Sending Payments with Bank Connect
Bank Connect adds enhanced functionality to your Business Central, without interfering with your existing configurations, workflow rules, and other Business Central settings. Bank Connect allows your company to submit, approve, and release bank payments from Business Central. You can make B2B and B2C payments from any linked bank account using:
- ACH (CCD and PPD)
- Wire (domestic and international)
- Real-Time Payments
- CTX
Your bank may support some or all of these payment types.
Payment Flow
Submit Payments
The payment flow starts on Payment Journal with a single or multiple Invoices. Then Submit Bank Payments with a click of a button.
Approve Payments
Then, payment approvers review and Approve Payments in the Bank Connect Approve Payments page. Some or all of your company's payments may require approval depending on your entitlements set up. If needed, payments may be rejected at this stage.
Payment Activity
Approved payments are delivered to your bank and processing updates will be automatically delivered to Business Central. You can track Payment Activity on the Payment Journal page. When a payment has been settled, the payment status will be updated to Completed and the payment can be posted, manually or automatically to Bank Account Reconciliations.
Payment Statuses
Using Payment Status can be valuable for tracking payments by their status, such as Approved, Canceled, or On Hold. The table below lists all possible payment statuses.
Payment Statuses
| Payment Status | Description |
| Initiated | Approval required. |
| Approved | Bank delivery pending. |
| Delivered | Settlement pending. |
| Completed | Settlement complete. |
| Rejected | Multiple reasons such as invalid payment instructions or rejected by approver. |
| Canceled | Credential error; payment cannot be completed. |
| On Hold | Please contact your bank. |
| Abandoned | Payment was submitted but not completed. |
| Returned | Payment submitted but failed to process for multiple reasons such as incorrect bank details, insufficient funds, etc. |
If you’re looking for a specific payment, Bank Payment ID will be the easiest way to populate specific payment activity.