Financial Management - PSFT (MOSC)

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United Arab Emirates 'Purpose' Codes?

edited Feb 12, 2018 4:03AM in Financial Management - PSFT (MOSC) 1 commentAnswered

Hello all

We have been advised by our bank that payments to the United Arab Emirates now require a 'Purpose' Code to be defined for each payment made in AED.

A list of pre-defned codes with descriptions have been provided for different types of payments. The only existing thing I can relate this to is 'Standard Industry Codes' (SICs).

My question is as follows: Where on the PeopleSoft Vendor or Voucher can we specify this new code? Would PeopleSoft provide a new field for this, or will they recommend using any free existing field? Or custom building a table to store all 50+ codes and mapping this to an existing field?

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