Payment Manager - Overview
The Payment Manager feature allows a user to manage batches of invoices and run, search for, and download import and extract files. If your company has added the Invoice Pay functionality to Payment Manager, you will have additional options, such as importing vendor banking information, working with check configurations, managing funding accounts, and monitoring and managing invoices.
Definitions
The table below describes definitions of payment manager terms:
|
Field |
Description |
|---|---|
Bank |
The institution providing funding services. |
Batch |
A collection of payment demands scheduled for payment and sharing the same funding account |
Batch Close |
The date the batch no longer accepts new payment demands. |
Batch Open |
The date the batch is created and begins accepting payment demands. |
Batch Schedule |
The defined close and send dates for the batch. |
Batch Send |
The date the system sends the payment demands for processing. |
Due Date |
The scheduled payment date. This is calculated at initial creation from Invoice Date plus Payment Terms, and may be overwritten. |
Funding Bank Account Confirmation |
Process where the funding bank account is validated by Invoice Pay. |
Funding Date |
The date on which the payment batch will be funded. |
On-Demand Import |
An import that can be performed from within the Invoice user interface, instead of using SAP Concur overnight services to perform the job. |
Payment Cycle |
The number of days from initiation of funding request to actual payment. |
Invoice |
A request for payment of goods and services (typically an invoice, check request, etc.). |
Payment Demand |
A collection of invoices to the same supplier. |
Payment Terms |
The period (in calendar days) allowed to a buyer to pay off the amount due to a vendor (net 30, 60, or 90 as examples). |
Payment Method |
Manner in which funds will be provided to the vendor. |
Supplier/Vendor |
Party providing goods or services to the client. |
Vendor Import |
Overnight or on-demand, the importing of supplier banking, address, contact, and other information via a data file or direct input using the user interface. |
Voucher (Card) |
Payment by an on file credit card the supplier uses on notification to debit the client’s card account the authorized amount. |
Role Required
In order to activate this feature, the user must have the Is Invoice Admin role.
For more information about general payment manager processes, refer to the General Processes folder.
For more information about Invoice Pay processes, refer to the Invoice Pay Processes folder.
