does not exist in Fusion Cash Management (FCM), click Switch to Adhoc Receiver link and specify details about the ad-hoc receiver. Select the Add Receiver to Directory check box and specify the Receiver Short Code.

For field level details, see Adding a Receiver.

· You can also choose to save this ad-hoc receiver information in FCM for future use.

· Click here to view the special characters allowed for the Receiver Name field.

Specify the additional details such as Address Line and Mobile Number.

With Holding Tax details

Specify the following WHT details:

• Specify the WHT amount. This amount is the total taxable amount applicable.

• Specify the Receiver's Tax ID.

• Select the required Form Code. The available options are:

– 2307 (Default)

– 2306

• Specify the Certification Ref Number.

· If WHT Sequence No is configured as Auto in Client Profile, Certificate Ref Number is auto generated while printing the certificate.

· If WHT Sequence No is configured as Manual in Client Profile, specify the certificate ref number details while printing the certificate.

• Click WHT Certificate Printing to print the certificate.

• Click Add WHT Details to specify the following WHT additional details:

– Nature of Income Payments: Specify the payment purpose.

– ATC: Specify the ATC Tax code details.

– 1st Month of Quarter: Specify the paid amount in the First month of the quarter.

– 2nd Month of Quarter: Specify the paid amount in the Second month of the quarter.

– 3rd Month of Quarter: Specify the paid amount in the Third month of the quarter.

– Total: Specify the total payment amount paid.

– Tax With Held For Quarter: Specify the total WHT amount for the quarter.

The WHT amount is the division of the taxable amount.

Additional information

You can choose to make a payment to a registered ordering party or an adhoc ordering party.

Registered ordering party

Select the name of the ordering party. Details such as the Email, Ordering Party ID, Country, State, City, and ZIP Code, contact details, Tag 50a information line 1 to 4 is auto-displayed for a registered ordering party.

Adhoc ordering party

If the ordering party does not exist in FCM, you must specify the required details about the ad-hoc ordering party.

You can also save this ad-hoc ordering party information in FCM for future use. You can select the Add Ordering Party to Directory check box to save the specified ordering party details.

For field level details, see Adding an Ordering Party.

Select Payment details and specify unique to identify the customer.

Specify the additional details such as Debit Reference and Debit Reference, Debit Description and Credit Description, Purpose Code and Description, and Customer Id.

Click the Add Addenda button and specify Invoice Number, Work Order Number, and Name of fields.

Click Save and Next to save the details and proceed to the Verify Payment page.

Following is example of Payment Details:

Where to go from here

Verifying and submitting the payment