Payables and Cash Management - EBS (MOSC)

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CHAPS, Faster Payments - Best Practice Configuration

edited Jun 29, 2009 11:36PM in Payables and Cash Management - EBS (MOSC) 1 commentAnswered
 Hello all,
A UK client (running 11.5.10) is changing their banking services provider. As part of this they want to automate the payment of CHAPS, Faster Payments and RFTs (payments where payor and payee bank account is at the same branch). The bank has different electronic file formats for all the above (as well as standard BACS). Therefore we need to deliver a solution which allows our client to:
  • Record, at invoice entry time, the payment method to be used (CHAPS, Faster Payments, RFT or BACS);
  • Create Payment Batches, specifying which payment method is to be used.
For various reasons the client has rejected the use of PAY GROUP to facilitate invoice selection.

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