Payment Management

With the Essential module, you can create payment proposals and manually send the payments to your bank via a file. With the module Direct Communication, you avoid having to handle the files manually.

Export payment files and subsequently load them into the bank's payment system. The payment files are validated to comply with the banks' requirements for file formats, preventing frustrating errors upon loading files to the bank.

File formats, payment methods, and validation rules for payments are continuously updated with Continia Online.

Create multiple payment journals for electronic payments, e.g., a journal for each bank account from which payments are made.

Define a series of settings to decide how the payment is executed in the payment journal.

Unlike the standard version of Business Central, payments to all bank accounts can be created on each payment journal, even from accounts in different banks. For a simpler overview, you can summarize all payments in the same payment journal.

All payment entries are marked with a unique payment reference (UPR). This reference follows the payment through the system, from the time you make a payment to receiving it again on the electronic account statement from the bank, where the entry must be reconciled.

The Unique Payment Reference is a concept that is implemented only in Continia solutions.

When you receive a purchase invoice with a payment slip, they have a unique Payment ID (OCR line) which is usually entered on the purchase invoice. If you have created a template on the vendor for calculating the Payment ID on the purchase invoice, the field will be filled in automatically on the payment.

When using Continia Document Capture, the Payment ID is transferred automatically.

The comprehensive validation engine and error log provide a high level of quality assurance, so you can safely send your payments to the bank while minimizing the risk of payments failing.

Summarize multiple payments to the same vendor. This can be advantageous if your bank charges high fees on individual payments. Upon summarizing the payments, a notification is created that documents to the vendor what has been collected, i.e., which invoices and credit notes that the payment covers.

Once a payout journal is created, you can see the status of each payment (displayed in both text and color) and filter the payments by their status. The lines can subsequently be processed in batches.

See what has happened to a payment after it has been created in the payment journal. You can follow the payment statuses on the individual payments.

Allows easy reconciliation of your bank accounts through your Payment Management solution, which only requires the statements from the bank in a digital form.

Bank account statements are imported into a standard journal for account bank reconciliation. Upon loading, Payment Management ensures that bank data in the digital printout is mapped correctly into the bank account reconciliation journal, thereby eliminating the need to manually map data to the correct fields.

When the bank account statement is imported, Statement Intelligence automatically finds the corresponding bank records. If there is no direct match, a possible match is proposed if there are several options.

Suggestions for counter-posting are created automatically if the bank posting can’t be found, such as payments, interest, fees, and more.

With Payment Management, all payments will automatically generate a unique payment reference ID that accompanies the payment to the bank, and with back to the bank account reconciliation journal via the account statement.

Based on the unique payment reference ID, it is possible to ensure a correct settlement.

When the account statements are loaded into Business Central for a given period, Payment Management has already closed and posted the customer records.

Statement Intelligence finds all customer payments, whether they are account transfers or in another format, including foreign payments, and creates these items on the payment document.

Download deposit files and bank account statements from the bank, as well as import bank account reconciliation files directly from Business Central automatically and without having to save the files locally first.

The ability to communicate directly with the bank from Business Central helps to increase security in the company, while eliminating the risk of errors.

The payments are approved in Payment Management and sent to the bank's online system, in one step and without leaving Business Central (or approved in the bank's online system).

Status notifications are sent immediately upon sending payments.

If there is an error in a payment, you receive a detailed description of what the error is, and you can correct the error directly in Payment Management, after which you simply send the payment away again. You do not have to log in and find them in the bank's online system.

The information provided by the specific bank is automatically created by Continia Payment Management. This saves you time by not having to obtain the necessary information yourself, while ensuring that the IBAN number is validated, and that the bank account information is filled in correctly.

This can be beneficial when you need to set up foreign bank accounts where bank information can be difficult to access.