1. Understanding Electronic Payments with Microsoft Dynamics AX: UBAX03 Zvika Rimalt, Teck zvika.rimalt@teck.com

2. What is electronic payment?* Automated way to instruct your bank to pay vendors Account to account transfer or print check and send to vendor * In Dynamics AX

3. Value proposition Fast, Accurate Use single application Receive feedback Facilitate bank reconciliation Vendor requirements / payment advice Multi-country operations

4. Payment Process

5. Electronic payment 101 Recipient and Sender (electronic) address Components of address: –Recipient name –Routing (SWIFT, Fedwire, Sort Code, BSB…) – Bank account number (account, IBAN) Example 1: John Smith SWIFT: BOFAUS3N Account: 9876543210 Example 2: Jane Doe Sort Code: 60-02-35 IBAN: GB29 NWBK 6016 1331 9268 19

6. Typical Message Content Source address Multiple payments –Destination electronic address –(sometimes) destination physical address –Currency –Amount –Requested date of payment –(optional but important)Unique identifier of payment –(optional) details of invoices paid

7. Demo: Bank Setup

8. Demo: Vendor Bank Setup 1

9. Demo: Vendor Bank Setup 2

10. Demo: Method of Payment Setup

11. Demo: Generate Payment

12. Demo: Payment Transfer form Exchange rate: ONLY IF BANK CURRENCY same as BASE CURRENCY

13. New in AX 2012 Call service instead of generate file –Can take care of transport –Hands-free

14. Implementation options Generate file from AX (customize export format) Generate XML file from AX (new 2012 functionality) Use 3rd party application (generate one format)

15. Regional Variations Europe: Central Bank Reporting USA: –dual-addresses –Correspondent bank Australia/New Zealand: BSB Canada: Transit code / CPA code Europe / Asia: IBAN

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