The BACS (Banker’s Automated Clearing System) electronic payments functionality is driven by the A/P payment mode.
Prerequisites
The GB (Great Britain) application must be activated in the Application definition table.
The following features are included in the functionality:
- Facility to generate BACS processing date.
- Creation of a data file in two formats as per the BACS standard layout:
- Transaction only.
- Transaction with contra records and standard headers and trailers.
- Production of a remittance advice.