Using Payment Predictor
Purpose: This job aid covers the steps to review Payment Predictor results and correct Payment Predictor and Worksheet errors.
The Payment Predictor process (ARPREDCT) automatically applies payment to items and makes partial payments based on the payment predictor methods the City has defined. The Payment Predictor process either matches the payment and sets it to post or sends the payment matching results to a payment worksheet for review. If the payment predictor method specified that the process create a payment worksheet, the worksheet shows how Payment Predictor applied the payment and made adjustments based on the instructions in the method.
If the system sends the payment matching results to a payment worksheet, you must review the worksheet. Decide whether to accept the matching results as they are or make other adjustments. When finished working with the payment worksheet, set the payment to post.
If the process does not generate a worksheet, it creates a payment group and sets it to post.
When the Receivable Update process runs, any new items that the process created will be posted and accounting entries created.
Key Topics:
- Topic 1: Reviewing Payment Predictor Results
- Topic 2: Payment Predictor and Worksheet Errors
Topic 1: Reviewing Payment Predictor Results
Payment Predictor automatically applies payments where the user has checked the Payment Predictor checkbox based on the (Item) Reference supplied on the Payment entry page. It runs as a batch process each weekday at 8am, noon, 4pm, and 9pm. Note that Payment Predictor will only work for Open Items that have one item line.
The Payment Predictor Detail report provides the status of payments that were set to be applied via Payment Predictor. The report can be filtered by date and bank account to only show specific payment activity.
Step 1: Wait for automated batch process to run the Payment Predictor process at the above times and complete.
Step 2: From the NavBar on the right of the screen, navigate to Accounts Receivable > Payments > Reports > Payment Predictor Detail.
Step 3: Create a new or use an existing run control. From Date and To Date indicate the Accounting Date range. In this example, we didn’t specify a Bank Code or Bank Account, so all banks and accounts will be processed. Click Run.
Step 4: When the AR21001 process completes and is Posted, click the Details link.
Step 5: On the Process Details page, click the View Log/Trace link.
Step 6: On the View Log/Trace page, click the PDF link.
Step 7: The Payment Predictor Detail report should download. The most common statuses are:
- Applied: Payment was applied, and pending groups were created by the Payment Predictor process for posting.
- Identified: Payment was considered, and it either did not meet the criteria of the method, or it did not have items selected for it.
- Worksheet: Payment was applied, and a payment worksheet was built by the Payment Predictor process for review.
In the event of an error status, see Topic 2.
Topic 2: Payment Predictor and Worksheet Errors
Payments applied via Payment Predictor or Payment Worksheets that fail to post can be viewed on the Payment page. From the Receivables & Deposits tile, select the Errors and Exceptions navigation group, then Correct Post Err Payment.
Payment Predictor Errors: Payments that failed to match via Payment Predictor should be manually applied via Payment Worksheet instead:
- Navigate to the original payment and uncheck the Payment Predictor checkbox to allow the payment to be applied via Payment Worksheet.
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Navigate to the Update Payment Worksheet page and make the necessary corrections. From the NavBar on the right of the screen, navigate to Accounts Receivable > Payments > Apply Payments > Update Apply Payment Worksheet.
Payment Worksheet Errors: Payments with errors will also need to be corrected by updating the original Payment Worksheet that was used to apply the payment. From the NavBar on the right of the screen, navigate to Accounts Receivable > Payments > Apply Payments > Update Apply Payment Worksheet.