A bank draft is a payment processed by your bank, such as a monthly utility payment set up for automatic withdrawal. In Financial Edge NXT, you can record a bank draft payment for an invoice that reflects the automatic withdrawal amount.
Note: With Bank feeds, a payment may clear the online bank before it is made in Financial Edge NXT. In this case, during the download and clear process, a matching payment cannot be found in the bank register. To create a match, you can record a bank draft and create (or search for) the invoice associated with the payment.
Note: To successfully record bank drafts, you may need appropriate security rights. For example, creating a payment or adding an invoice require specific rights.
You can record a bank draft in various ways:
From a list of invoices, select next to an invoice, then select Record bank draft.
From an invoice record, select More actions, then select Record bank draft from the invoices action bar.
With Bank feeds, when manually matching, select a Bank feed transaction (payment from the online bank) that needs an associated invoice, and select Record bank draft.
The Record bank draft screen appears.
Select information for the bank draft, such payment date and bank account. A bank draft number defaults in based on subledger settings for the bank account.
Note: With Bank feeds, you can search for or add a new invoice. For more information about adding an invoice, see Add Invoices.
Click Save. Upon save, the invoice is automatically marked as paid and the associated payment record is created.
Note: With Bank feeds, after you save the bank draft, the payment is automatically selected and ready to be matched. You can then select Match and clear, and continue working through the lists until all transactions are matched. As you match, transactions are removed and appear as matched in the bank feed.