Banking Executive

Create Payment Run

Finance executive selects:

• Due invoices
• Payment method:
• Bank transfer
• NEFT/RTGS/IMPS
• Cheque
• UPI
• Wire transfer

Execute Payment

Payment is processed through:

• Bank portal
• ERP-bank integration
• Payment gateway

Example:

• Upload bank payment file
• Authorize transaction
• Complete payment

Record Payment Entry

System posts accounting entry:

• Debit: Vendor Payable
• Credit: Bank Account

This clears the vendor balance.

Generate Payment Advice

Send confirmation to vendor:

• Payment reference number
• Transaction date
• Amount paid

Reconciliation

Finance team reconciles:

• Bank statement
• ERP entries

Outstanding balances