Business Functionality
As an end-to-end solution for streamlining and automating vendor payment and bank account reconciliation processes, Continia Payment Management offers considerable benefits to virtually any business. Built on a modular basis, you can customize Payment Management to suit your business needs. Every module represents an area of functionality, and you can add any modules you want. You add these using the initial setup guide, which you can access straight from your Role Center.
Essential
With the mandatory Essential module, you get all the basic features you need to validate and export your payments, thereby ensuring that they comply with the requirements of your bank.
The Essential module includes the following key features:
| Feature | Included |
|---|---|
| Detailed validation of all payments by bank requirements. |  |
| Making payments to various banks from the same payment journal. | |
| Unique payment reference for each payment, ensuring 100% correct reconciliation. | |
| Automatic creation of payment ID (generated from the OCR string). | |
| Automatic summarizing of payments in the payment journal. | |
| Manual summary of payment lines in the payment journal. | |
| Creating and sending notifications. | |
| Predefined setup for importing and exporting bank files. | |
| Setting up customer application rules to help apply customer payments in the cash receipt journal. | |
| Payment history with an overview of the payment process from the moment the payment was created in the payment journal. | |
| Currency-dependent balance accounts. | |
| Assisted setup and validation of vendor payment information. | |
| Paying employee expenses from the payment journal. | |
| Validation of payment information on vendor, purchase, and sales documents. | |
Statement Intelligence
The Statement Intelligence module assists you in the process of applying statement lines with both closed and open ledger entries. Using the features of Statement Intelligence you are close to automating the reconciliation process to a maximum.
The Statement Intelligence module includes the following key features:
| Feature | Included |
|---|---|
| Automatic reconciliation using user-defined search rules. | |
| Merging of bank account statement lines. | |
| Reconciliation of employee payments. | |
| Reconciliation of customer payments. | |
| Customer reconciliation search rules. | |
| Vendor reconciliation search rules. | |
| Employee reconciliation search rules. | |
| Rules specific to each individual bank account. | |
| Search rules for the identification of fixed payments, with auto-generation of ledger entries. | |
| Various features to ease the bank account reconciliation process. | |
Direct Communication
The Direct Communication module enables you to automatically communicate and exchange payment details directly with your bank, eliminating the need to manually import and export payment and bank account files.
The Direct Communication module includes the following key features:
| Feature | Included |
|---|---|
| Automatic import and export of payment files. | |
| Status files from your bank with information on the status of each payment (such as Sent, Received, Rejected, and Paid. | |
| Automatic import of bank account statements. | |
IBAN Lookup
IBAN Lookup makes it possible for you to automatically generate vendor bank account information based on IBAN numbers.
The IBAN Lookup module includes the following key features:
| Feature | Included |
|---|---|
| Automatic generation of bank account details based on IBAN numbers. | |
Direct Debit
The Direct Debit module includes the following key features:
| Feature | Included |
|---|---|
| Support for Direct Debit for Rabobank, ING Bank, and ABN Amro. | |
Payment Approval
With the Payment Approval module, you can set up a secure and safe approval process for approving vendor and employee payments. You can create approval workflows that include several approvers and set up whether the payment is approved based on the accumulated amount in the payment journal/line or a maximum amount per payment journal/line or vendor/employee.
The Payment Approval module includes the following key features:
| Feature | Included |
|---|---|
| Enhancement of a range of common workflow and approval scenarios not supported by standard Business Central | |
| Required approval of all payments made from a payment journal – either of the journal batch or the individual line | |
| Ability to require approval of all payments made from a specific bank account | |
| Multiple approvers with different approval amount limits | |
| Automatic approval of payments within predefined amount limits | |
| Delegation of approval requests to another user | |
| User-friendly process for approving, rejecting, or delegating approval requests | |
| Ability to send approval requests for multiple purchase documents in one combined email | |
| Functionality that enables users to add comments to a specific approval request before they handle it | |
| Searchable, secure archive | |
| Payment Approvals Cue group on the Role Center for the roles: Accountant and Bookkeeper | |
Payment Service Providers
Added support for importing files from Payment Service Providers (e.g., Amazon, Bol, PayPal, Klarna) into the Cash Receipt journal.
| Feature | Included |
|---|---|
| Baseline for importing payments from third-party Payment Service Providers | |
| Import and application of payment receipts from Payment Service Providers | |
| Rule template for bol.com | |
| Rule template for Amazon | |
| Rule template for Klarna | |
| Rule template for PayPal | |