Learn how to effortlessly export wire payments in Dynamics 365 Business Central. Follow our step-by-step guide to generate and export XML-based vendor wire payments.
In this comprehensive training guide, we will show you how to generate and export XML based vendor wire payments in Microsoft Dynamics 365 Business Central. This feature is based on the pain.001.001.03 schema. At Kwixand Solutions, we have developed a customized version of this schema, which meets the XML structure requirements for Scotiabank.
How to Export Wire Payments
The first step is to process the wire transfer. To do this, you will need to go to the Payment Journal and create a new batch. Go to your Search Bar then, type in and select “Payment Journal” to access the page.
Click on the ellipse next to the Batch Name to pull up the list of Payment Journal Batches.
Select the +New button at the top of the card to create a new batch.
Enter the batch name, for this example we will call this batch “Vendor Wire”.
In the next field, enter the Description. For this example, we will enter “Wire Transfer to Vendor”
Next, under Balance Account Type, select the appropriate account. For this wire transfer, we want to use the Bank Account.
Under Balance Account Number, select the appropriate account. For this example, we will use the Checking Account.
When you have entered and confirmed all of the information is entered correctly, make sure the new batch line is selected then, hit OK to save the batch.
This will automatically open the Payment Journal to the new batch. From here you can begin to process the wire payment. Start by setting the Document Date to the current date. You can do this by using the calendar or simply typing "t" into the date field.
Next, under Account Number, select the vendor that you want to pay with this wire transfer.
When you enter the vendor’s Account Number, the Recipient Bank Account field should automatically populate with the same vendor number.
Next, scroll to the right to find the Bank Payment Type column and select Electronic Payment from the drop-down menu.
From here, you must also check to make sure that the Balance Account Type and Balance Account Number are populated with the correct information from when you created the batch.
Once you have verified that all the required fields are populated correctly, click on the Process button in the Action Bar and then select Apply Entries from the list of options.
This will bring up a card that has a list of outstanding invoices. Select the invoices that you would like to apply the payment toward. The Applies-to ID in the Apply Vendor Entries card should be the same as the Document Number from the batch information on the Payment Journals page.
Once you have selected all of the invoices that you want to have the payment apply to, select OK to close the card and apply the invoices to the batch.
In the Payment Journals page, scroll to the right to verify the Amount.
After confirming that the Amount and all other information is correct, select Bank from the Action Bar and then select Export to export the wire payment information.
This will bring up a file window where you can select where you want to save the exported file to. Once you have made your selection, click Save. This will generate an XML file that you can upload to the bank payment portal to process the wire payment.
Once you have received the confirmation from your bank that the wire transfer has been processed, select Bank again and then click on Transmit.
This will bring up the Void/Transmit Electronic Payments window. Check that the Bank Account Number is showing the correct account name. Then, click OK.
You will then get a pop-up window asking if the export file has been successfully transmitted. Select Yes to complete the transaction.
How to Setup a Wire Transfer to a Vendor
Next, let’s look at how to set up the wire transfer export. Start by opening the Search Bar and entering “Bank Export” to access the Bank Export/Import Setup page.
Click into the Code field of the first unpopulated line to begin creating a new export line. Enter the Code name, for this example, we will enter “VendorWire”.
In the Name field, enter a descriptive name. For this example, we will use “Vendor Wire Payment”.
Next, check that the Direction field is switched to Export.
Then, enter the Processing Codeunit ID or select the appropriate code from the drop-down menu. For this example, we will use code number 1220.
You will also need to enter the correct code under the Processing XMLport ID. For this example we are using code 54100.
Finally, enter the Check Export Codeunit. For this example, we will use code number 1223
Once you have entered these codes, click off of the current line, into the next open line, and the Processing Codeunit Name, Processing XMLport Name, and Check Export Codeunit Name fields will automatically populate.
After checking that all of the information is entered correctly, select the back arrow to return to the Payment Journals page.
Now, you’ll need to access the General Ledger. Open the Search Bar and start typing “General Ledger”. Select the General Ledger Setup option from the list of search items.
Under the General section, click Show More to expand the options.
Scroll down to find the SEPA Non-Euro Export button and make sure it is toggled on.
Click the back button to exit the card.
Next, you will need to set up the bank account associated with the wire transfer. Go to the Search Bar again and type in “Bank Account”. Select the Bank Accounts List.
Click on the ellipses next to the account that was used for the wire transfer, in this case, the Checking Account, and select Edit from the options in the menu.
In the Transfer section, click Show More to expand the options.
Find the Payment Export Format field and select the export that you created in the previous step.
Once you have entered the Payment Export Format, click on the back button to exit the card.
You can now set up the bank account for the vendor. Open the Search Bar once more and type in “Vendors”. Select the Vendors List from the search results.
Select the vendor that is being paid with the wire transfer. This will open the Vendor Card.
In the Vendor Card Action Bar, select Vendor and then click on Bank Accounts.
This will open the Vendor Bank Account List. Select the appropriate account for the vendor to access the Vendor Bank Account Card.
In this card, you will need to confirm that all of the information is correct, especially the Country/Region Code and Currency Code in the General section.
Under the Transfer section, check that the IBAN Number is correct and that the Use for Electronic Payments button is toggled on.
Also in the Transfer section, make sure that the code 02 is entered into the Bank Clearing Standards field.
Once you have verified all of the information on the Vendor Bank Account Card, select the back button to return to the Vendor Bank Account List.
Continue selecting the back button until you return to the Business Central Home screen.
Training Video: How to Setup and Export Wire Transfers in Dynamics 365 Business Central
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