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Re: Automatic payment for other payee

Hi Huong,

 

Wire transfer is something wherein payment will be transfered directly to beneficiary (Vendor) bank account based on account details provided to the bank whereas  cheque will have to be deposited in vendor bank account to get the credit.

 

To answer your question, "Can we appy this for Wire transfer ?" depends upon what is the procedure that you follow for wire tranfer. For doing wire transfer you have to share the beneficiary account details with bank, If the beneficiary account details (i.e. name and bank details) are maintained in the system as per way mentioned earlier, then definately you can use this methodalogy for wire transfer as well.

 

Only thing is that while sending beneficiary account details to the bank you have to pick up the details from the vendor master.

 

Regards

Karthikeyan G


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