Payment Groups

With payment groups, 365 business Banking applies a collective payment of a central account to the open entries of all members, for incoming and outgoing payments.

Business Value

In purchasing associations, branch networks, franchise systems and corporate groups, a central account settles the entries of several customers or vendors with one payment. In standard Microsoft Dynamics 365 Business Central, a payment only applies entries of one account. You must split and repost the collective payment manually. With payment groups, 365 business Banking distributes the payment automatically on posting.

Feature Description

• On the Payment Groups page, you define, per payment group, the Account Type (Customer or Vendor), the Central Account No. and the Members.
• In the Payment Reconciliation Journal, Apply Automatically forms a collective application across the entries of the central account and the members, based on the document numbers in the payment reference or on the amount. Apply Manually offers the open entries of all accounts of the payment group.
• For outgoing payments, the extended payment suggestion creates one payment to the central account for the entries of all members.
• On posting, the payment is distributed to the members in the same transaction through regular applications. Unapply Entries reverses the distribution.
• Customer and vendor cards show the Payment Group FactBox and the Payment Group action.

Details: Payment groups