Automating AP electronic Payment Numbers in Dynamics 365 Finance

by | April 30, 2021 | Dynamics 365 for Finance and Operations

Clients have asked if there is a way, we can auto-generate a number for a Vendor ACH electronic payment in the payment reference field in Dynamics 365 Finance.

Instead of trying to manually come up with a numbering scheme and remembering the next number every time you do a new payment batch, it would be nice to have the system generate those numbers for you.

This blog will show you how automate electronic payment numbers in Dynamics 365 Finance version 10.0.18.

Required Setup:

Step 1: Go to Accounts payable->Setup->Accounts payable parameters->Settlement options->Enable electronic payment number

step 1

Step 2: Go to Accounts payable->Setup->Accounts payable parameters->Number sequence options->Electronic payment number->select View details on number sequence code column

step 2

Step 3: Number sequence setup:

The below is just an example, you can set it up however you like.

step 3 number sequence setup

Step 4: Setup a Method of Payment for ACH

Accounts payable->Payment setup->New

step 4 setup a method of payment

Step 4.a: Select Payment specification (Top menu) add information

step 4.a select payment specification

Step 5: Vendor must have a Bank Account setup in the Vendor master

step 5 vendor must have a bank account setup

Processing payments

Create a Vendor payment journal:

create a vendor payment journal

 

After Generating payments:

The Electronic payment number and Payment reference fields are populated with the number sequence

after generating payments

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