Has any one Implemented Virtual Accounts in cash management.
Virtual accounts are bank accounts that have no physical existence, are temporary, and transact on behalf of a real, physical account. Also known as a shadow account, a virtual account has a unique account number that makes it easy to trace the funds coming through it and helps to identify the source or the payer.
Bank will provide a list of virtual accounts which will roll up to a physical bank account.
Once the list of Virtual accounts are provided by the bank. Each external customer will be assigned with a virtual account which will be printed on the AR invoice and the external customer will also quote this Virtual Account Number when they make a payment.