Payments

Payments

A payment is a transfer of money from one party to another. Open Account Automation generates two types of payment:

• Maturity payment: A payment made by a buyer to a supplier to settle an Invoice.
• Matching fee payment: A payment made by the buyer to Kanexa for a matching fee.

A payment may relate to one of several invoices.
 

Viewing payment information

1. Payment Ledger

• Payment Ledger is a list of payment records. 

 

2.  Payments

• The payment Ledger includes payment records for maturity and matching fee payments.
• Any payment in the Ledger may already be settled or due in the next few days.
• Payments are consolidated so one payment may relate to several Invoices.

 

3. Payments statuses

• The status of a payment can be one of the following:   
   The payment is due imminently, the bank has been instructed to make the payment but not                             yet acknowledged the instruction.
   The bank has rejected an instruction to make the payment.
  
   The bank has been sent an instruction to make the payment after the previous instruction                                 was rejected.
   The bank has acknowledged receipt of the instruction and accepted it.
  
  If you find a rejected payment in the Payment Ledger, please contact our Support Team.

• You can view the details of a payment by opening it from the Payment Ledger. The details of a payment include the type (Matching fee or Maturity payment), the issuer, the beneficiary, and the invoices associated with the payment. 

  
   

Still having trouble? We're here to help! Contact our Customer Support Team.