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Create Periodic Payment

Periodic Payments allow you to establish a schedule to manage recurring payments. If your organisation is set up to approve templates, a new periodic payments will need to be approved by users with the correct permissions prior to being active. Once active, a payment is created from the schedule approximately seven days before the Value Date and will be available to view and approve in the Current Payments screen.

Recurrences can be scheduled in month intervals only, e.g., every 1 for monthly, every 3 for quarterly, or every 12 for yearly. Month intervals between 1 to 12 are also available.

Methods of creating AU Periodic Payments:

To create an Australian Periodic Payment, follow the steps below:

  1. Go to the Payments > Periodic Payments screen
  2. Click New on the Control Bar
  3. Click Periodic Domestic Payment or Periodic Domestic Salary PaymentCreat
  4. Complete the sections below
Periodic Payment Information
  1. If you are entitled to more than one Division, select the Division under which the payment will be made
    Did you know that you can setup a default Division? Click here to find out more.
  2. Select the account the funds will be debited From
Recurrence Details
  1. Repeats is defaulted to Monthly as this currently the only frequency available
  2. From the Repeats Every drop-down list, select 1 to 12 month intervals : 
    • Choose 1 to create a payment instance monthly
    • Choose 3 to create a payment instance quarterly
    • Choose 6 to create a payment instance half yearly
    • Choose 12 to create a payment instance yearly
    • Or choose another month interval as required
  3. From the Repeats On drop-down, select the day of month to create a payment instance.
    If you select 29, 30 or 31 the following is displayed: “Warning: You have selected a day that is not valid for all months. Payments for invalid dates will be generated with value dates on the last business day of the month, or the following business day.”
  4. If required select Confidential Data Group.
  5. Select a Start Date from the calendar for when the payment instances will start to generate and choose an Ends option for when the payment instances should stop. It can end with a given End Date, or it can end After a number of occurrences. Up to 60 occurrences can be added.
    Start Date must be the current day plus one.
  6. Select an option for how to manage Non Business Days: 
    • Process on previous business day, e.g. if run date is Saturday 15th, Value Date of the direct debit instance will be the Friday 14th
    • Process on next business day, e.g. if run date is Saturday 15th, Value Date of the direct debit instance will be the Monday 16th
Periodic Payment Details
  1. Enter a Periodic Payment Name up to 16 characters. This will become the Payment Name when you create a payment from the template.
  2. Enter a Periodic Payment Description up to 40 characters
  3. Enter a Periodic Payment Reference up to 18 characters. This will appear as part of the narrative on the credit account and receiver's statements and on payment reports.
  4. Enter a Statement Narrative up to 40 characters. This will appear as part of the narrative on the credit account statement.
  5. Select a Direct Entry User ID from the drop-down list
  6. Select the Disable Beneficiary changes for Payments created from this Periodic Payment checkbox if you need to prevent users adding new beneficiaries or editing details of existing beneficiary in payments created from this periodic payment
Beneficiary Details
  1. Click Add to add a payment instruction to the listbene
  2. Add Beneficiary  
    Add Beneficiary from your Beneficiary List
    Click in the Beneficiary Name field and select a beneficiary from the drop-down list. You can also use the Search Beneficiary feature to find a beneficiary in your Beneficiary List.
    Add New Beneficiary
    1. Click in the Beneficiary Name field and click Add New Beneficiary
      If Add New Beneficiary isn't visible, you do not have entitlements to create Beneficiaries.
    2. Enter the Beneficiary Name
    3. Enter the 6-digit BSB associated to the Beneficiary Account Number (no spaces or hyphens)
    4. If available, enter an Email Address
    5. Enter the beneficiary's 9-digit Beneficiary Account Number (no spaces or hyphens)
    6. Click Proceed
  3. The lodgment Reference contains the Periodic Payment Reference and can be changed for this beneficiary if required. The lodgment Reference can be up to 18 characters and will appear as part of the narrative on the debit account and beneficiary's statement and on payment reports. 
  4. Enter the Amount to remit to the beneficiary
  5. If required, click Beneficiary Payment Details to update the following:
    Remitter Name
    The credit account short name is displayed in Remitter Name and can be changed for this beneficiary if necessary. The Remitter Name can be up to 16 characters and will appear as part of the narrative on the beneficiaries statement. 
    Trace Account
    By default the Trace Account in the Batch Defaults is selected but can be changed for this beneficiary if necessary. Click Save at the bottom of the screen.
  6. Repeat above steps to add each beneficiary to the periodic payment
To remove one or more payment instructions from the list, tick the checkbox next to the instruction number and click Remove.
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Review and Submit
  1. After you have completed all the periodic payment information, click Review & Submit at the bottom of the screen:
    Click Close on the Control Bar to discard the periodic payment.
    Click Save as Draft on the Control Bar to complete the periodic payment at a later time.
    Error?
    1. Review the highlighted fields on screen and update as required. If a beneficiary has an error, there will be a warning message in the payment bit instruction:
      error.PNG
    2. Click Beneficiary Payment Details to view the error in the Beneficiary Payment Details pop-up window
  2. Review the periodic payment details and click Submit to submit the periodic payment:
    If the periodic payment details are not correct, click Previous to return to the previous screen and edit the periodic payment as required.
    RESULT:
    • If your organisation requires Templates to be approved, a confirmation pop-up window is displayed advising that the periodic payment has been submitted for approval. The periodic payment will need to be approved (or rejected) before it can be used to create a payment. 
    • If your organisation does not require Templates to be approved, a confirmation pop-up window is displayed, and the periodic payment is active and will begin to create payments as per the schedule