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iCepts Technology Group, Inc.

3 Benefits of Electronic Payment Management in Dynamics NAV 2015


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New Cash Management in Microsoft Dynamics NAV 2015 ,including how to create and manage electronic payments,  has improved the process of creating and managing electronic payments by enhancing the Payment Journal and Credit Transfer Register features and further integrating them. The following 3 benefits of electronic payment management in Dynamics NAV 2015 can help your company gain better financial management over payables.

The improvements enable users to better manage the payment creation process based on detailed information about
previous payment exports. Users that do not want to post payments until they have actually been processed at the bank can more efficiently control which open vendor documents to pay and avoid paying vendors wrongly or paying duplicate amounts. Also, the information about previous payment exports makes partial-payment scenarios easy to manage.

Finally, more information about the payment history is now being stored, thus providing better control of the payment process and making it possible to re-export payment data to electronic files.

Benefits:

1. Better control when creating payment proposals

Detailed information about previous payments export(s) is stored on open vendor documents. This makes partial-payment scenarios easy to handle. Also, users that do not want to post payments until they have actually been processed at the bank can efficiently control which open vendor documents to pay and thus avoid paying vendors wrongly or paying duplicate amounts.

2. More data available about payment export history
More information about previous payment exports is stored, which provides more possibilities to control and audit the payment process.

3. Re-export is possible from the register

It is easy to recreate a payment file, for example, when a file turns out to be corrupt or has been misplaced.

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Posted by iCepts Technology Group, Inc. a Microsoft Dynamics NAV 2015 Partner in Pennsylvania 

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