Check your knowledge

• 2 min.

1. 

An accountant receives a complaint from a vendor who claims they are not receiving proper notifications about payments. What steps can the accountant take to assist the vendor?

Update the alternative vendor information to ensure the remittance information is not rejected by the bank.

Set up a separate remittance advice template that can only be used for this vendor.

Rebuild the remittance advice information for the vendor to include all necessary details.

Adjust the remittance settings on the vendor card to ensure notifications are sent correctly.
2. 

To prevent payments from being processed on regional bank closing days, you can:

Use an assisted guide to set up custom days.

Choose the option "Select Manually" in the Move Payment Date field.

Import the latest Bank Closing Day schedule from Continia Online.

Mark the specific days on the Banking Export Setup page.
3.

If the payment falls on a bank closing day, what are the benefits of moving a payment forward? (Select two correct answers)

Improve cash flow by making the payment as soon as possible.
Automatically extend the due date without penalty
The payments is made on time.
You'll be sure to receive any applicable payment discount.
Check your answers